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Post by spaaps on Dec 5, 2018 9:53:48 GMT
Hi, I’m new here. Tried to find experiences of Envestio since it has one of the best interest%, no thread for it? For me it looks so far so good, interest keeps coming, but let’s wait for the first principal paid back.
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Post by wiseclerk on Dec 5, 2018 15:44:48 GMT
Hi, I’m new here. Tried to find experiences of Envestio sincre ot has one of the best interest%, no thread for it? For me it looks so far so good, interest keeps coming, but let’s wait for the first principal paid back.
Check German forum (with Chrome browser for automatic translation)
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Envestio
Dec 22, 2018 12:41:52 GMT
via mobile
Post by spaaps on Dec 22, 2018 12:41:52 GMT
First principal payback received. Looks very good😊 They emailed about a new project but there was none to be found. Was is sold out super fast?
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Post by alistairb on Dec 22, 2018 16:03:32 GMT
I also received my first principal payback and was lucky enough to reinvest in the new loan from the same borrower. As you point out the emails tend to arrive some time after the loan becomes available, and so may be sold out by then. In this case it was not even on the projects page when I invested after seeing it listed as available. Even the details were incomplete but it was not difficult to guess that it was a further tranche of the Urban Mining loans. I have to admit to having the advantage in some cases of being on a different time zone from Europe!
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Envestio
Dec 22, 2018 16:45:27 GMT
via mobile
Post by spaaps on Dec 22, 2018 16:45:27 GMT
All right. Anyway I want to diversify so it was not so bad that it was fully invested and I missed the opportunity. Just strange even though I visit envestio site too often😃
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malakas
New Member
Posts: 4
Likes: 1
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Post by malakas on Dec 23, 2018 12:27:58 GMT
I have over 15k invested on Envestion, made over 1k already.
Gotta say it's my favorite p2p lending site by a long shot (=
Hit me up for a referral as we both get a bonus on registering.
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Envestio
Dec 23, 2018 23:24:09 GMT
via mobile
Post by spaaps on Dec 23, 2018 23:24:09 GMT
I have 5 k. 20% of all p2p.
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Post by alistairb on Dec 24, 2018 0:54:58 GMT
This message from Envestio recently sent to the admin of a Spanish fintech forum has useful information if you are anxiously awaiting new investment opportunities.
"There are no projects available for investing at the moment. We used to publish 2-3 investment opportunities per week this year. Now we wish to take a short Christmas holidays break to finalize the results and approve our strategy for the following year. There will be most likely only 1 new project placed (from an already presented loan originator) this year.
We have ongoing negotiations with a couple of new project owners, but they are also now preparing for holidays, etc., as well as other related parties to loan approval/evaluation process do. Many new projects will be introduced beginning of 2019! Stay tuned!"
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Post by southseacompany on Mar 12, 2019 7:48:02 GMT
I'm bumping an old thread here, but I'm wondering, how do you guys research your investments on Envestio? They don't provide financial details of the borrower companies. A quick Google search finds that the two most recent borrowers (fish processor Senga and scrap metal collector All Recycling) both have outstanding tax debt. I'm not too familiar with the Latvian system, so I don't know if "tax debt" means they are in arrears, implying financial distress, or that they simply have taxes that are due later but not paid yet. The companies have also pledged some assets as collateral, which could greatly affect the value of the collateral on the Envestio loans, but you'd have to pay to read that information.
In any case there isn't much time for due diligence since most project get funded within hours of becoming available.
So, do you simply throw money at Envestio and cross your fingers, or do you have some kind of approach for evaluating the projects you invest in?
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Post by spaaps on Mar 13, 2019 9:26:01 GMT
I just diversify, Envestio is just one of the platform I invest in. And only 100-200 €/loan.
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Post by southseacompany on Sept 17, 2019 4:48:15 GMT
One of the largest projects in Envestio's history, dolomite mining, is currently seeking funding there. Here's what I've found. The borrower, Dreimanis SIA, has been struck off the VAT register in August. This seems like a red flag, unless there is some benign explanation I have overlooked...? The company's status notwithstanding, the business plan itself seems reasonable. According to Envestio, the company has 800,000 m³ of already mined dolomite ore. The cheapest dolomite I found on Alibaba is $15 per ton; I'll assume the Latvian market is roughly in line with that. Given the density of dolomite is 2.84 g/cm³, 8m euros worth of processed dolomite would be about 200,000 m³, so if the refining process retains about 1/4 of the ore by volume (I have no idea if this is the case), then Envestio's claim that the dolomite will be worth 8m euros seems reasonable. I really dislike the fact that they say the company might need even more more funding later, but give no details about what the budget looks like. I don't know if readers here are interested in this sort of basic due diligence. I mentioned the VAT problem on the German forum mentioned above and got a somewhat negative reception for bringing it up. But with the current state of disclosure in P2P lending, the only way to find out details is by doing some homework.
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Envestio
Sept 17, 2019 20:41:26 GMT
via mobile
Post by buttchopf23 on Sept 17, 2019 20:41:26 GMT
Such things need to be adressed. There might be a reason for the vat which we don't see yet.
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Post by southseacompany on Sept 18, 2019 14:27:00 GMT
I've contacted Envestio with the VAT question, and their response is: So there is no explanation, hence I suspect my theory of a missed tax payment is correct, but at least there is an assurance that the situation is (supposedly) being remedied.
I'm slightly mystified by the statement that the company doesn't need a VAT number for the dolomite project. Of course they don't need it just to raise funds, but if they intend to buy equipment for the job, they need their VAT number to reclaim value added tax paid for said equipment. I feel this is symptomatic of the overall terrible disclosure in P2P. Can you imagine a public company losing its VAT registration during an IPO but not giving an explanation for it?
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Post by jmot on Sept 18, 2019 22:04:35 GMT
One of the largest projects in Envestio's history, dolomite mining, is currently seeking funding there. Here's what I've found. The borrower, Dreimanis SIA, has been struck off the VAT register in August. This seems like a red flag, unless there is some benign explanation I have overlooked...? The company's status notwithstanding, the business plan itself seems reasonable. According to Envestio, the company has 800,000 m³ of already mined dolomite ore. The cheapest dolomite I found on Alibaba is $15 per ton; I'll assume the Latvian market is roughly in line with that. Given the density of dolomite is 2.84 g/cm³, 8m euros worth of processed dolomite would be about 200,000 m³, so if the refining process retains about 1/4 of the ore by volume (I have no idea if this is the case), then Envestio's claim that the dolomite will be worth 8m euros seems reasonable. I really dislike the fact that they say the company might need even more more funding later, but give no details about what the budget looks like. I don't know if readers here are interested in this sort of basic due diligence. I mentioned the VAT problem on the German forum mentioned above and got a somewhat negative reception for bringing it up. But with the current state of disclosure in P2P lending, the only way to find out details is by doing some homework. I am definitely interested in any type of due diligence on projects or loan originators or borrowers, I noticed that a big chunk of them fail on just basic due diligence. The opacity of the P2P world is probably its biggest risk.
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Post by southseacompany on Oct 23, 2019 1:41:32 GMT
The newest Envestio project is a rather large bridge loan to a Latvian power plant (in two separate tranches). As they tell it, their bank wants to get out of the energy sector and is offering them a good deal to pay down their revolving credit facility. The story checks out: the bank, Luminor, was recently bought by Blackstone, and this sounds like the kind of thing they could do in pursuit of more efficient capital allocation. There was an allegation that the company was scamming Latvian taxpayers by getting subsidies reserved for energy-efficient producers while actually not adhering to the efficiency requirements, but apparently the investigation fizzled out after the previous Minister of Economy stepped down. I would prefer them to win on the merits of the case rather than by apparently being connected to the right people, but nevertheless that risk seems to have evaporated. All in all, I kind of like this deal. There is an economic rationale for it, unlike many other loans on such sites. (Contrast it, for example, with the offer to borrow money at 17% to buy a rental property. The London property market is pretty efficient, so it's unlikely there is a deal so good that it can support a 17% cost of capital. Anyone planning to borrow at such a rate for a buy-to-let flat there is likely either a moron or a scammer.) Of course, there are also some concerns. Most notably, the same company has borrowed money on Envestio before, which is due for repayment in a few months. Supposedly the two projects are unrelated, but how do we know the company isn't using the newly raised money to roll the old debt and hide any difficulties in financing it might be having? Anyone have further thoughts on this loan?
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