|
Post by davids on Feb 7, 2018 18:19:22 GMT
I've like to know your experiences with Investly, as when things go well people usually keep quiet and come to forums to vent anger or ask questions about issues.
I've just tipped a small toe in the water and want to see how things cycle through over the next few months before wanting to increase investment but i like the approximate 30 day rolling invoices
Feel free to share good and bad stories, it all helps
|
|
|
Post by buttchopf23 on Feb 8, 2018 7:35:43 GMT
I quit a year ago as all invoices settled at an 8% yield and I had a cash drag. Until then all went smootly, no losses etc. Just some delays, although sometimes long times with partial payments. Overall very good experience, despite the yield situation. Since then I only reinvested my repayments from the loans I had. So now and then I get to invest in an invoice, most of the time my cash sits on the account though (20 euros).
I was lucky to get in late into the loans, both of mine pay according schedule, one is fully repaid by now. Looking at the loan stats, a big portion defaulted.
What I read about the invoices in the last year is not all promising. Browse through the forum, you will find some stories, although I cannot back them. Looking at their default and recovery figures one would think they are doing good.
By the way, if you want to become a shareholder of investly, they are funding now on seedrs.
|
|
|
Post by davids on Feb 8, 2018 8:01:15 GMT
Yeah, I've read through the forum and mostly read bad experiences but the stats investly are posting show an increase in invoices, which is I guess a good thing providing they're 'good' invoices. I've set my auto bidder to only invest in higher credit rating companies.
I made a deposit yesterday so hopefully it'll appear today and I can soon see if I've set it up correctly.
I've made a small purchase of shares but the whole thing of P2P is new to me but I'm keen to learn
|
|
|
Post by buttchopf23 on Feb 8, 2018 9:28:16 GMT
Increasing volume and most invoices goibg through ai seems to me to be a positive sign.
Good luck on your journey in to the p2p world. Just read, read and make your experiences. I back your assumption that people come to complain more to the forum, then people who are happy to talk about.
|
|
|
Post by D. Antav on Feb 8, 2018 11:12:43 GMT
My experience was horrible.
I had a big default with a crash of a company...and Im waiting yet a judicial outcome.
A risk analysis must evaluate each risk according to the probability of its occurrence.
Investly didn't it this risk analysis.
The company stole more than 150000€ from investors and search by internet is crazy that the company pass minium analysis (a baby would do better without any knowledge.)
Please, in my experience and opinion...AVOID completly this platform. They don't play fairly and the risks analysis are zero. The companies are time bombs.
|
|
|
Post by kristjan on Feb 8, 2018 11:18:44 GMT
I quit a year ago as all invoices settled at an 8% yield and I had a cash drag. Until then all went smootly, no losses etc. Just some delays, although sometimes long times with partial payments. Overall very good experience, despite the yield situation. Since then I only reinvested my repayments from the loans I had. So now and then I get to invest in an invoice, most of the time my cash sits on the account though (20 euros). I was lucky to get in late into the loans, both of mine pay according schedule, one is fully repaid by now. Looking at the loan stats, a big portion defaulted. What I read about the invoices in the last year is not all promising. Browse through the forum, you will find some stories, although I cannot back them. Looking at their default and recovery figures one would think they are doing good. By the way, if you want to become a shareholder of investly, they are funding now on seedrs. It is very much true that people tend to express their negative experiences out in the public and keep most of their positive experiences to themselves. This also holds true for negative experiences that have seen a turnaround. You don't see people expressing their joy when an invoice gets paid early (in that case investors get a higher return, because the interest is fixed upon the day of the sale). This is human nature and therefore totally understandable. These are legitimate concerns and we take them seriously. We've recently introduced a lot of improvements to the investor user interface to help investors make better decisions and get a more accurate overview of their portfolio and the payment habits of debtors. We've also improved the autobidder thus helping investors improve their diversification across companies. These developments are the direct result of feedback from our investors. As far as defaults and particular invoices are concerned, I'd be glad to offer more information over e-mail (kristjan /at/ investly /./ co).
|
|
|
Post by kristjan on Feb 8, 2018 12:01:10 GMT
My experience was horrible. I had a big default with a crash of a company...and Im waiting yet a judicial outcome. A risk analysis must evaluate each risk according to the probability of its occurrence. Investly didn't it this risk analysis. The company stole more than 150000€ from investors and search by internet is crazy that the company pass minium analysis (a baby would do better without any knowledge.) Please, in my experience and opinion...AVOID completly this platform. They don't play fairly and the risks analysis are zero. The companies are time bombs. I'm sorry to hear that you've had a negative experience. If you would like to discuss this particular situation further, please contact me directly. As far the your comment is concerned, I have to say that this is not a fair representation of the situation. - Investly has taken legal measures to collect the debt, which has resulted in Investly securing a mortgage on behalf of investors. The court proceedings are still ongoing. - We've done an ex post analysis of the facts and there was nothing to indicate the sort of risks that materialized. Unforeseeable risks materialize exactly because they could not be foreseen. In these cases it is important to have measures in place to help collect the debt. To protect against losses, Investly has the right to demand the invoice seller to repurchases the invoice. We also secure a personal guaranty from the seller company director as further protection. Our contracts give us the right to pursue the debt against both parties. Depending on the case, we have used one or several of these measures to successfully collect debts. As far as ongoing court proceedings are concerned, it would be a gross injustice to measure the success rate of these cases before the court has arrived at a judgement.
|
|
|
Post by davids on Feb 8, 2018 12:32:38 GMT
If my opinion is worth anything as an outsider even after reading the negatives I want to give it a chance and my account was credited today so hopefully I'll soon see if I get a portion of the next invoice!
There's always risks when investing in p2p, it's just how it's handled as to whether I have confidence in the platform or whether there are ant updates to investors as to how they have learned from the issues
As I posted this I just got an email saying my autobid was accepted so here we go!
|
|
|
Post by glensm on Feb 15, 2018 10:14:32 GMT
For what it's worth, I've had mostly a good experience with Investly. I have cash in Sterling and Euro invested.
There have been late payments and defaults, but it seems that the late payers are being managed reasonably well by Investly.
Important to remember this is a ~3 year old company doing something that the industry has decided it's not worth doing in the past.
Invoices are fairly lumpy - there is cash drag in the system and there is more supply in € (investors) than demand (invoices) but the roadmap suggests they're going to expand further in the €zone in the next 12 months.
I have been slowly but steadily increasing my exposure to Investly - happier with slightly draggy returns that are supporting small biz cashflow than payday loans (where a lot of the risky/high%age loans in p2p are)
|
|
|
Post by D. Antav on Feb 19, 2018 19:22:56 GMT
My experience was horrible. I had a big default with a crash of a company...and Im waiting yet a judicial outcome. A risk analysis must evaluate each risk according to the probability of its occurrence. Investly didn't it this risk analysis. The company stole more than 150000€ from investors and search by internet is crazy that the company pass minium analysis (a baby would do better without any knowledge.) Please, in my experience and opinion...AVOID completly this platform. They don't play fairly and the risks analysis are zero. The companies are time bombs. I'm sorry to hear that you've had a negative experience. If you would like to discuss this particular situation further, please contact me directly. As far the your comment is concerned, I have to say that this is not a fair representation of the situation. - Investly has taken legal measures to collect the debt, which has resulted in Investly securing a mortgage on behalf of investors. The court proceedings are still ongoing. - We've done an ex post analysis of the facts and there was nothing to indicate the sort of risks that materialized. Unforeseeable risks materialize exactly because they could not be foreseen. In these cases it is important to have measures in place to help collect the debt. To protect against losses, Investly has the right to demand the invoice seller to repurchases the invoice. We also secure a personal guaranty from the seller company director as further protection. Our contracts give us the right to pursue the debt against both parties. Depending on the case, we have used one or several of these measures to successfully collect debts. As far as ongoing court proceedings are concerned, it would be a gross injustice to measure the success rate of these cases before the court has arrived at a judgement. I tried to explain this case and why the management of risk were too much negative by Investly and not profesional. The company (B*** B******* OÜ) has in Investly these data: Active since: 15/06/2009 + Annual turnover: €4,782,617.00 It has a category of AA in Investly. Investly described that this company has a "B*** B******* OÜ specializes in the construction of wood-frame houses. The company has constructed more than 5000 wood-frame buildings since 2009. B*** B******* had a turnover €1.9 million in 2015". However, Investly didn´t provide documentation about this analyzing from risks and anything that demostrate these afirmations. However, B*** B******* OÜ company (by www.e-krediidiinfo.ee, external web for analyzing for risks companies) the details are too different: Annual turnover: €10,736 (and not 4 million that Investly showed) Number of employer 1 (probably was not a big company, it isn´t?) Email ******@gmail.com (who has annual turnover for more than 4 million and use gmail free account for a company?) Finally, the data that Investly showed for investors were absolutly different from the company reality. It is not a profesional analize for risks, it isn´t?). For a Company that had annual turnover of €10736 stole for more than €100000 (from Investors that entrust in Investly habilities). B*** B******* OÜ (Invoice 535) Sale price €76,403.59 (Invoice 522) Sale price €50,387.52 As investor with several years in P2P. AVOID this platform. They don´t do the job and you have a high probability of losing your money (for get 8%-10% you have several other platforms that do his analyzing risks). Avoid amateur P2P companies as Investly. Any doubt, let me know directly here or private message and I can expand you for informacion about my experience.
|
|
|
Post by kristjan on Feb 20, 2018 9:20:28 GMT
I tried to explain this case and why the management of risk were too much negative by Investly and not profesional. The company (B*** B******* OÜ) has in Investly these data: Active since: 15/06/2009 + Annual turnover: €4,782,617.00 It has a category of AA in Investly. Investly described that this company has a "B*** B******* OÜ specializes in the construction of wood-frame houses. The company has constructed more than 5000 wood-frame buildings since 2009. B*** B******* had a turnover €1.9 million in 2015". However, Investly didn´t provide documentation about this analyzing from risks and anything that demostrate these afirmations. However, B*** B******* OÜ company (by www.e-krediidiinfo.ee, external web for analyzing for risks companies) the details are too different: Annual turnover: €10,736 (and not 4 million that Investly showed) Number of employer 1 (probably was not a big company, it isn´t?) Email ******@gmail.com (who has annual turnover for more than 4 million and use gmail free account for a company?) Finally, the data that Investly showed for investors were absolutly different from the company reality. It is not a profesional analize for risks, it isn´t?). For a Company that had annual turnover of €10736 stole for more than €100000 (from Investors that entrust in Investly habilities). B*** B******* OÜ (Invoice 535) Sale price €76,403.59 (Invoice 522) Sale price €50,387.52 As investor with several years in P2P. AVOID this platform. They don´t do the job and you have a high probability of losing your money (for get 8%-10% you have several other platforms that do his analyzing risks). Avoid amateur P2P companies as Investly. Any doubt, let me know directly here or private message and I can expand you for informacion about my experience. I'm sorry that you've had to wait for your money back for such a long time. As I've said previously, our team has taken all the steps needed to collect the debt. The collection history of the invoices concerned had more details, please refer to those for a complete overview. As for your claims, I've provided answer by topic to each one: RatingsRatings for Estonian companies are provided by CreditInfo Estonia. The rating has been revised downward after the company became insolvent, the rating displayed on the Investly website is from the time that the invoice was financed. At that time, the company had a good credit history and was well capitalized. Turnover
Annual turnover (EUR): 2014: 1 985 267 2015: 1 890 615 2016: 4 782 617 The figure that you cite above is the share capital of the company, not the annual revenue. Employees
The number of current employees is misleading, because the company is no longer a going concern. One should instead look at the number of workers at the time the invoice was financed and also before that. The annual report quotes the number of workers in 2016 as 24 (snapshot from the time the balance was closed for 2016). The Estonian tax authority keeps a record of registered employees, which at the end of Q1 2017 was quoted at 38. Contact detailsThe current contact address of the company bears no relevance here. Contacts details were changed after the company started having difficulties with payments. You can check the historic contact details and the dates they were changed from Estonia's public registry. CreditInfo usually displays only the latest data, which is what you saw. In the future, please contact us directly if you have questions and concerns so that we can address them. In this case, we could have helped point out the errors in your analysis of CreditInfo data and point you to the correct data. We understand that credit registries and other analysis tools require professional user experience and are not always straightforward to use, and this is why it is critical to ask for help from someone that has the experience. We have provided plenty of information about the debt collection proceedings in the collection history window of the invoices concerned and have been in contact with investors who have had extra questions about the meaning of some of the information. It is absolutely understandable that not everyone is familiar with court proceedings and some people do have extra doubts, concerns or questions. I invite you to contact us directly in the future.
|
|
|
Post by davids on Feb 26, 2018 12:58:14 GMT
Just had my first invoice paid back, was a week late but paid nonetheless, meant the interest came out to be 9.13%, cash was then re-lent out within 90minutes.
No complaints from me so far.
|
|
|
Post by kristjan on Feb 26, 2018 13:45:48 GMT
Just had my first invoice paid back, was a week late but paid nonetheless, meant the interest came out to be 9.13%, cash was then re-lent out within 90minutes. No complaints from me so far. Hi David, just to clarify, investors have a right to receive penalties for late invoices. These are usually paid with the invoice or following the financing of a future invoice. This ensures that realized yields correspond to expected yields (i.e. that late payments doesn't eat up the return). Investors get to keep the extra interest when invoices are paid early. Data on payment habits (early, on time and late payments) is available on the account overview page. To find out you realized yield for any particular invoice, please download the portfolio spreadsheet from you account overview page.
|
|
jimc99
Member of DD Central
Posts: 284
Likes: 115
|
Post by jimc99 on Feb 26, 2018 15:21:05 GMT
I've like to know your experiences with Investly, as when things go well people usually keep quiet and come to forums to vent anger or ask questions about issues. I've just tipped a small toe in the water and want to see how things cycle through over the next few months before wanting to increase investment but i like the approximate 30 day rolling invoices Feel free to share good and bad stories, it all helps I'm just in the UK investly. Pretty good with gross return around 13% Being able to set your bid rules has improved things from when I started.
|
|
|
Post by davids on Feb 26, 2018 15:25:04 GMT
yeah, i have to admit, i like being able to set a limit per invoice & per buyer. Thinking about setting up a small standing order probably bi-weekly if things continue to go well.
|
|