Time for something new? Here's 5 new P2P sites
ExploreP2P publishes comparison tables to help investors see what’s available in the world of P2P investing across Europe, and our thoughts on each site. While we list many (60+) P2P sites, we have always excluded many P2P sites too. Why? Some have been excluded in the past because they appeared to be scams. Examples in the past have included Kuetzal, Envestio, Monethera and several others. Most of the sites excluded on these grounds have since proven to be frauds and have stopped operating. However, we continue to exclude a few sites for this reason – you can read our post here about how to avoid scam sites. We also have a policy of not listing any sites related to crypto or ICOs – too many are either very high risk or potentially fraudulent.
Another reason for a site not appearing on our lists can be that we are still monitoring it. This could mean we are looking at things like transaction volumes, website development, lending performance, and the experience of early investors. Often we will be having discussions with the management teams behind the scenes to learn more about them and their sites prior to listing.
Today, we have added 5 new sites that we think may interest some of our readers. Some sites have been operating longer than others. Some are more developed than others. Not all will be suitable or interesting for you. But rather than just add the sites to our listings pages, we thought it could be helpful to provide a brief summary about each one, and some of their strengths and weaknesses.
The 5 new sites:
EvoEstate is an ‘aggregator’ site. That means that all the investments listed come from other sites. It gives investors access to real estate related investments across 19 different platforms. The idea behind the site is that it allows investors to see many more deals than going to just one site. The management team of EvoEstate co-invest in many of the deals listed on the site to show that they have ‘skin in the game’. Investors can invest across many different platforms without having to open accounts at each one. Investor experience has been mainly positive so far. We have been impressed by what the EvoEstate team have delivered so far in a short space of time.
HeavyFinance specialises in providing equipment finance. It mainly provides loans secured on big (i.e heavy) farming equipment such as tractors and harvesting equipment. This equipment tends to be very expensive, which makes it suitable for lending against. The CEO and founder of HeavyFinance is also the founder of Lithuanian consumer P2P site Finbee, where he was CEO for 4 years. HeavyFinance only launched mid way through 2020 but has had early success, with over €1m of loans funded already. We think this site will be interesting for investors looking to diversify their P2P investment portfolios.
LendSecured has identified the agricultural sector as an attractive niche that other P2P sites have overlooked so far. While the LendSecured P2P site is fairly new, the team behind it have been operating a lending business in Latvia since 2013. The loans currently offered on LendSecured are secured on agricultural land or small housing developments. In our discussions with the management team there we learned of plans to offer some interesting new types of structured agricultural loans that will be launched early next year. From what we learned, we feel that these could be very interesting for some investors.
Brickfy is another aggregator platform that has launched this year. It currently offers access to loans from 8 different sites. Some are well known, like Bulkestate and Kviku, and others are less welll known. Brickfy plans to add more loan originators to the platform in coming months. The Brickfy team say that they perform some due diligence on loans that are placed on the site (although we think each investor should still perform their own analysis. Brickfy say that they will focus on offering loans to businesses and real estate opportunities, as they think that these have lower risk than consumer loans.
FutureBricks is a UK based P2P platform that provides funding to small and mid sized property developers. It started in 2018 and has funded 17 loans worth £3m. It is also currently raising equity on the Seedrs crowdfunding site. FutureBricks is most similar to another British P2P site called Blend Network. The average interest rate on Future Bricks so far has been 11%, with an LTV of 56%. The minimum investment is only £500. The team are currently developing partnerships with institutional funders, which should help them grow the number of loans featured on the site and help the platform get to scale.