I've been using FS for about 5 months. After studying the numbers and returns, i've decided that p2p lending is not really suitable in terms of capital gain (but that's different for individuals).
For FS - on average there are 4-6 loans available for you to back every month. As mentioned by other users, as the loans offers attractive returns, there are a lot of retail investors eyeing to be part of the loan package.
Eg of a loan: 100k loan available with 12% returns in 3 months, min & max investment $100. When it is announced at 7pm, 7.10pm the 100k would have been fully backed.
Another con is that, your money would be tied up and there are no liquidity in that. Only way for you to get your money back is when the companies you loaned to make the monthly payment.
I've made a rough calculation on all the loan returns, while the reported interest rates are between 9 - 12%, after taking into consideration of the fees, averaging the time frame, assuming no defaults, the return looks like a 6-8%.
For many, this may be attractive because it is higher than your savings account, but because of its illiquid nature, and higher perceived risk, i think there are other better performing asset classes. Eg: REITs - some reits returned way better returns than 6-8% in 2017, somemore it is liquid with potential upsides in capital gain, or if you have an even higher risk profile, tech stocks did really well in 2017 globally + in Singapore.
So FS is suitable for individuals with a mid level risk profile, but less suitable for individuals with a high risk profile. :)