Moncera is a P2P investment site that was established in 2020 to fund the loans of international lending group Placet Group (corporate website here). Moncera is located in Tallin, Estonia, and is regulated by the Estonia Financial Intelligence Unit. Moncera was founded by two former members of the Placet Group management team. You can read our interview with the CEO of Moncera, Dmitri Pavlov here. 

Previously, Placet Group had used Mintos as a P2P funding source. Placet Group loans can still be found at Mintos, but we expect availability there to end fairly soon. The interest rates offered for Placet Group loans at Mintos are now lower than can be found at Moncera.

Moncera is very simple to use. It has functionality that allows investors to either select individual loans on the primary market, or use an auto-invest tool. At the moment there is no secondary market. However, one of the key features being promoted by Moncera is its ‘early exit’ mechanism. If an investor needs early access to its money, they facilitate the repurchase of their investments by Placet Group. The cost to the investor is 0.5% of the loans repurchased. While some other P2P sites got into trouble recently by offering these types of promises/faciilities, we think the one offered by Moncera is different. That’s because it is backed by Placet Group, rather than being unfunded and relying on new investors to cash out leaving investors.

The auto-invest function has all the usual options found on other sites. This includes loan term, interest rate, and loan originator. Moncera provides investors a weekly email that provides simple information about interest earned, principal received from investors, investments made, and cash held on their behalf. The site has good reporting functionality, allowing investors to see all activity on their account within a chosen time period, and it can generate statements. 

Interest rates are currently around 11-12%. The loans are personal loans ranging from 3 months to 6 years. It is possible to create a portfolio that is fairly short term by setting a maximum maturity in the auto-invest settings. The loans are fully amortising loans, where the customer pays down the loan over the duration of the loan, where principal and interest payments are made each month. All loans have a 30 day buyback guarantee. Loans are available from Placet Group subsidiaries in Lithuania and Estonia. 

Account opening procedures are very simple and professional. In our tests, deposits have been credited within hours of sending funds. We recently interviewed the co-founder and CEO of Moncera. You can read the interview here.