Fast Invest review

Fast Invest review

Fast Invest’s overview

Fast Invest is a platform offering to invest in loans up to one year, with interest rates between 9% and 15% for Euro loans. They come with a buyback guarantee that triggers after only 3 days, an incredibly short delay !

My opinion on Fast Invest

Fast Invest seems like a very promising platform. It’s easy to use and offers interest rates far above the competition.

In spite of the controversy that surrounded the company, I decided to trust them and start investing through the platform. But just as with all platforms I test, I started by investing a small amount, which I plan to increase if everything goes well.

A word of warning

In spite of the good rating I’m granting the company, it’s my duty to inform potential investors that Fast Invest‘s reputation unfortunately isn’t spotless. Indeed, in the past, there have been reports of shady behavior from people apparently related to the company, who posed as investors. I haven’t heard any such report recently, though.

Another criticism towards Fast Invest is that the company doesn’t disclose the name of their loans originators; this lack of transparency is a bit concerning as most – if not all – competitors share such information. However, this is likely to change as the company is changing the contracts with the lenders in order to be able to disclose their identity.

Detailed ratings

Interest rates

For guaranteed loans, the interest rates are very interesting.

Loans liquidity

There are many loans available, although the highest-yielding ones are scarce.

Reporting

The provided statistics are rather basic, and data can’t be downloaded.

Buyback guarantee

The buyback guarantee triggers after only 3 days, a record for P2P lending sites !

Website ergonomics

The website is easy to use.

Fast Invest’s pros & cons

Pros

  • Great interest rates
  • User-friendly platform

Cons

  • Some controversy surrounds the company
  • No detail is provided about loans originators

Loans characteristics

Loans duration

1 month to 1 year

Loans kind

Individual

Minimal investment

€1

Buyback guarantee

Buyback guarantee available

Currencies

Euro

PLN

Loans overview

Fast Invest‘s loans are either in Euro or Polish Złoty. Euro loans yield between 15% for Spanish loans, to 9% for some Danish loans; many of them are in the middle of these two bounds with a 13.5% yearly interest rate. Currently, all loans have a duration shorter than one year.

As all these loans are covered by a buyback guarantee, the interest rates are really interesting compared to Fast Invest’s competitors !

With individual loans covered by a buyback guarantee, I usually don’t bother much with checking the borrower’s details. However, investors interested in them have access to basic data.

Detail of one loan at Fast Invest

Buyback guarantee

Fast Invest‘s buyback guarantee is excellent : it triggers after only 3 days, while the delay is usually one month for most competitors !

Please note that Fast Invest’s terminology is a bit confusing : what’s usually named Buyback guarantee is called Default guarantee, while Buyback guarantee refers to selling the loans back to the company.

Platforms features

Early exit

Early exit available

Auto-invest

Auto-invest available

Early exit

There’s no secondary market; instead, it’s possible to sell the loan back to the platform (as mentioned previously, this is referred to by Fast Invest as Buyback guarantee). While there’s no associated fee, the drawback is that you’ll lose all interest earned for the loan !

Manual investing

Like most competitors, Fast Invest offers the possibility to invest manually, which can be great for beginner investors. It’s rather easy to do so, using a limited set of filters :

  • country
  • currency
  • term
  • loan amount
  • interest rate

The rather large loans volume means that investors aren’t forced to use the auto-invest of they don’t wish to.

Auto-invest feature

The auto-invest screen is well designed and easy to use, although I find the non-linear scale for the interest rates a bit confusing.

Fast Invest’s auto-invest screen

It’s possible to create several auto-invest portfolios, although there’s not much use unless you want to invest in different currencies.

Website’s ease of use

Languages

English, German, Finnish, Polish, Italian, Spanish, French, Russian, Chinese Mandarin

Funding methods

Available languages & translation quality

The platform features a rather impressive array of translations, including Chinese Mandarin which I’ve never seen before.

The English version of Fast Invest‘s website is well translated. In spite of its lower quality, the French version is good enough to use; as very few platforms bother to translate their interface to French, I can only congratulate Fast Invest for their effort !

Registration process

Registering with Fast Invest is really quick and easy. The required amount of information is really minimal, and your account is ready to be funded very quickly.

There was however a small glitch when I created my account : the verification email sent by the platform never arrived, and I had to request it several times for it to reach me. This looks like a temporary bug, though, so it shouldn’t be a concern.

Account funding

Account funding is done via SEPA transfer. Funds are usually available after 2 days.

Website’s design and ergonomics

The website is overall easy to use and pleasant to look at. My only criticism would be the lack of consistency of the lateral menu, shown below.

Fast Invest’s lateral menu

Reporting​

Fast Invest‘s reporting screens are a bit too light to my taste. Indeed, they don’t provide much information, and don’t allow data export.

Actual performance of my Fast Invest portfolio

As I just started investing through Fast Invest, I can’t compute an XIRR yet. However, as all loans yield interests monthly, I’ll be able to publish it in early 2019.

Fast Invest’s competitors

Compared to their main competitors, Fast Invest seems to be very interesting. Indeed, individual loans on other platforms with a buyback guarantee usually have interest rates around 12%. Only Omaraha‘s returns are better, but the buyback guarantee is only partial; moreover, Omaraha’s interface is truly hard to use.

Of course, at the same time, Fast Invest doesn’t have the same seniority as Mintos, so the risks are obviously higher; size your respective portfolios accordingly !

Fast Invest’s facts and figures

Location

London, UK

Historical return

14.3%

As of December 2018

Who can invest

Investors must be at least 18 years old, have a valid email address and a personal bank account in their name in the European Union.

For the identification purposes, you must provide a national identification card (scanned or photographed both sides) or a passport (scanned or photographed).

Fast Invest FAQ

Disclosure

Please note that this review may contain affiliate links. It means that I will earn a commission if you decide to invest after clicking through the link – at no additional cost to you, of course -. Please understand that I have experienced all of these companies, and I recommend them because they are helpful and useful, not because of the commissions I make if you decide to invest through my links.

2 thoughts on “Fast Invest review”

  1. Hi
    You wrote, that Fastinvest location is in London. But it is not true, their office located in Lithuania, Jorgen from financiallyfree.eu visited them some weeks ago. In London they have only post box

    • Hi Eduard,

      The company is officially registered in London (which seems like a weird choice, especially now that the Brexit seems really close). I’m of course aware that Jorgen visited them in Lithuania; however, the Lithuanian offices aren’t even listed on their website. It’s probably not a great choice as looks suspicious; if I were a company with a clouded reputation, I’d be careful to be 100% transparent on small things like this. But I’m just a blogger and not a CEO 🙂

      Have a great day,

      Jérôme

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.