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Post by thep2pinvestor on Mar 15, 2016 20:14:07 GMT
Not sure if there are some french speakers here. I'm new to P2P lending and one big trouble is that the vast majority of P2P platforms do not accept foreign investors. For example in Germany i have not found a single one. In France, Pret d'Union accepts foreign investors, although it probably helps a lot to know some french to open an account. They offer several claims funds (fonds de créances) where the money of investors is pooled in several pots according to risk profile and duration. Returns are rather modest with up to 6 % in the most risky profile. I have invested a small amount with them just to check how it works ( they require a minimum of 1'000 Eur). The advantage is that they are supervised by the french banking regulator and securities regulator. They also have some very robust french institutional investors and the whole environment looks quiet safe to me. If anyone has some experience with them, don't hesitate to share here.
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Post by wiseclerk on Mar 15, 2016 20:20:50 GMT
Did you ask for the access criteria for foreign investors? I did. And you have to fulfill 2 out of 3. It is more like "accredited investors" only. But find out yourself.
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Post by thep2pinvestor on Mar 15, 2016 21:17:06 GMT
Did you ask for the access criteria for foreign investors? I did. And you have to fulfill 2 out of 3. It is more like "accredited investors" only. But find out yourself. Absolutely Wiseclerk, you are right. - you need to be an 'active' investor in financial markets - need to have worked at least 1 year in finance - have a portfolio of at least 500'000 Eur invested in financial assets 2 out of 3 criteria have to be fulfilled. The account opening documents need to be physically sent to Paris. So it takes a couple of days before you get the green light to go ahead. But I think that we as P2P lenders are long term investors, so we shouldn't care to much about 2-3 days delay ?
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shimself
Member of DD Central
Posts: 2,560 
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Post by shimself on Mar 17, 2016 20:01:06 GMT
I live and pay taxes in France so that bit is easy
I recently started pulling out of pretdunion
1 because if there is a downturn then I don't fancy consumer loans
2 because the returns aren't great
3 they recently said something in a newsletter about having learned lots of lessons about choosing good borrowers. Hmm, how nice of them to practice with my money*
And to prove that something isn't good, the 30 day notice is up and some loan parts are still not cashed.
They are connected (owned?) by Arkéa who also run Fortuneo online bank, which I like, and suravenir insurance and also a assurance vie (think of a cross between life insurance and an ISA, very popular here). The service is actually good, which is often not the case here, and their websites work well, it feels like a good business, BUT They give a bit of a superior savings rate and their charges are low as are the insurance rates, so they are "buying the business" rather than looking after their profits, it makes me think of Icelandic banks.
* seeing as they are owned by a bank which has been around for a long while it sems a bit odd they couldn't do proper credit scoring, I suppose it's the online that gave them problems.
I really really wanted them to be good, because of course my outgoings are in €uros so it would be nice to balance that with income, but I've gone all paranoid.
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Post by thep2pinvestor on Mar 18, 2016 6:45:09 GMT
Ok thanks a lot Shimself for sharing your experience.
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