PeerBerry's loans list

PeerBerry review

PeerBerry’s overview

PeerBerry allows to invest in individual loans, with interest rates around 12%. These loans are secured by a buyback guarantee.

My opinion on PeerBerry

Thanks to the large selection of reliable loan originators A loan originator is the firm that originally provides the loan to the borrower.
They usually lend a small percent of the amount using their own funds, while the
remaining is put on sale on loans marketplaces. The part of the loan kept by the
originator is called called skin in the game; it’s typically 5%-10% of the
loan amount, and is supposed to encourage originators to provide quality loans.
, overall ease of use and good returns, I’ve decided to increase PeerBerry‘s overall rating.

Detailed ratings

Actual performance

The interest rates are comparable to these found at most competitors.

Loans liquidity

There’s a large amount of loans, and until now I never witnessed a cash drag.

Reporting

The statistics are basic but overall sufficient.

Transparency & reliability

Although few details are provided regarded each loan originator, PeerBerry seems like a reliable platform.

Website ergonomics

PeerBerry’s website is very user-friendly.

PeerBerry’s pros & cons

Pros

  • Extremely regular performance
  • Great diversification thanks to the many loans originators
  • Many loan originators belong to the profitable Aventus Group, which makes them rather reliable
  • Very user-friendly interface

Cons

  • No secondary market
  • Auto-invest screen could be slightly improved; it’s also the case for the transactions list’s interface

Loans characteristics

Loans duration

Short-term : one month or less

Medium-term : one month to one year

Long-term : more than one year

Loans kinds

Individual

Minimal investment

€ 10

Buyback guarantee

Buyback guarantee available

Currencies

EUR – Euro

Overview of PeerBerry’s loans

PeerBerry offers only loans in Euro. Their duration vary greatly; there are payday loans with a duration shorter than one month as well as car loans for a 3 years duration. Interest rates are mostly in the 11% – 13% range, and all loans yield interests monthly.

Most borrowers are located in Ukraine, followed a large share of Polish loans. Other countries include Russia, Lithuania, Czech Republic, Denmark, Kazakhstan and Republic of Moldavia.

PeerBerry's loans list
PeerBerry's loans list

The minimal investment is € 10.

PeerBerry’s Customer Loyalty Program

Investors with a large portfolio will be rewarded by a greater interest rate after 3 months on the platform. The bonus starts at an additional 0.5% for portfolios larger than € 10,000, and can be as high as 1% for € 40,000 portfolios.

PeerBerry's loyalty program
PeerBerry's loyalty program

Compared to Swaper‘s Loyalty Bonus, PeerBerry‘s offer is less generous, as it requires a larger portfolio and the final interest rate is lower. Indeed, Swaper’s interest rates are bumped to 14% for portfolios larger than € 5,000.

Loans volume

I didn’t notice any cash drag at PeerBerry since I started investing, which is a great advantage over competitors Swaper and Robocash.

Loan originators

As I’m updating this review in February 2020, there are 23 loan originators at PeerBerry. The largest share of loans on the platform (around 80%) come from originators which are subsidiaries of Aventus Group. 15% are issued by subsidiaries of Gofingo, while the remaining 5% come from LitHome, an issuer of real-estate loans.

A short description is available for each of them, as well as figures for their revenues and loans volume. Compared to Iuvo, the provided information could be improved, both in term of contents and readability.

PeerBerry's loan originators

However, PeerBerry recently posted two blog posts regarding Aventus Group and Gofingo.

PeerBerry unfortunately doesn’t provide any rating for originators, so it’s hard to evaluate their reliability. However, a great source of independent ratings is Explore P2P’s ratings for PeerBerry’s loan originators. Although most originators actually received low ratings, they’re expected to increase once the 2019 financial reports become available. A reassuring aspect is that Aventus Group (the parent company of many PeerBerry loan originators) is financially very solid, as outlined in a recent PeerBerry blog post.

Buyback guarantee

PeerBerry‘s buyback guarantee covers both capital and accrued interests. It triggers after a 60 days delay.

Platform’s transparency and reliability

The top management is introduced on PeerBerry’s website, along with links to their LinkedIn profile. Current CEO Arunas Lekavicius has more than 10 years of experience of finance. What’s unclear is the company’s current ownership; the platform was originally founded by Aventus Group, but was sold.

In terms of reliability, the fact that most loan originators on the platform are subsidiaries of the large, profitable Aventus Group is a large positive – although more information could be available regarding each loan originator -.

Overall, although the platform’s transparency could be further improved, it’s regarded as very reliable.

Platform’s features

Early exit

Early exit NOT AVAILABLE

Investing methods

Auto-invest

Manual investing

Secondary market

There’s currently no secondary market; according to the FAQ, it’s a planned feature for long-term loans.

Manual investing at PeerBerry

Although investing automatically is much more convenient, it’s possible to invest manually at PeerBerry. The loans list can be filtered using a variety of criteria :

  • interest rate
  • remaining loan term
  • investment amount
  • country
  • loan originator
  • loan type
  • presence of a buyback guarantee

This last criterion is actually useless, as all loans on the platform come with a buyback guarantee.

Like most competitors, PeerBerry displays many details about the borrower and loan purpose.

Loan details at PeerBerry
Loan details at PeerBerry

Auto-invest

Like the remaining of the website, the auto-invest screen is rather easy to use. It’s definitively much easier to use than the one at Mintos, but less readable than at Swaper or Fast Invest.

A few minors improvements are possible, though, though. First, there’s a small glitch which causes the unit (days or months) for the remaining loan term to be partially hidden. Also, it’s not possible to quickly check if all originators or countries are checked without clicking on the combo box. Finally, several labels are rather small, which makes them hard to read.

Part of PeerBerry's auto-invest screen

Website’s ease of use

Languages

English, German, Spanish

Funding methods

PeerBerry’s registration process

Registering a PeerBerry account is quick and easy. There’s currently no KYC procedure.

Account funding and funds withdrawal

Website’s design and ergonomics

While PeerBerry‘s website won’t win design awards, it’s very easy to use.

Available languages & translations quality

PeerBerry‘s website is available in English and German. Overall the English translation is good, although some sentences could be rephrased.

Reporting

The usual array of reporting screens is available at PeerBerry : account balance, transactions list, investments list.

The layout of the transactions list could be slightly improved : indeed, the top of the screen displays the transactions filters, the account summary… but it’s necessary to scroll down to see the transactions themselves.

On the dashboard, investors will be able to see their portfolio’s net annual return; however, this is the value for the expected XIRR, not the current one ! In my initial PeerBerry review, I pointed the fact that the displayed value was 12.56%, while my computed XIRR was 11.56%. These values are now much more in agreement : 11.82% according to PeerBerry, 11.61% based on my own computations.

Documentation

Overall, the documentation could be improved. For example, the FAQ doesn’t mention the buyback guarantee. It would also benefit from a re-ordering; indeed, it currently starts with mentioning the Loyalty program, but it would be more logical to start with the registration process. The How it works page is quite succinct.

Support

It’s possible to reach PeerBerry by live chat during business hours. The platform’s website also includes their phone number, and an e-mail address.

I got in touch with the support twice as I had questions about the buyback guarantee. The delay to reply was a bit long (usually 2 business days), but the answer was precise.

Communication from the platform​

The frequency of the account overview e-mail is configurable; it can also be disabled. Similarly, it’s possible to opt-out of the monthly newsletter.

Actual performance of my PeerBerry portfolio

11,55%

At the end of January 2020, the XIRR for my PeerBerry portfolio was 11,55%.

The performance of my PeerBerry portfolio is slightly lower than expected, although extremely stable. Overall I consider that it's a great result when taking the platform's reliability into account !

Don't hesitate to read my most recent crowdlending portfolio review for detailed platforms performance comparison as well as historical performance.

Portfolio creation date

I created my PeerBerry portfolio in January 2019.

PeerBerry's main competitors

For a detailed comparison of the different p2p-lending marketplaces, check out this article.

PeerBerry's facts & figures

Location

Riga, Latvia

Founded in

2017

Number of investors

17,300

Loans amount financed

€ 191,606,447

Historical return

11.51%

As of January 2020

Who can invest at PeerBerry

PeerBerry is applicable for investors who can make deposits from their own accounts opened with the credit institution, payment institution or electronic money institution registered and licensed in the country, to which the regulatory and other requirements for the prevention of money laundering and terrorism financing in accordance with European Union legislation apply. Basically You can become an investor of PeerBerry if You have a possibility to make a money transfer from any European Union bank, via Paysera, TransferWise or other payment provider which is credible for us.

PeerBerry's support

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.

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