Three investing mistakes that may harm your P2P lending or real-estate crowdfunding portfolio

Like other investment forms, P2P lending and real-estate crowdfunding come with associated risks. This post will introduce you with three classical investing mistakes that beginners and even advanced investor may make.

Investing mistake #1 : investing money you need

Always consider your future financial needs before investing. Many P2P lending companies provide a secondary market, but you’ll usually have to sell your loans for a discount, thus losing money. Worse, if this feature isn’t available, your money will be stuck for a long time.

Investing mistake #2 : investing too much, too early

Don’t be in a hurry ! I always start investing with a small amount, even with reputable companies. It takes time to get used to most websites; you don’t want to improperly invest your money because of a mistake in auto-invest configuration ! So, start small, and take time to get to know the platform. Once the returns satisfy you, gradually increase your investments.

Investing mistake #3 : not diversifying enough

Diversification is an absolute must in any investment form. When investing in peer-to-peer lending or real-estate crowdfunding,  there are several degrees of diversification available. First, between the different companies themselves. No matter if you want to invest in secured on unsecured loans, for a short or a long duration, in individual or business loans; there will always be several companies offering great investment opportunities. Signing up is usually very easy, so splitting your investment between several companies is a no-brainer.

For peer-to-peer loans, there are two different diversification levels. First between loan originators; this is essential as these firms provide the buyback guarantee. But buyback is not infallible, so if one originator bankrupts, you don’t want to have all your money invested there ! Finally, I advise you to use the smallest loan size possible, in order to spread the risk between as many different loans as possible !

Mintos‘s blog features several articles on diversification. They’re well worth the time necessary to read them.


My four favorite P2P lending and real-estate crowdfunding companies

Alternative investments already features a long guide comparing many peer-to-peer lending and real-estate crowdfunding companies. However, it’s a long read, and I understand it can be intimidating. So, here’s a much shorter list of my favorite companies.

Keep in mind that limiting the number of entries is necessarily unfair, and doesn’t mean that the missing ones aren’t worth investing in ! For example, is missing from this list, although it’s a company I strongly appreciate. So, don’t hesitate to check the longer comparison at a later date, or browse all available reviews. Diversification will allow you to reduce risk !

Peer-to-peer lending companies


Omaraha is still the largest part of my portfolio. In spite of a large cash drag, it’s still possible to invest in quality loans offering around 20% interest rate, for a long-term duration. However, be warned that Omaraha is probably not for beginners. Their website is dated and hard to use, and the loans are only partially guaranteed.


I may not be objective about Grupeer, but it’s probably my favorite P2P lending company. I’m honestly puzzled why there are not more people investing through this company. They offer guaranteed loans with an interest rate of 14% or more for a duration below one year. As time goes by, Grupeer features more and more originators with an increasing loans volume. The website is easy to use and require very little time; the only drawback I see is the lack of a secondary market. As a result, you can’t resell your loan if you find yourself in need of the money.


Mintos‘s offering is truly impressive. There are both business and personal loans, a huge array of originators from many countries, and it offers loans both with or without buyback. In spite of this very rich offering, the website is very easy to use. It’s the perfect offer for beginners; longer-term guaranteed loans currently offer 14% interest rate.

Real-estate crowdfunding

Real-estate crowdfunding offers a great way to invest in real-estate with as little as €100. The returns are usually rather high – I actually cry when I compare them to the returns I get from a traditional real-estate investment I made several years ago -. One word of caution, though :  these returns come an equivalent level of risk. Please make sure you understand the risks associated with real-estate investments before committing your money !


CrowdEstate is by far the undisputed leader in this category. They regularly add new projects, which offer great expected returns. The investments are extremely detailed, and investors have the opportunity to ask questions before the start of the investment period. It’s a perfect way to diversify your portfolio if you already invested in the above companies !



P2P lending portfolio review for February 2018

Overview of the month

The most important change in my P2P lending portfolio was that I withdrew some cash from Omaraha. Also, in order to write Crowdestor‘s review, I invested a small sum in this firm’s first project.

Current performance


In spite of offering a large bonus, I got nearly no new loan at Omaraha until the very end of February. This situation has been lasting since the beginning of the year, so I decided to withdraw most of the idle funds in order to allocate them to Grupeer, Finbee and Crowdestor (in decreasing order).

My XIRR is absolutely stable compared to last month, at 20.84% versus 20.86%; it’s once again my best portfolio, and it pained me to have to withdraw money from it !


Ah, Bondora… Once again it was a very deceiving month for this platform. I made more money with my Grupeer portfolio, although it’s twice smaller than my Bondora portfolio. Another striking figure is the received interests, which have dropped by more than 50% between January and February !

The XIRR dropped below 15%, setting a new low at 14.37% against 15.14% last month. Needless to say, that’s a very poor result, especially compared to Bondora’s “expected return” when I started investing. While this may look like a harsh judgment- after all, it’s really not a bad result by itself -, the clearly decreasing returns is really worrisome !


It was yet another excellent month for my portfolio at Grupeer. The XIRR  reached 14.72%, slightly above last month’s 14.63%. There were few cashback offers this month, so the returns may drop slightly; however one can only marvel at Grupeer’s very consistent returns. The reallocation from Omaraha meant that my Grupeer portfolio increased by around 10%.


Another very stable month for this platform; the XIRR was 12.69%, compared to 12.63% last month. As a reminder, don’t forget to sign up for the cashback campaigns at they run regularly, and they offer a quick way to improve the returns of your portfolio.


The XIRR is also very similar to January’s, at 11.90% for this month versus 11.83% for February.

The XIRR increased once again, reaching 11.97%. is slowly recovering from the long cash drag that plagued it several months ago.

Other companies

As usual, I didn’t compute the XIRR for several companies. For Finbee and Monestro, it’s because I need to update or write the review. For CrowdEstate, BulkEstate and the very new Crowdestor, the reason is simply that I need to wait until the projects complete. I could actually provide a XIRR for CrowdEstate as one of the projects I invested in yields monthly interests, but it’s not typical from this platform’s investments.

Aggregate portfolio XIRR

That’s a value I’m really interested in; it shows the effect of the various portfolios size. It’s compute this value by simply taking the average of the XIRR for each company, weighted by its amount. This month it’s slightly down at 17.72%, versus 17.95% last month. I’m still very pleased by this result !

XIRR evolution

Earlier values until October (included) were provided by the platform or crudely estimated; from November onwards they were computed using the method outlined in this article.

Apart from Bondora’s continual downtrend, the results for most platforms are rather regular.

P2P Lending companies returns

Current allocation

I withdrew some money from Omaraha, and split this amount between Grupeer, Finbee, and a very tiny Crowdestor portfolio. This portfolio is so small compared to the other companies that there’s no legend for it ! (it’s located between CrowdEstate and Grupeer on the pie chart)

P2P lending companies allocations for February 2018

New platforms

I’ve had a portfolio for a long time at Finbee and I still have to write the review. It’s a rather complex platform with many options, and I lack time to explore it totally. But first, I  urgently need to update both Bondora and Investly reviews in order to reflect my current opinion !




ICO portfolio review for January 2018

After a crazy rise in December, January was a very bad month for crypto-currencies. The most famous one, Bitcoin, lost about two third of its value. As a result, my ICO portfolio also suffered. I’m really happy I invested only a small sum as I’m not sure I could bear such volatility !

Portfolio structure

There has been noo change in my portfolio composition in January; I didn’t invest in any new ICO. WePower ICO took place on February, 1st and I really wanted to invest in it, but I totally missed it as I didn’t have internet access 🙁

I have invested in the following ICOs in equal proportions :

  • Crypto20 (C20), a crypto index fund
  • Symmetry (SYMM), a fund invested in crypto-currencies and ICOs
  • Naga Coin, (NGC) a smart crypto-currency for gaming and trading
  • Signals (SGN), a platform aimed at providing crypto-trading strategies

Current tokens valuation

Currently only two tokens are valued. C20 value is available in realtime at the project’s homepage, while pas values are displayed in the performance page. In addition to this, C20 is finally trading on exchanges. I’m using the official NAV value here, as there are differences between exchanges prices; moreover, the small liquidity may lead to unrealistic prices.

At the end of January, C20 token’s value was around $2.31 (versus $2.91 last month).

Crypto20 (C20) token price

Here’s NGC priced in USD at HitBTC; the chart includes most of February as I’m writing this article very late 🙁 While the token was worth at $2.82 at the end of December, it dropped to $1.46 at the end of January.

Naga Coin (NGC) token price

Total portfolio valuation

My ICOs portfolio saw an insane growth in December. In January, it went back to Earth – especially NGC -. The total growth of the portfolio is now “only” 25%. This figure  shows how crazy the crypto-currencies world is; it’s a huge drop compared to last month (where I doubled my portfolio), but even after that, the return is still impressive for such a small time.

ICOs portfolio evolution

Future directions

Spoiler alert 🙂 After missing the WePower ICO, I decided to invest in NapoleonX, a crypto asset manager. I’ve been considering it for some time, and finally invested in it. I’ll provide more details in next month’s ICo review.


Also, as I really appreciate Crypto20’s approach, I keep a close eye on their current developments, and will probably invest in their future tokens.


P2P lending portfolio review for January 2018

Overview of the month

The first month of 2018 looked suspiciously like the last month of 2017 ! I once again added money to CrowdEstate and BulkEstate. Returns were overall equivalent to last month, the exception being once again Bondora.

Current performance


Omaraha is currently suffering from a large cash drag. It’s very hard to have money invested, and I actually increased the amount of “bonus” I give back to the side in order to have a higher priority. In spite of this, there’s more and more idle cash on my account.

Computed XIRR is 20.86%, which is roughly the same as last month’s 20.96%. It’s still by far the best performing part of my portfolio.


Once again, Bondora’s returns decreased. They stand at 15.14%, well below the value for last month, which was 15.86%. The recovery isn’t improving, in spite of reassuring communication from Bondora. Like many Bondora investors, I’m tempted to cut down the size of my portfolio, but I’m afraid it will lower results even further…


Month after month, Grupeer delivers very consistent returns. The 1% cashback offer allowed me to boost my returns again; this portfolio’s XIRR was 14.63% for January, slightly higher than December’s 14.49%.


Just like Grupeer, Mintos performs extremely well. The XIRR was slightly up, at 12.63% versus 12.54% for the previous month. There are several campaigns that allow you to get cashback; you currently can get as much as 5% cashback when investing in Mogo’s long-term loans ! These offers are a great way to increase your returns.


The XIRR is currently 11.83%, which is okay for loans offering a 12% interest rate. It increased greatly from last month’s 11.66%; it looks like the cash drag is over for now, as returns have been increasing for several months in a row. is another site that suffered from a long cash drag several months ago. Just like Swaper, they now seem to have enough loans available for everyone to invest in, and the returns are in an uptrend. December’s XIRR was 10.59%, and it increased to 11.19% in January. While still not an optimal value – the loans are supposed to yield 14% -, it’s a great improvement from the past values.

Other companies

Once again, I don’t compute XIRR for several companies : Investly, Finbee, Monestro, CrowdEstate and BulkEstate. I keep on adding money to the two latter companies, as they have very interesting offers coming in regularly.

Aggregate portfolio XIRR

I compute this value by taking the average of the XIRR for each portfolio, weighted by the portfolio’s size. The value for January was very similar to last month : 17.95% versus 17.99% for December. Overall it’s still an excellent value… I can only wish Bondora would stop bringing it down 🙁

XIRR evolution

Value from December onwards were all computed by myself, leading to more precise value and easier comparison. There’s little change between January’s results and the previous month.

P2P Lending companies returns

Current allocation

I once again added funds to CrowdEstate and BulkEstate. The evolution of the other portfolios’ relative size is due to the received interests.

P2P lending companies allocations for January 2018

New platforms

I had a look at EstateGuru, but current returns seem much lower than CrowEstate of BulkEstate. I’m currently performing some due diligence on Crowdestor, which seems like a worthy competitor for these two websites; however the investors base seems to be very small.




Monthly ICO portfolio review

As I mentioned in this post, I started investing a small sum in crypto-currencies through ICOs (initial coin offerings) at the end of 2017. This portfolio is extremely small compared to my P2P lending portfolio.

From now on, I’ll report on the fluctuations of the tokens price on a monthly basis.

Portfolio structure

I invested an equal amount in the following ICOs :

  • Crypto20 (C20), a crypto index fund
  • Symmetry (SYMM), a fund invested in crypto-currencies and ICOs
  • Naga Coin, (NGC) a smart crypto-currency for gaming and trading
  • Signals (SGN), a platform aimed at providing crypto-trading strategies

Current tokens valuation

It may be hard to value a portfolio invested in ICOs. Currently neither SGN or SYMM have real value, as the ICO is not over yet.

The value of a C20 token is published at the project’s homepage; historical NAV can be found in the performance page. C20 token will also soon trade at HitBTC, a crypto-currency exchange. The NAV on December, 31st was $2.91.

CRYPTO20 - NAV Chart

NGC’s situation is even clearer as it already trades at HitBTC. As of December, 31st its closing price was $2.82.

NGC/USD chart at HitBTC

Total portfolio valuation

As I mentioned, I invested an equal amount in all four ICOs. Depending on the crypto-currency used to invest in ICOs, the transaction fees were different. In order to simplify comparison, I will disregard the transaction fees paid initially.

Also, as I bought the NGC tokens during the pre-sale, I got a nice 30% bonus on the price, meaning that I actually bought 30% more tokens for the same price.

In order to make comparisons easier, I gave an initial value of 1 for all tokens. The resulting growth is impressive : around 3 times for C20 ($1 to $2.91), and about 3.6 times for NGC, thanks to the bonus ($1 to $2.82 plus 30% equal $3.66 ). Including the two “idle” tokens, I doubled the value of my portfolio in one month.

ICOs portfolio valuation as of December 2017


Will this crazy growth continue ? I’m of course not sure. Overall I’m really confident  in C20’s value; NGC’s price variations remain to be seen. SYMM’s first dividend is supposed to be paid in April, so we’ll see how it turns out !

Future directions

I try to stay informed on current ICOs and trends in crypto space, as I find this topic interesting. However I don’t plan to grow my portfolio much, unless I found a very compelling ICO to invest in. Crypto20 is supposed to create new indexes later (for example for ICOs), so it may provide new investment opportunities.



P2P lending portfolio review for December 2017

First of all, I wish all readers of Alternative Investments a happy new year !

Overview of the month

The only change to my P2P lending portfolio allocation in December was a size increase for CrowdEstate and BulkEstate.

Returns for most sites are stable or higher than last month, with the notable exception of Bondora.

Current performance


I’m still using Omaraha’s “bonus” feature in order to invest all my funds. The forecasted cost of this feature is a bit more than one euro per month, so I consider it’s worth using it in order to prevent cash drags ! As I mentioned last month, all my new investments are in Estonia; I stopped investing in Slovakia and Finland due to the high default rate.

Computed XIRR is 20.96%, slightly down from last month’s 21.11%. Once again it’s an excellent return !


Bondora‘s performance is – again – rather concerning. XIRR for this portolio is 15.86%, much below last month’s 16.73%. I still didn’t decrease the portfolio’s size, as I’m waiting to see whether recovered amounts increase.


In December I invested in many loans offering an additional 1% cashback, which boosted the returns of loans offering an already nice 14% interest rate. As a result, the computed XIRR is a whooping 14.49%, nearly one more point than last month’s XIRR of 13.48%. I really appreciate Grupeer more and more, and if I ever decreased Bondora’s portfolio, I’d invest most funds in Grupeer.


I set my auto-invest profile to invest in loans with interest rates of at least 13.5%; there are many of them for long durations so liquidity isn’t a concern. I also got a small bonus for investing in long term loans in December. Compared to a few months ago, Mintos’s loans offer a greater interest rate, so the XIRR keeps on increasing : for December it was 12.54%, versus 12.35% last month.


The XIRR value is more or less in line with the expected value for loans offering a 12% interest rate. Last month’s value was 11.36% (after a long period of cash drag), and for December it has improved to 12.54%.

Last month’s XIRR was a very low 9%, partly because of the lack of loans to invest in. In December the loans volume has greatly improved, and the XIRR is now 10.59%. While it’s still very low – especially for a platform where you invest in loans with 14% interest rate -, I expect the XIRR to improve over time.

Other companies

Like the previous months, I don’t compute XIRR for several companies : Investly, Finbee, Monestro, CrowdEstate and BulkEstate.

Aggregate portfolio XIRR

This is simply the average of the XIRR for each company, weighted by the portfolio’s size. I didn’t compute it previously and was pleasantly surprised by the result : 17.99% ! The high weight of Omaraha explains this great result.

XIRR evolution

Values from October and earlier were estimated or taken from the statistics computed by the P2P company. After November, all values are manually computed.

P2P lending companies returns for December 2017

Current allocation

I only added funds to CrowdEstate and BulkEstate. Portfolios for other companies only grew with the received interests.

P2P lending companies allocations for December 2017

New platforms

I spent some time improving the current reviews in order to reflect platforms improvements : for example Mintos‘ “Loans issuers diversification” feature, or Omaraha‘s more friendly configuration of investments profile. Several reviews are still currently being written, but I must admit I’m not satisfied with them yet.

Maybe I’ll have a look at EstateGuru this month, as it seems like a great way to invest in real-estate, in spite of rather low interest rates.



P2P lending portfolio review for November 2017

Overview of the month

Not much has changed on my P2P lending portfolio this month. I moved some funds out of Omaraha and into CrowdEstate and mostly Finbee. I’m still writing the review for the latter, which takes time as the website offers many features.

The most important change is that I’m now tracking my portfolio more closely. I computed the XIRR for all my P2P investments and will display this one instead of relying on the value computed by the P2P lending company.

Current performance


I withdrew a small sum (around 1%) as I had a lot of funds not invested. Later in the month, I resorted to use Omaraha’s “bonus” feature. It gives me priority when auto-investing, the cost being some percent of the interests I give back to the platform. Since I started using this technique, all my funds are invested. The effect of the bonus on my returns remains to be seen.

My portfolio at Omaraha now only contains loans from Estonia.

Computed XIRR is 21.11%; while much below the platform’s estimation, it’s an excellent return.


XIRR for Bondora‘s portolio is 16.73%. The returns there seem to be slowly diminishing,  so I’m considering lowering this portfolio’s size a bit.


I can finally compute a XIRR 🙂 The result is 13.46%; however as I mentioned in my article regarding XIRR, the fact that I have few large loans tends to under-estimate this platform’s XIRR between two repayment dates. I was unable to invest in any 15% loan recently, so all my recent loans yield 14%.


There are still many loans offering 14%, so my XIRR is slowly increasing. My computed value is  12.35%, in line with the platform’s estimation.


My result for Swaper’s XIRR is 11.47%; the value is less than expected for loans yielding 12% because of the past cash drag.

If I consider my account value strictly, my XIRR is a deceiving 9%. Indeed, the accrued interest for many loans didn’t get paid yet, so this reduces the returns. If I include the accrued interest, the value would be closer to 12%. However I’ll use the former value instead, as this difference should disappear as time goes by.

Other companies

There are many platforms for which I don’t display returns yet. The first reason us because my portfolio is too recent (Investly, Finbee) or too small (Monestro). Real-estate crowdfunding will take a while too (CrowdEstate and BulkEstate)

XIRR evolution

The switch from the values displayed by the websites to my own computations creates a drop for this month. However the relative order is preserved.

P2P leending companies's XIRR for November 2017

Current allocation

Finbee and CrowdEstate grew a bit, while Omaraha shrunk slightly.

P2P lending allocation for November 2017


New platforms

I actually have no plan to open accounts in a new P2P lending platform, but of course this can change it one sparkles my interest ! I want to spend some time improving the reviews, and updating for example Swaper‘s one in order to include the recent interface changes. Moreover I still have to test Bondora’s “Portfolio Pro” feature.

See you next month !



P2P lending news for November 2017

End-of-year is usually a busy time for most businesses, and P2P lending firms seem to confirm this rule. Quite a lot of things happened in this area, with many new features being added to several P2P lending websites.

Swedish Krona loans at Mintos

“Sweden-issued loans listed on the Mintos marketplace by Aasa range from SEK 9 700 to SEK 50 000, with repayment period from 6 to 36 months. The average net return to investors will range from 7 to 13%.” (Mintos newsletter)

While the fluctuations of exchange rate don’t incite me to invest in other currencies than Euro, Swedish investors will probably enjoy this diversification opportunity !

Auto-invest feature for Crowdestate

“Starting from November, Crowdestate’s investors have access to a new, automated investing function – just enable Autoinvest, ensure that there are sufficient funds on your account and an investment order will be made into any opportunity matching the parameters.” (CrowdEstate newsletter)

I updated CrowdEstate review in order to mention this useful feature.

Google 2-step verification for CrowdEstate

“Ever had trouble receiving the SMS code necessary to verify an investment order? Now there is an alternative way – Google Authenticator.” (CrowdEstate newsletter)

Note that activating this feature will also require you to use Google Authenticator at login.

Mozipo Group adds personal loans from Denmark to Mintos

“Denmark-issued Mozipo Group loans listed on the Mintos marketplace will range from EUR 65 to EUR 945. The repayment period will be up to one year. Investors can expect an annual return of 11%-13%.” (Mintos newsletter)

As usual, don’t forget to update your auto-investment settings accordingly !

TWINO reaches €200 million milestone

This month we have reached an important milestone, EUR 200 000 000 in loans funded through TWINO Investment Platform.(Twino newsletter)

While I’m not crazy about Twino, it’s great to see them growing. Increased competition between platforms can only be positive for investors !

One million euro milestone reached by DoFinance

“It is my pleasure to announce that DoFinance has attracted an investment of one million euros” (DoFinance newsletter)

I appreciate DoFinance’s simple ofter and enjoy seeing that they’re doing great

Mintos offers ability to filter automatic and manual investments via the originator’s risk category

“(…) you can now tailor your investments according to loan risk categories which are based on loan originators’ unique internal scoring models. Risk categories link expected annual bad debt rate with the interest rate offered to investors on Mintos” (Mintos newsletter)

With this another additional filter available (although currently only for DEBIFO and Capitalia originators), Mintos enhances even more our ability to control our investments.

New Spanish issuer for Mintos

“EuroOne loans available for investment on the Mintos marketplace will range from EUR 300 to EUR 1 000, with a repayment period of up to 30 days. The average net annual return to investors will range from 11 to 13%.” (Mintos newsletter)

Don’t forget to update your auto-invest settings in order to add this issuer !

Mintos offers GBP loans

“Mogo loans available on the Mintos marketplace for investment in GBP will be the same as Poland-issued loans already listed on Mintos in PLN. Loans will range from GBP 254 to GBP 7 350, with a repayment deadline of 6 to 48 months. The annual net return to investors will range from 8.5% to 13%.” (Mintos newsletter)

I was actually surprised to read this announcement as I believed that GBP loans were already available. Just like the investments in Swedish Krona, that’s yet another diversification opportunity for investors

Swaper redesign

“Next time you log in you will be greeted by a new account Overview; a reworked Auto-Invest Portfolio functionality; identification document upload functionality along with several overall user experience improvements.” (Swaper‘s Facebook page)

Details about the changes can be found here. I’ll soon update Swaper’s review on Alternative Investments in order to reflect these changes. I’ll also check if this removes the need to create several auto-invest portfolios in order to have all the funds invested


XIRR computation for your P2P lending portfolio

Several P2P lending sites display the XIRR (extended internal rate of return) of your portfolio. However many of them don’t provide this information.

Here I will show you how to easily compute it yourself using Google Sheets. It will allow you to easily compare returns between your different P2P lending portfolios.

You could also use a spreadsheet program on your computer, but Google products give you access from anywhere, and you won’t lose data if your computer dies.

Theory behind XIRR computation

The XIRR answers a basic question : given a number of deposits / withdrawals and the current value of the portfolio, at which interest rate would I need to invest the deposits in order to reach the current value ?

Note that it doesn’t mention anything about the actual investments taking place in your portfolio. Indeed, it values an theoretical portfolio in a uniform way, which allows us to compare the returns from different portfolios just by knowing the deposits, withdrawals and current value.

Sample computation : Swaper XIRR

I’ll use my Swaper account as an example of XIRR computation.

Find the required data

Log on to your Swaper account. If you don’t have one, don’t worry; I’ll display the necessary data below.

Go to “Overview” -> “Account Statement”. First enter a “From Date” earlier than your first deposit. Under “Transaction Type”, select “Deposits” and “Withdrawals” then click “Search”.

In my case, it displays my initial deposit and three withdrawals.

Swaper deposits and withdrawals

The current value of your account can be found under the “Overview” -> “Summary” tab. As I’m writing this article it’s 517€.

Not that we have all necessary data, let’s move on to the dirty part !

Input the data on Google Sheets

The sample spreadsheet I created can be found at Google Sheets.

Go to Google Drive, create a new spreadsheet.

When inputing the data, we must follow some basic conventions. Deposits as well as the current portfolio value should be entered as negative values, while withdrawals should be positive.

On my spreadsheet I sorted the lines according to the date, but it’s not necessary for the computation to work. I only did so in order to enhance readability.

I inputted the date for the last line (current value) in a special way : instead of typing today’s date manually, I use the formula “=now()”.

On the next column, I finally entered the formula for the XIRR : “=XIRR(D2:D6;C2:C6)” where D2:D6 is the amounts range and C2:C6 the dates range.

Google Sheets XIRR Input

The XIRR is initially displayed as a decimal number. Select the cell and choose “Format” -> “Number” -> “Percent” to switch to a more user-friendly format.

Similarly, I also formated all dates using “Format” -> “Number” -> “Date”.

Here’s the resulting sheet : (ignore the rightmost part which we’ll use in a moment)

Note that the result differs slightly from the one computed on Swaper’s website : 11.32% on Google Sheets versus 12.09% on Swaper’s website.

Checking the result

We’ll check this result by using the definition of XIRR I provided earlier. We need to actualize each amount using the FV function, which computes the future value of an invested amount.

In a column at the right of the first amount, enter the following formula : “=FV($D$8/12, int((now() C2)/30), 0, D2)“.

The parameters are :

  • the interest rate; in this case I referenced the cell containing the XIRR computed by Google Sheets. Note that I escaped “D8” into “$D$8” so that it will be immutable when I copy this formula
  • the number of repayments : I divided the number of days between the date and today by 30, which once truncated is a rough estimate of the number of months elapsed since this date
  • the payment amount, which is 0 as we don’t withdraw or add money
  • the initial value

I then expanded this formula in order to compute it for all amounts, and added one cell containing the total. The sum of all future values is 520.58, close enough to the actual 517€. This small difference is in part due to the way we computed the number of months.

Compute future value of amount

Sum future values to check XIRR computation

Finding the required data on your P2P lending websites


You have to generate a new report. This has the advantage of allowing you to copy-paste data from the generated report directly into Google sheets !


Use your account statement, under “Overview” -> “Account Statement”. Then search “balance” to find the deposits (I didn’t withdraw money from Grupeer so I’m unsure what the label for them is). You’ll have to input the data manually in Google Sheets.


Under “Account Statement”, choose the proper start date. I had to select several payment types : “Deposits” and “Withdrawals” of course, but also “Currency exchange fee”, “Incoming currency exchange transaction” and “Outgoing currency exchange transaction”. This was necessary as I transferred some money from my Euro portfolio to my GEL portfolio and vice-versa.

Just like with Bondora, you  can download the result.


I didn’t find any way to get a detailed account statement. As a result I had to use my bank account statements instead !


Go to “Account statement”, and choose the right start date. The resulting statement is downloadable. Deposits are labeled as “Adding Funds”


Under the “Transactions” tab, you can choose to view either the deposits or the withdrawals.

Discrepancy with the “official” XIRR

As mentioned above, my computed XIRR for Swaper is lower than on the website. I’ll get in touch with them for an explanation.

Similarly, my result for Grupeer is 12.46%, which seems a bit weird as all the loans yield more than 13% and there’s been no default. This is because my Grupeer portfolio is made of few large investments, leading to only a few large repayments during each month. Between two repayments, the XIRR drops.

Most other portfolios contains much more loans, which allow the XIRR value to fluctuate smoothly during each month.

XIRR on alternative investments

P2P lending companies reviews

I used to quote the XIRR displayed by the website. I will update the articles in order to reflect the computed XIRR.

Monthly P2P portfolio review

In a similar way, the I will now use my own XIRR computation when displaying returns. This will allow to compare P2P lending companies more accurately.

Long-term investments and XIRR

Real-estate investments usually pay interests only once the project is completed. As a result, I’ll only display XIRR for BulkEstate and CrowdEstate once they’re meaningful.

In conclusion

Tracking XIRR monthly with this method is easy. It’s very easy to update it each month by taking into account the deposits and withdrawals, and updating the current value.

This will allow you to track your portfolio performance in a much better way !