PeerBerry review

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

My PeerBerry portfolio has a performance that’s roughly similar to my Swaper and Robocash portfolios. In terms of usability, PeerBerry lags behind Swaper, but is clearly more user-friendly than Robocash. Moreover, it has the advantage of not suffering of the cash drags that used to plague these two competitors; it also features a larger number of loan originators. Overall, this platform is well worth looking at for investors who want to diversify their P2P loans portfolio.

Detailed ratings

Performance

The interest rates are lower than at Fast Invest or Viventor.

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.

Buyback guarantee

The buyback guarantee triggers after 60 days, a delay that’s a bit long; however, it covers both principal and accrued interests.

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
  • Very user-friendly interface

Cons

  • Auto-invest screen could be slightly improved; it’s also the case for the transactions list

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.

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 their competitors Swaper and Robocash.

Loan originators

As I’m writing this review in September 2019, there are 21 loan originators at PeerBerry.

There’s a short description for each of them, as well as figures for their revenues and loans volume.

PeerBerry's loan originators

Unfortunately, PeerBerry doesn’t provide any rating for originators, so it’s hard to evaluate their financial solidity.

Buyback guarantee

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

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

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

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 ! As I’m writing this initial review in late October 2019, my computed XIRR is 11.56% while the displayed value is 12.56%.

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

11,62%

At the end of October 2019, the XIRR for my PeerBerry portfolio was 11,62%.

The performance of my PeerBerry portfolio is lower than expected, although extremely stable.

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

13,100

Loans amount financed

€ 128,274,000

Historical return

11.53%

As of September 2019

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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