Grupeer is different from most other P2P sites I invested in, as it only focuses on business loans and development projects. It’s located in Latvia.
Secured loans : Grupeer’s strong selling point
Grupeer provides only secured loans. Initially the loans supply was very scarce, and my original review showed a screenshot of the five available loans as I wrote it ! However, things have changed for the best and there are now many loans to invest into. Most of them offer annual rates of 14% for a duration of less than one year. The highest-yielding loans are Russian loans offering a whooping 15% for a 3 months duration; they’re currently sold out but are added back regularly, so don’t hesitate to check Grupeer’s website often.
There are many originators available. This allows you to diversify your portfolio by spreading your investments among several originators.
Grupeer sometimes runs a cash-back campaign, meaning they will credit your account with a small percent of your new investments in specified loans. At the end of 2017, they gave back 1% of the amount invested in many 14% loans, bumping their interest rate to 15% ! The loans impacted by this offer are highlighted by a blue € icon.
There’s currently no secondary market; it’s supposed to arrive soon but the release date keeps on slipping so don’t hold your breath !
You can also invest in development projects, which seem more or less equivalent in term of returns. As of April 2018, there are two such projects offering 14% returns for a duration under one year. These projects are described in great details; they’re however different in nature from the loans, and I tend to favor the latter as they’re easier to understand.
Buyback happens when loans are 60 days late or more. The investor will be compensated for the outstanding principal and accrued interest that didn’t get reimbursed. Until now, none of my loans had defaulted. Note that current development projects are also covered by buyback guarantee.
Grupeer’s website is rather basic but works well. There’s no auto-invest feature, but it’s not really necessary given the small amount of available loans.
One minor inconvenience : should you ever want to filter the list of available loans (for example to check past loans), you’ll notice that the display is painfully slow, but that’s not a feature you’ll often use.
Also, if you’re investing from your mobile phone, it may be hard for you to confirm your investments. There’s supposed to be a blue icon at the top of the screen, but it doesn’t appear on my phone. I had to click on the “Grupeer” logo to switch to a page where it’s visible !
The lack of an XIRR computation is annoying. Apart from this negative aspect, again thanks to the small amount of loans, there’s no need for much reporting.
The website unfortunately doesn’t provide us with any XIRR computation. I computed it manually, and it resulted in a nice value of 14.63% at the end of January 2018 ! I re-invested in loans offering the 1% cashback, which gave my returns an instant boost.
Most of my loans have an interest rate of 14% and all my funds are permanently invested, so I’ll expect Grupeer’s results to be better than those of Mintos.
Conclusion : Grupeer is my favorite P2P lending platform for secured loans
I really like Grupeer; it’s a very low-maintenance P2P lending site, where I have around one loan expiring each month, and returns are currently great. It’s probably the platform where I’ll invest my next available funds.
|Interest rate||14-15% for short term secured loans is great|
|Loans availability||Few loans to choose from, but with large amounts|
|Buyback||Standard buyback terms|
|Website ergonomics||Simple but efficient !|
|Reporting||Can we please see our XIRR ?|
|Global rating||My favorite website for secured loans|
(last update : April 19th, 2018)