I came across the "Peer-to-peer lending platforms" and was wondering if there is anyone who has tried this as an investor and if anyone could share his/her experience? - Seedly
 

Investments

Asked by Anonymous

Asked on 30 Sep 2018

I came across the "Peer-to-peer lending platforms" and was wondering if there is anyone who has tried this as an investor and if anyone could share his/her experience?

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HC Tang
HC Tang, Financial Enthusiast, Budgeting at The Society
Level 8. Wizard
Answered on 30 Sep 2018

Yes. We all did a personal review at seedly :

https://seedly.sg/reviews/p2p-lending

Check out mine too with Fundings Society with 100% success rate (no default) https://seedly.sg/reviews/p2p-lending/funding-societies?rid=12#reviews&utm_source=review_share&utm_medium=internal

A comparison of all the p2p platform by Seedly Content producer :

https://www.google.com.sg/amp/s/blog.seedly.sg/p2p-comparison/amp/

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Kenneth Lou
Kenneth Lou, Co-founder at Seedly
Level 8. Wizard
Answered on 01 Oct 2018

Have shared my review also on the reviews page here! https://seedly.sg/reviews/p2p-lending/funding-societies

Pros:

  • Opened up my world of P2P investing which I never knew much about

  • Relatively clear website with easy to understand visuals and areas

  • Seems like a pretty rigourous KYC (know your customer) process to screen the loans and users

  • Auto invest setting seems interesting (but has not yet worked for me yet)

Cons:

  • The whole onboarding process took really long like almost 4 days long

  • Had documents to eSign and send to them to be verified

  • Biggest con was the lack of deals and loans available to users

Will update as I continue to use this product to share on the returns and defaults especially :)

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Jay Liu
Jay Liu, Sleepyhead at Land of Dreams
Level 6. Master
Answered on 01 Oct 2018

You can check out the reviews. Mines in there too!

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Gabriel Lee
Gabriel Lee
Level 6. Master
Answered on 30 Sep 2018

As HC Tang has shared below, our community members have left their review on the P2P platforms that they have tried. Among all, Funding Societies has the best track record thus far, lowest default rate. After all, P2P is pretty risky since there's a risk of default. But always do your due diligence and diversity your investments by investing into multiple loans so that should one borrower default, you won't lose all of your capital. Otherwise, it offers attractive returns

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