Iuvo Group Review
Iuvo Group is a Bulgarian P2P lending marketplace registered in Estonia. The P2P lending site lists loans from 11 loan originators mainly from Bulgaria, Romania, Poland, and Russia. You can expect annual returns of 9.2% by investing in loans with a duration between 3 and 12 months. Ready to start earning money? Ready our Iuvo Group review first.
Iuvo Group News
- 15/09/2020 Fast Finance increased its skin in the game to 40% until the end of October 2020
- 07/08/2020 Iuvo suspended the polish lender CbC
Iuvo Group in Numbers
Before you sign up to Iuvo Group it’s good practice to have a look at their statistics to get an idea about the platform’s past performance. It will also help you to get a sense of the transparency of the P2P lending site.
|Iuvo Group Statistics|
|Investor's earnings:||+ €2.6 M|
|Total loan value:||€131 M|
|Amount of investors:||+ 21,000|
|Loss of investor's money:||0%|
|Average portfolio size:||€3,125|
|Latest financial report:|
Iuvo Group is a Bulgarian platform, which is registered in Estonia as the regulations for P2P lending operators in Estonia is much less strict compared to other European countries.
The P2P marketplace was founded in 2016 and since then it has attracted more than 19,800 investors from all over the world. The P2P lending site helped fund loans worth €121 M.
That’s an impressive track record.
Iuvo Group was profitable in 2018 as you can see from the attached financial report. Iuvo’s reports are audited by Ernst & Young. The financial statements for 2019 aren’t available yet.
The P2P platform was willing to share additional information about the average portfolio size as well as investors’ earnings to date.
You can only find this data here at P2P Empire.
Iuvo Group Promo Code
If you are looking to get an extra cashback bonus by signing up on Iuvo Group, you won’t be happy as there are currently no bonuses for new investors. In case Iuvo Group will offer a special promo code in the future, we will update our Iuvo Group review accordingly.
In the meantime, you can have a look at the current cashback bonus offers from other P2P lending sites.
New User Requirements
You can sign up and invest on Iuvo Group from all over the world.
The only requirements are:
- Age 18 or older
- Bank account in your name within the European Union
If you don’t have a bank account, don’t worry. You can open a free bank account with the digital bank N26 or a free Transferwise account.
No EUR bank account? No problem
You can also use money transfer services such as Currencyfair, Currencycloud, Easychange, Trustly, Paysera, or Revolut.
The cheapest way is to use the classic bank transfer. You can transfer money in three currencies Bulgarian Lev, Euro, or Romanian Leu.
We have transferred funds in EUR to their Paysera account in Lithuania and the money arrived within one business day.
Risk and Return
Investing on the P2P marketplace operated by the Iuvo Group comes with certain risks.
All the loans listed on Iuvo Group are protected by the 60-day buyback guarantee, which means that the loan originator (lending company) will repurchase your investments if the borrower is late with its payments for more than 60 days.
You will also receive a “late fee” for delayed payments.
Collateral as a Security
Some loan originators on Iuvo Group offer investments in secured loans. Those loans are typically secured by a car or mortgage. The amount of secured loans on Iuvo Group is rather limited and it’s always subject to availability.
As we create our Iuvo Group review, there are only six loans that are backed by collateral such as real estate, car, or company’s assets. You can see for yourself by navigating to the primary market and choosing the “Collateral Type” filter.
More than 99% of loans listed on Iuvo Group are unsecured personal loans, in which 76% of the loans are from Easy Credit.
|Loan Originator||Available Loans (amount)||Available Loans (%)|
This data was retrieved at the end of May 2020.
Easy Credit is an established loan originator from Bulgaria. The company was founded in 2005 and currently, it employs more than 4,000 employees. In 2018 Easy Credit made €8.2M in profits. Easy Credit is regulated by the Bulgarian National Bank. You can have a look at the audited financial report from Easy Credit here.
As you will likely invest the majority of your investment on Iuvo Group in Easy Credit loans, you should also know that the loan originator has 30% skin in the game, meaning that the company funds at least 30% of the loan from their own resources which increases the safety of your investments.
This is the case for any loan originator listed on Iuvo Group.
By investing in Easy Credit loans you can expect an annual interest between 5% and 12% which is low compared to competitors such as Mintos, PeerBerry, or Viventor.
Keep reading to learn more about Iuvo Group.
Is Iuvo Group Safe?
When investing your money, you want to make sure that the platform won’t run away with it, right?
If so, you want to have a look at the team behind the platform as well as on their terms and conditions. We have done the work for you and here is the result from our due diligence of Iuvo Group.
Who Leads The Team?
Iuvo Group is led by Ivaylo Ivanov, an inspiring leader with previous experience in the fintech space. Ivaylo worked as a senior auditor at Ernst & Young before he joined Iuvo Group in the role of aCEO. Ivaylo has also been awarded by Forbes for his contribution to the financial service space in Bulgaria.
Who Owns The Platform?
Easy Asset Management operates several financial services in Bulgaria, including brands like Easy Credit, iCredit, and Viva Credit which are all loan originators on Iuvo Group.
Are There Any Suspicious Terms And Conditions?
There are a few clauses you should review before signing up for a P2P lending site. Here is a short overview of the most important terms and conditions:
Clause 3.4 - Storage of Funds
In section 3.4 of Iuvo Group’s terms and conditions, you will learn that your funds are stored separately from its own funds.
This is a common practice of P2P lending sites registered in Estonia. A red flag would be if the information about the storage of the funds is not mentioned.
Clause 3.9 - Withdrawals Within 5 Days
As soon as you request a withdrawal of your positive balance in your investment account, Iuvo Group will transfer the money within five business days.
Clause 5.7 - Liability
You should know that the P2P lending platform will not refund you in case the borrower fails to repay its debt. While there is a buyback guarantee, it's not provided by the platform but its loan originators.
Meaning in a situation where the loan originator isn’t able to cover the buyback guarantee, you will lose your investments if the borrower fails to repay its debt.
Clause 15.5 - Amendments
If you have read our previous P2P lending reviews, you know that we don’t like it when platforms can change their terms and conditions as they wish.
In the case of Iuvo Group, the platform may announce any changes to its terms and conditions at its own discretion, meaning they don’t have to give the user notice.
Do Investors Have Access To Individual Loan Agreements?
Unlike on Fast Invest, you have access to individual loan agreements. Simply navigate to “My investments” in the menu on the left and click on the document for the particular investment (claim).
Potential Red Flags
- Currently we aren't aware of any red flags.
What's Our Opinion About Iuvo Group?
There is definitely room for improvement.
In our opinion, Iuvo Group is a legitimate P2P marketplace.
The platform is very transparent when it comes to sharing information about their loan originators, such as financial reports or regular performance updates.
The platforms’ terms and conditions are comprehensive and we haven’t spotted any red flags.
The CEO has previous relevant work experience and has been leading the platform since its launch.
The platform is owned and operated by a large financial group that is very experienced in the Bulgarian lending market. The group owns several lending companies, debt collection firms, IT companies, and the P2P marketplace which provides part of the funding.
All the loan originators on Iuvo Group also provide 30% Skin in the Game. That’s something you won’t find on any other P2P marketplaces including Mintos, PeerBerry, or Viventor.
While the average interest on Iuvo Group is significantly lower, this also reflects the safety of your investments.
We are pleased with our Iuvo Group review, which is why we have invested on the P2P marketplace ourselves.
How User-Friendly is Iuvo Group?
Are you a newbie? Don’t worry. Iuvo Group marketplace is straightforward to use.
You can count on features such as the portfolio builder, secondary market, cashflow forecast and income statement reports.
On Iuvo, you have access to the:
- Primary Market, where you can invest in loans manually or have a look at the currently available loans that match your criteria
- Auto Invest that allows you to automate your investments based on your predefined criteria
- Secondary Market that allows you to buy and sell your investments from or to other investors
- My Investment section that gives you an overview of your currently active investments
- Account statement that gives you the data that is required for your annual tax reports
- Currency exchange that allows you to exchange your currency and invest in Bulgarian lev
Most of Iuvo Group’s features are very intuitive. If you haven’t invested on any other P2P lending platform before, it will take you some time to get familiar with the tools.
Iuvo’s auto-invest allows you to define many loan variables. Unfortunately, it doesn’t tell you how many loans match your criteria, meaning if your selection is too strict, you might suffer from cash drag (no loans will match your criteria and your funds remain uninvested which is bad).
To avoid this situation, use the filter options within the primary market to get an idea of how well you can spread your investments across different loan originators.
As we have mentioned at the beginning of our Iuvo Group review, the majority of loans on this platform come from Easy Credit meaning you won’t be able to diversify across a higher amount of lending companies.
At the moment we only invest a small amount in loans from Easy Credit. We defined the following settings:
- Only EUR currency
- Portfolio size max.: €1,000
- Max. investment amount per loan: €10
- Minimum funds in the account: €0
- Loan originator: Easy Credit
Easy Credit is by far the most dominant lending company on Iuvo Group. Since we already invested in other loan originators on marketplaces such as Viventor or Mintos, we don’t need to increase our exposure to those lending companies on Iuvo Group.
We also didn’t define any other criteria as we don’t want to limit our selection and potentially suffer from cash drag (uninvested funds).
We keep factors such as the buyback guarantee, skin in the game, and profitability of the loan originator in mind when choosing our Auto Invest settings.
Nearly 40% of all available loans on the Iuvo platform currently are not in Euros but other currencies such as the Bulgarian lev or Russian ruble.
Iuvo gives you the option to exchange your Euros into other currencies, you should know, however, that this increases your currency risk as well.
We at P2P Empire don’t invest in other currencies as this makes the returns of our investments unpredictable as we expose our investments to currency risk.
How Fast Can You Withdraw Your Money?
80% of Iuvo Group’s loans have a loan term between 3 and 12 months, meaning the only way to withdraw your funds before the maturity of the loan is to sell it on the secondary market.
The ability to sell your investments on the secondary market always depends on the current market situation.
When a higher number of investors are trying to exit their investments, the chances that you will be able to sell your loans on the secondary market without a discount are low.
The average discount for sell-offs on the secondary market in April was 4.42%.
In order to sell your investments fast, you will need to offer a discount, which will lower your returns and in some cases, you might even lose money.
It’s up to you to decide whether to sell your investments or not. We recommend only doing so when you can foresee that the loan originator will go out of business. This is usually hard to predict as you don’t have access to the company’s business operations.
You should also know that Iuvo Group charges a 1% fee from your investments that you sell on the secondary market.
Iuvo Group’s support is very responsive. We reached out to Iuvo Group and the support got back to us within one day with all the requested information. You can either send them an email or use their Chat function and they will get back to you.
Iuvo Group Review Summary
Iuvo Group is an interesting alternative if you are looking to invest your money in profitable loan originators. The 30% Skin in the Game by the lending companies is also something that adds additional security to your portfolio. Our experience with Iuvo Group has been only positive so far.
Key Takeaways from our Iuvo Group review:
- Transparent P2P marketplace
- Interesting investment opportunities in loans from Easy Credit, iCredit, VivaCredit
- Limited diversification due to the high exposure of Easy Credit loans
- Intuitive and easy-to-use platform
While Iuvo Group isn’t going to generate the highest yields, we believe that the platform is able to protect our investments which is why we have also joined Iuvo Group and invested ourselves.
Ready to earn money?
Does Iuvo Group provide an Auto Invest?
Iuvo Group does provide an Auto Invest that will help you automate your investment strategy. You should first check the availability of loans that match your criteria on the primary market before setting up your Auto Invest.
Is there a secondary market on Iuvo Group?
Iuvo Group allows you to buy and sell your investments on the secondary market. Note that sellers are being charged a 1% fee for transactions on the secondary market.
Does Iuvo Group have a buyback guarantee?
All your investments on Iuvo Group are backed by a 60-day buyback guarantee. The loan originator will repurchase your investments if the borrower is delayed with its payments for more than 60 days.
Is there a cashback bonus for new investors?
Iuvo Group doesn’t currently offer any cashback bonuses or promo codes to new or existing investors.
|Company:||IUVO GROUP OŰ|
|Address:||Narva mnt 5, Tallinn City, Harju county, 10117, Republic of Estonia|
|Phone:||+ 359 2 493 0108|
|Opening Hours:||Weekdays from 9AM to 6PM|
|Social Media:||, ,|