arnis
New Member
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Post by arnis on Jan 3, 2017 10:16:28 GMT
Yeah, short time ago I opened an account and deposited 100eur to check out Investly. Now I see that Im not able to get any investments + even if I would, they are all at 8%, which is not acceptable for me. I will also pull out if I wont be able to invest my 100eur in various invoices >13% this month.
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Post by kristjan on Jan 3, 2017 12:07:34 GMT
We are aware that demand from investors has grown faster than the supply of invoices. To increase the supply, we're working on a number of new ideas, which include: - More sales representatives. At the end of last month, we hired new sales representatives to help bring in new companies (one in Estonia, one in the UK). We're also looking to fill another sales rep position in London (jobs: investly.workable.com/).
- In addition, we're working on a referral scheme whereby we pay for leads that end up selling an invoice. This should be ready in a week or two and will help the supply side.
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Feb 9, 2017 16:24:47 GMT
Hi,
Im intererested in Investly to invest, but what happend if the invoice is in default, do they have these invoices secured ? or eventually is there something like in the others p2p sites , buyback or its covered by Investly ?
Thanks
Hi,
If the debtor cannot make the payment, we will do a recourse - i.e. ask the invoice seller to repurchase the invoice with interest (and late fees). Most of the debtors are many times larger than the smaller companies selling the invoices which means that the risk of payment difficulties is rather low. Sellers also sign a director's guaranty, which means we can ask for payment from the seller company's director as a last resort. To help investors assess the risks involved, we display a credit rating and insolvency probability (these are provided by credit agencies) in addition to the description of the companies sent via email (this information will be displayed on the new website as well).
Our credit team analyses both the seller and debtor company before selling any invoices. From the seller we receive bank statements dating back 6 months, which allows us to assess the creditworthiness of young and small companies as well as larger ones.
These and other questions are covered in our investor support knowledge base: investors.investly.co/hc/en-gbThis is not likely to be the problem. IME the problem will likely be that the buying company disputes the invoice. They could dispute part or all of it on all sorts of grounds. In an extreme (and unlikely) case an unscrupulous firm could generate entirely bogus invoices and try to factor them, so you need to be on the ball
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kulerucket
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Post by kulerucket on Feb 9, 2017 18:22:32 GMT
It isn't unusual to reject an invoice at all. At least in the software industry. Requirements are not met, invoices submitted without reaching the payment milestone, incorrect tax codes, wrong business address specified, service level agreements not met etc, etc. I've always wondered what happens in these cases when an intermediate party sits in the middle.
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kulerucket
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Post by kulerucket on Feb 9, 2017 18:44:15 GMT
In any case, I'm winding down this platform until I see a large increase in invoice availability. 8% plus dead periods don't make it a very good earner.
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Post by kristjan on Feb 10, 2017 9:12:52 GMT
This is not likely to be the problem. IME the problem will likely be that the buying company disputes the invoice. They could dispute part or all of it on all sorts of grounds. In an extreme (and unlikely) case an unscrupulous firm could generate entirely bogus invoices and try to factor them, so you need to be on the ball Avoiding dispute risk is important and that's why we ask for confirmation from the debtor company. In addition, our team performs financial and background checks on our customers and the debtor companies.
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p2pmaster
investment is life.
Posts: 128
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Post by p2pmaster on Feb 10, 2017 9:24:40 GMT
I still have faith in their upcoming portfolio growth, but I agree that 8% for construction invoices are not sufficient to cover the risk. I will give it few more months before pulling out...
kulerucket, you might try invoices on mintos platform, there are two independent loan originators and availability is high.
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Post by kristjan on Feb 10, 2017 9:35:36 GMT
Thank you for sticking with us! I'm sure the next few months will show that it was well worth it. We are in the middle of some changes to the interest rate logic* and we are focusing more on sales. In particular, we are focused on diversifying the invoice portfolio so that investors can spread their risk between different sectors. *We will be changing the minimum interest rates for invoices based on company risk profiles.
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kulerucket
Member of DD Central
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Post by kulerucket on Feb 10, 2017 12:32:14 GMT
I still have faith in their upcoming portfolio growth, but I agree that 8% for construction invoices are not sufficient to cover the risk. I will give it few more months before pulling out... kulerucket, you might try invoices on mintos platform, there are two independent loan originators and availability is high. Strangely, I avoid invoice/business loans like the plague on Mintos and stick to Buyback or those strong collateral. It's a bit silly really since I am essentially taking the same risk on Investly for 8% rather than the 14% I would get on Mintos.
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Post by mohito on Feb 21, 2017 9:45:10 GMT
Hi, One of my investment has gone to overdue, what is the average period to payment will be paid ? Eventually have you faced situation that the payment was not payed ? Thanks for your comments.
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Post by kristjan on Feb 21, 2017 11:38:08 GMT
Hi, One of my investment has gone to overdue, what is the average period to payment will be paid ? Eventually have you faced situation that the payment was not payed ? Thanks for your comments. Hi, 95% of the invoices get paid early, on time or within 14 days of the due date. The rate is 97% if weighted by the advance (in euros or pounds). In cases where the payment is made later than two weeks, there is always circumstances that are unique - sometimes a project gets delayed, sometimes there are liquidity issues etc. In all of the cases, we are in communication with the seller and the debtor. If we don't receive payment within 30 days, we ask the seller to repurchase the invoice. We've done this on a number of cases (less than 10 to date, though). One invoice did default, but it was recovered soon after. So far investors have not suffered losses, but to be on the safe side, I encourage investors to diversify. This means not putting a significantly higher amount of funds into any one single invoice. I should also note that we are changing the minimum interest rate for invoices in a few weeks from now. Riskier companies will have a higher minimum rate. This is to compensate investors for higher risks that they are taking.
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Post by kristjan on Feb 21, 2017 12:02:17 GMT
I should also note that we are changing the minimum interest rate for invoices in a few weeks from now. Riskier companies will have a higher minimum rate. This is to compensate investors for higher risks that they are taking. This feature is now live.
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ali
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Post by ali on Feb 21, 2017 23:11:38 GMT
I should also note that we are changing the minimum interest rate for invoices in a few weeks from now. Riskier companies will have a higher minimum rate. This is to compensate investors for higher risks that they are taking. This feature is now live. But seems to work in a very odd way. Invoice #INV-0006 went for 11%, fair enough. But it would appear that the autobidder only placed bids for people who were not prepared to lend at below 11%, which seems very wrong. Instead people who have autobid set below 11% should have been treated as if it was set to 11%.
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Post by kristjan on Feb 22, 2017 8:31:29 GMT
This feature is now live. But seems to work in a very odd way. Invoice #INV-0006 went for 11%, fair enough. But it would appear that the autobidder only placed bids for people who were not prepared to lend at below 11%, which seems very wrong. Instead people who have autobid set below 11% should have been treated as if it was set to 11%. The autobidder rate is the lowest rate at which an investors is willing to participate in an auction. If the minimum rate for an auction is 10%, the bid will be made at 10%. However, if you did not manage to get invested in one particular invoice, it is because the demand for that invoice outstripped supply (more investors making bids means not everyone will get in).
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ali
Member of DD Central
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Post by ali on Feb 22, 2017 9:25:00 GMT
But seems to work in a very odd way. Invoice #INV-0006 went for 11%, fair enough. But it would appear that the autobidder only placed bids for people who were not prepared to lend at below 11%, which seems very wrong. Instead people who have autobid set below 11% should have been treated as if it was set to 11%. The autobidder rate is the lowest rate at which an investors is willing to participate in an auction. If the minimum rate for an auction is 10%, the bid will be made at 10%. However, if you did not manage to get invested in one particular invoice, it is because the demand for that invoice outstripped supply (more investors making bids means not everyone will get in). If I understand you correctly, anybody who had their autobid rate set at, or below, 17% had the chance to bid. Because this was a tiny invoice, only a few of those people who had a chance to bid were actually chosen (at random) to bid. Those that were chosen to bid had their bids adjusted so that the rate was the minimum of their set autobid rate and 11%. If that's a correct understanding, then that makes a lot of sense. It might help to reduce confusion to add a line to the invoice just above the bid table saying something like "12 investor bids selected at random from the 104 investors who made an automatic bid. For brevity, unselected bids are not shown below."
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