I already published an article listing my favorite platforms a few months ago. However, things change quickly in the peer-to-peer lending area, so here’s the updated version !
I decided to drop Omaraha from the list. While it my still be possible to get great returns there, the low volume of available loans and complexity of the website make it hard for me to recommend it anymore. It’s a pity as I really loved this platform (I still have around half of my portfolio invested there), but I don’t really see much opportunity in the near future.
Mintos is still here but basically in probation. Indeed, there have been recent changes for their originator Mogo, which used to provide a large part of Mintos loans; they bought back many loans with high interest rates, and greatly reduced the interest rates on new loans. As a result, most currently available loans only yield 11.5% at most (with a buyback guarantee), much lower than the previous 14%. We’ll see if this is just temporary of if the situation lasts.
Overall, this incites me to move more of my funds out of peer-to-peer websites and into real-estate and business crowd-lending. While most of these loans don’t come with a buyback guarantee (apart from Grupeer’s), their expected returns are great.