Asked by Kenneth Lou

Share your P2P Lending Platform (Funding Societies, CoAssets, MoolahSense, Capital Match, Minterest, SeedIN) returns and performance so far?

This will greatly help those making a decision. Do share the overall returns, default rates and experience overall etc.

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  • Cassandra Tho
    Cassandra Tho
    Level 5. Genius
    Answered on 18 Apr 2019

    I'm Cassandra, the community specialist from CoAssets.

    Allow me to give you the objective view of my findings. All calculations except for Capital Match are according to MAS's standards.

    Rate of returns per annum in 2018, ranked according to weighted average returns)

    1. Minterest: 3.5-24% (Weighted ave: 12.95%)
    2. CoAssets: 9-10% (Weighted Ave: 9.91%)
    3. Moolahsense 5.90%-16.82% (Weighted Ave: 9.9%)
    4. Funding Societies: 6.51-17.79% (Weighted Ave: 9.32%)
    5. SeedIn: 7-20% (Weighted Ave: 8.33%)
    6. Capital Match: 15-20% APR (Weighted Ave: unknown)

    Default rates (measured as non-performing loan rate beyond 30days) in 2018, ranked in descending order

    1. Moolahsense: 14.82%
    2. Minterest: 0.59%
    3. Funding Societies: 0.47%
    4. SeedIn: 0.32%
    5. Capital Match: 0.20%
    6. CoAssets: 0.00%

    *Note that stats are according to internal standards and not MAS's criteria. Even after 90 days, Capital Match does not classify it as a default, unless the company is in the windup, has undergoing lawsuits, or the director(s) declare bankruptcy. Furthermore, Capital Match does not have an updated statistic based on 2018; thus this internally calculated rate is for 2017.

    In summary, the services these platforms provide are similar. All these platforms provide opportunities for retail investors to invest in a variety of projects. The difference is that CoAssets is the only listed online funding platform which means that they're obliged to give transparent performance updates twice a year. Their rate of returns, default rates and profits are under the scrutiny of the Australian exchange and the public, bare for all to see. As for the rest, the data provided above was based on the information provided on their website. Another factor to consider is hidden costs like service fees or surcharges within the rate of returns. For CoAssets specifically, the investors get the full interest back. For others, for example, the interest rate may be 20% but they may charge a 1% service fee resulting in an actual return of 19% only. I'm open to discussing any of the mentioned points should someone else's findings be different. I hope this helps.

    References:

    MAS guidelines:

    http://www.mas.gov.sg//media/MAS/Regulations%20and%20Financial%20Stability/Regulations%20Guidance%20and%20Licensing/Securities%20Futures%20and%20Fund%20Management/Regulations%20Guidance%20and%20Licensing/Circulars/CMI%2027%202018%20Controls%20and%20Disclosures%20to%20be%20Implemented%20by%20Licensed%20Securities%20Based%20Crowdfunding%20Operators.pdf

    Moolahsense: https://www.moolahsense.com/statistics/

    Minterest: https://www.minterest.sg/statistics

    Funding Societies:https://fundingsocieties.com/progress/singapore

    SeedIn: https://sg.seedin.tech/statistics

    CoAssets: https://coassets.com/asx/about/

    Capital Match: https://lending.capital-match.com/statistics.html

    Comments (0)
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  • Lum Jun Rong
    Lum Jun Rong
    Level 2. Rookie
    Answered on 16 Apr 2019

    10.43% over the last 16months

    Participated in around 100 loans, no defaults so far.

    I find the mobile app pretty user friendly. Auto investment function really streamlines the whole process. Although, I haven’t gotten around to withdrawing my principle sum haha... not sure if anyone has faced issues cashing out?

    Comments (3)
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    • Kenneth Lou
      Oh thanks Alex for sharing your experience :) Was wondering the same thing. haha
      17 Apr 2019
    • Alex Chua Cheng En
      I played around with the functions. The auto invest function, I still don't get how to maximise this function. Really hard for me to put myself in the maximised cap of the loan issued. Keep getting the minimum issued. Hope a kind soul could advice. Otherwise, I just have to wait for myself to have a higher capital
      17 Apr 2019
  • Kenneth Lou
    Kenneth Lou, Co-founder at Seedly
    Level 8. Wizard
    Answered on 16 Apr 2019

    FUNDING SOCIETIES P2P Lending

    UPDATE April 2019:

    12.5% Annualised Performance over a period of 1.5 years so far!

    0% default rate so far with a total of 84 investments done through the auto-invest feature.

    You can read more reviews here:

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  • Justin Kieran Ong
    Justin Kieran Ong
    Level 3. Wonderkid
    Answered on 17 Apr 2019

    I have an anualized performance of 12.5% over 3-4 months on funding societies.

    Participated in 12 loans with no defaults though 1 has only been partially payed, may become default if they do not pay by the end of the month.

    I generally agree with the others that the app and auto-invest are convinient to use. If the auto-invest invests more than you'd like, you can always contact them to lower your amount.

    Comments (0)
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  • Isaac Chan
    Isaac Chan, Business at NUS
    Top Contributor

    Top Contributor (Apr)

    Level 7. Grand Master
    Answered on 16 Apr 2019

    My current portfolio for Funding Societies is around 12% as well. I turn on the auto-invest function, and invest minimally in all investment products that are availible. This allows me to spread my default risk out, and not have too much of my capital in deals that have higher risks, albeit higher rewards.

    So far, I don't have any defaults on payments as well, but I do have payments that came in late.

    Comments (0)
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  • Gin
    Gin
    Level 1. Freshie
    Answered on 17 Apr 2019

    Moolah sense - I've only tried 2 loans there. one is fully paid for (and cashed out). the other defaulted.

    probably will quit using their service , partly also because there is not a lot of campaigns to loan to to begin with.

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  • Randy See
    Randy See
    Level 2. Rookie
    Answered on 17 Apr 2019

    Have invested in funding society doing good at 12.06% annually.

    No defaults so far. With afew late payment but they added in with late payment interest. So far so good.

    No issue with the platform.

    Not interested in letting them auto select my investment i personally viewed the facts sheet myself and invest it.

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  • HC Tang
    HC Tang, Financial Enthusiast, Budgeting at The Society
    Level 8. Wizard
    Answered on 17 Apr 2019

    Updated April 2019:

    10.86% annualized performance. No default at all out of 121 loans. So far so good 👍

    More detail review at:

    https://seedly.sg/reviews/p2p-lending/funding-societies?rid=12

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