I’m a big fan of P2P lending and I current lend via LinkedFinance, Mintos and Twino. It’s always a good idea to spread around the investments among different loans and different platforms to minimise risk. Recently I’ve started looking into VIAINVEST and today I decided to sign up. VIAINVEST is a part of VIA SMS group which was founded in 2008 and operates in Sweeden, Latvia, Poland, Czech Republic and Spain. It is similar to Mintos and Twino where you buy a part of already issued loans and in return earn interest. With VIAINVEST there are a lot of short-term loans that mature between 7 to 30 days as well as long term instalment loans. There is a Buyback Guarantee offered on loans that guarantees loan originator intent to repurchase the active loan contract if it has been delayed for more than 30 days. Signing up was easy and my first impressions have been very positive.
The sign up form is one single page and straightforward – the only issue I found is the swipe button that is used to confirm if you are a politically exposed person. The default position is as it is shown in the screenshot and that means ‘no’ is selected. It is probably just me but I feel it’s not 100% clear. I expected it to be checked or highlighted.
Once this form is filled out your account is active and ready for deposits. You can add funds to VIAINVEST by SEPA bank transfer. Clicking Add Funds will display the bank account details needed. I initiated the transfer on Thursday at 3PM and the money was in my VIAINVEST account on Friday morning. You are unable to make withdrawals until you verify your identity. I did this yesterday by clicking Settings and then Upload a copy of a valid passport or ID located under the date of birth field. I uploaded a copy of my passport. After 20 minutes I received an email confirming my account was fully verified.
There seem to be a lot of loans available to invest in at the time of writing there are over 1,400 loans available.
I decided first to deposit just €25 into VIAINVEST to get a feel for the system. Once it was cleared in my VIAINVEST account I set up an auto-invest portfolio by clicking Invest and then selecting Auto Invest.
You can choose a portfolio size, maximum amount to invest in one loan, interest rate range, loan term range, loan status, loan originator, loan type, buyback guarantee and do you want to reinvest.
Once you have set up the auto-invest portfolio the settings are displayed.
Around 10 minutes after setting up my auto-invest portfolio the €25 I deposited into my account was invested. I clicked into the loan and you get quite a lot of details regarding the loan.
I’ve been very impressed with VIAINVEST, the user experience is very good and everything is simple to do. There is a huge range of loans available and verifying my account was quick. I’ve already sent off another more sizeable SEPA transfer to my account and hope to keep using the platform to invest.