Fellow Finance review shows that it is the biggest Finnish peer-to-peer lending marketplace, focused on the consumer and business loans. Company was founded in 2013 and over 11880 investors have already invested more than €406 million in loans.
Fellow Finance offers the most advanced marketplace lending platform in Europe. Both individuals and business can find funding for their needs in their platform and investors receive interest for their money lent. This makes Fellow Finance the only platform in eurozone which connects individuals, businesses and investors. THeir growth has been rapid since their launch in 2013 and today they are the biggest marketplace lending platform in Northern Europe.

Fellow Finance is a Finnish fintech company founded in 2013 and started operating in 2014. THey have grown to be international crowdfunding company and arelisted on the Nasdaq First North Finland marketplace. Fellow Finance Plc is an Authorized Payment Institution supervised by the Finnish Financial Supervisory Authority of Finland.

Key facts about Fellow Finance

Estimated annual returns Up to 10%
Launched: 2013
Autoinvest: Yes
Loan security: No
Provision fund: No
Buyback guarantees: No
Registered investors: 11888 in March 2019
Minimal investment: € 1
Time to become invested: not specified
Time needed managing: Low
Regulation: Regulated by the Finnish Financial Supervision Authority
Country of operation: Finland
Defaulted loans: N/A
Borrowers verification: By the loan originators
Accepted currencies: Euro
Accepts investors from: EU

Fellow Finance Review: Pros and Cons

PROS

– Investment policy can be tailored to purchase whole loans based on pre-defined criteria or invest into fractional loans across the market
– International business architecture
– Fast ID verification and time to become money invested (in my example one day)
– Finnich FSA regulated platform
– Big traction of more than 406M eur lent
– Had IPO

CONS

– No Buyback guarantee

Competitors:

Mintos, Twino, Savy, Neofinance, RoboCash, Viainvest

Fellow Finance review: What I have experienced so far

Firstly, some words about opening account at Fellow Finance. For me it was easy process, all I needed was to click Register and do full registration). And that’s it. Later you have to upload your ID card copy and transfer funds. Add funds to Fellow Finance account also is enough easy as platform has two alternative ways to transfer funds: you can choose to make a deposit with Trustly or to make bank transfer.

Secondly, some facts about my experience in using Fellow Finance investment opportunities. Fellow Finance provides opportunity to earn from 7% till 10% annual interest rates (if you will be able to find loans that will not default). There are no BuyBack guarantees, so if the loans that you invest will default after 90 days you have an opportunity to sell those loans to collection agencies. However, you will be able to get between 30 to 50% of the loan value. Often loans go will collateral and personal guarantee, so it gives extra security. If you need liquidity, you can sell your loans with discount on the secondary market. The investments can be done in loans from 5 countries: Finland, Sweden, Denmark, Germany and Poland.

All in all, Fellow Finance has a lot experience in p2p lending industry. They issued more than €406 million in loans, has a big amount of investors and offers to them quite attracting returns. Moreover, the platform has user-friendly and intuitive dashboard. In the other hand, Fellow Finance does not have BuyBack gaurantees, so as investor you can have loans that will default. I really like that the plaftorm is regulated and has more than 5 years of experience in lending. However, interest rates are lower compared to their direct competitors and is not very attractive for P2P investors.

Fellow Finance review is written by Tomas Medeckis