P2P lending France. Lending money all over the world, in general, is the primary niche that banks benefit. Therefore, when using peer to peer investment platforms, you eliminate banks from the equation. This enables you to earn best rates for peer to peer lending than other instruments. You also gain the best p2p lending rateswithout a higher risk.
Peer to peer lending companies operates with lower overhead than banking systems. The services are also cheaply. This benefit is mainly attributed to the fact that the peer to peer lending business is carried out online.
For an investor with a high proclivity for success, choosing the best Peer to Peer lending service is essential. There are various peer to peer lending companies in the world. Let’s look at a leading P2P lending platform from France – October.
October’s mission is to empower businesses to thrive by simplifying and democratizing their funding. October was born in France at the end of 2014, under the name Lendix, thanks to a new regulation opening up the banking monopoly. Today October operate as a pan-European lending platform with offices in France, Spain, Italy and the Netherlands.
Founded in 2014, October has loaned over €264 million to date and paid out over €15 million in interest payments to investors. To date the average October investor has enjoyed a 5.81% return.
October caught my attention in the end of 2018. Some time ago I have subscribed to their newsletters, so have been getting constant updates all the time. Finally, they converted me to an investor. To register and prove your Identity takes only few minutes. I have to emphasize that their user interface is really simple and easy to use. One of the best designs I have ever seen (once exploring different P2P platforms. It’s is not crowded by a lot of unnecessary info. To understand how to use platform takes maximum 5 minutes. In order to deposit money you must verify your identity and for that a mobile phone number is needed. However, mobile numbers from many countries is not supported. So, you will need to write to their support to add number manually (do not understand why it is done in such a way). After that you are ready to confirm your phone.
You can start to invest in businesses (give loans) with as little as 20 eur. Instead of checking every day if new investment options have been presented you can use AutoInvest tool that will do the hard work for you.
The team looks very strong (already more than 75 members) with a decent experience in finance. Track record is already there and the most important thing is that default ratio is only 2.34%. Some of the P2P platforms have 15% or even higher default ratio (in most cases short term loans operators), so it means that Octoberhas a decent scoring model in place (and they already lent more than 264M eur).
More news about P2P lending in France at Welltrado