benaj
Member of DD Central
Posts: 4,540 
Likes: 1,512
|
Post by benaj on Oct 27, 2019 13:05:10 GMT
I opened an account in September. Like other investors already mentioned, Flender offers great cashback for new investors and refer-a-friend. 5% cashback on first 30 days investment.
My observations after first 50 days:
- loan pipeline is similar to Proplend, investors receive notification when a new loan listed on the market, invested 1 loan within 50 days.
- Can be funded by bank transfer / instant debit card
- Received my 5% cashback already within first 30 days
- No buyback / No Secondary market
- Irregular repayment schedule for some loans. Monthly most of the loan term with some slightly longer repayment in between.
- Minimum investment is 50 Eur
- Awaiting my first repayment to see real loan performance.
|
|
Ace
Member of DD Central
Posts: 4,692
Likes: 5,229
|
Post by Ace on Oct 27, 2019 16:29:44 GMT
I opened an account in September. Like other investors already mentioned, Flender offers great cashback for new investors and refer-a-friend. 5% cashback on first 30 days investment. My observations after first 50 days: - loan pipeline is similar to Proplend, investors receive notification when a new loan listed on the market, invested 1 loan within 50 days. - Can be funded by bank transfer / instant debit card - Received my 5% cashback already within first 30 days - No buyback / No Secondary market - Irregular repayment schedule for some loans. Monthly most of the loan term with some slightly longer repayment in between. - Minimum investment is 50 Eur - Awaiting my first repayment to see real loan performance. Sorry benaj , but I don't understand the highlighted comment. Did you really only manage to invest in a single loan in 50 days? Or am I misunderstanding / being stupid?
|
|
benaj
Member of DD Central
Posts: 4,540
Likes: 1,512
|
Post by benaj on Oct 27, 2019 16:52:30 GMT
There were about 3 loans listed, but I invested 1.
|
|
|
|
Post by df on Oct 27, 2019 17:55:21 GMT
I opened an account in September. Like other investors already mentioned, Flender offers great cashback for new investors and refer-a-friend. 5% cashback on first 30 days investment. My observations after first 50 days: - loan pipeline is similar to Proplend, investors receive notification when a new loan listed on the market, invested 1 loan within 50 days. - Can be funded by bank transfer / instant debit card - Received my 5% cashback already within first 30 days - No buyback / No Secondary market - Irregular repayment schedule for some loans. Monthly most of the loan term with some slightly longer repayment in between. - Minimum investment is 50 Eur - Awaiting my first repayment to see real loan performance. Sorry benaj , but I don't understand the highlighted comment. Did you really only manage to invest in a single loan in 50 days? Or am I misunderstanding / being stupid? I read it as benaj has chosen to invest in one loan only. I might be wrong  but that's what I would do if I wanted to test drive a new platform and/or receive bonus - invest as little as required and observe for a while before making any further advance. Like some people invested £1 in FS 30-day product - for research/experience purposes rather than profit (or loss is probably a better word for it because they were no under illusion). Just had a quick look at Flender's marketplace - looks similar to Rebs
|
|
benaj
Member of DD Central
Posts: 4,540
Likes: 1,512
|
Post by benaj on Mar 9, 2020 9:25:32 GMT
Update:
Despite the initial cash drag when I opened my account in September last year, my XIRR (excluding 5% bonus) after 180 days is 10%+. Loan deals have been improved in Feb.
According to Flender, they have lent out €21.9 Mil and 5141 lenders registered since 2017. Most loans listed on the marketplace are below €50k mark in the last 180 days, the smallest "catch" is just over €12k, IMO, achieving €21.9 Mil mark @ this rate is just unbelievable.
|
|
Nomad
Member of DD Central
Posts: 722
Likes: 484
|
Post by Nomad on Aug 29, 2023 10:52:47 GMT
Email received today - Up to now, Flender has absorbed all the costs of managing your loans as we did not want to pass these onto you or your SME borrower. It is not sustainable for all stakeholders to maintain this position. As such, we want to inform you that Flender is introducing a monthly platform fee of €12.50 to all of our lenders, starting this month. We have assessed the fee structures across our competitors and we believe this represents fair value to all participants in the current cost environment. This fee will be deducted from your Flender account each month.Great when one has €500 left on the platform earning about €3 per month.  If it takes 2 years to get all of my €500 back, 60% of it will be taken in platform fees. |
|
benaj
Member of DD Central
Posts: 4,540
Likes: 1,512
|
Flender
Aug 29, 2023 12:21:01 GMT
via mobile
Post by benaj on Aug 29, 2023 12:21:01 GMT
Before this new few, I was supposed to make a profit on this platform with two test drive loans.
Assuming I won’t get any € more with one loan €€ outstanding, I made a €€ profit after withdrawing €€ earlier this moth. 😑
|
|
0risk
Member of DD Central
Posts: 217
Likes: 202
|
Post by 0risk on Aug 29, 2023 12:58:23 GMT
Email received today - Up to now, Flender has absorbed all the costs of managing your loans as we did not want to pass these onto you or your SME borrower. It is not sustainable for all stakeholders to maintain this position. As such, we want to inform you that Flender is introducing a monthly platform fee of €12.50 to all of our lenders, starting this month. We have assessed the fee structures across our competitors and we believe this represents fair value to all participants in the current cost environment. This fee will be deducted from your Flender account each month.Great when one has €500 left on the platform earning about €3 per month. If it takes 2 years to get all of my €500 back, 60% of it will be taken in platform fees. Unbelievable! So if one invests to get less than 12.50 monthly including amortization will lose it all, because there is no principal left in this case. And there is no secondary market to exit. Besides, I tried to withdraw now and it is unavailable (it says I already made a withdrawal this month, which is not true). This is not a fee but another way to say they're out of the game.
|
|
rob3583
New Member
Posts: 4
Likes: 5
|
Post by rob3583 on Aug 30, 2023 14:05:45 GMT
After speaking with the CEO Graham Byrne the company will be releasing a statement either this evening or tomorrow.
The £12.5 is to be refunded and a fairer method of covering banking fees to be confirmed.
|
|
but that's what I would do if I wanted to test drive a new platform and/or receive bonus - invest as little as required and observe for a while before making any further advance. Like some people invested £1 in FS 30-day product - for research/experience purposes rather than profit (or loss is probably a better word for it because they were no under illusion).
