Lending with Flender in Ireland

Last week I wrote a post about signing up with Flender.ie which is a very easy process. I decided to invest €50 (the minimum amount) to try out the process and see whether I’d make further investments on the platform. While signing up was a very straightforward process I’ve found the website a bit confusing with some bugs.

  • When you are logged into your lending account and select ‘Marketplace’ to view a list of loans you can lend in, on the top right it appears as if you are logged out. However, when you select the individual loan, the top right again shows your logged in message.
  • The site can be very slow to load. When you click on a button to navigate to another page, there is no feedback to show the button click has been registered. It can take 5+ seconds to load the next page so its a pretty poor UX.

Overall though the website is good to use and functional. Lending with Flender is just as easy as signing up.

Once you are in the MarketPlace on the website you will see a list of all loans available to invest in. In this case there are just the two available.


Clicking into the loan will provide more information about the loan including the preferred interest rate.



You can select what interest rate you wish to lend at.



Then there are four steps to lend. First, you select how much you wish to lend, confirm the repayment period and the interest rate.



Next you will be shown what the monthly repayment will be, the last repayment date and the profit you will make from this loan.



Then you select how to fund your Flender account. You can complete a bank transfer or pay by credit/debit card. I used my N26 Debit Card to pay the €50. The transaction appears as BPO COLLECTIONS LTD on your Statement. Initially I didn’t recognise the name and ended up ringing BPO Collections who weren’t able to give me an answer as to what the charge was for. Finally, it clicked.



The next step is to wait until the loan is fully funded. You will receive an email once this is the case.

Lending is very easy with Flender and I like the fact you can select an interest rate. There are no fees to lend with Flender so as an overall platform I prefer it to LinkedFinance. However, the major downside is there is a lack of available loans to invest in. At the time of writing there is only one more loan I could invest in.

Flender is quite large in the UK so hopefully they will expand in Ireland and become a viable alternative to LinkedFinance. I’ll keep an eye on Flender and may well invest in future loans. However, my main P2P lending will continue to be with Mintos, Twino, VIAINVEST and DoFinance. Either way, the more options the better.

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