PeerBerry is one of the most popular P2P lending sites in Europe. Since 2017 more than 23,000 users have earned over €3M in interest. Investors can invest in short-term loans, protected by a buyback guarantee, with interest up to 12.9% per year. Is PeerBerry a good fit for you? Read our PeerBerry review to find out!
- 22/7/2020 - PeerBerry made a profit of €280.000 in 2019
- 2/07/2020 - 12 lenders submitted their financial reports for 2019 (most of them are audited)
PeerBerry in Numbers
PeerBerry has been on the market for a few years now, so we’ve been able to have a good look at their statistics and evaluate their performance.
Check the table below to see whether PeerBerry is the right fit for you.
|Investor's earnings:||+ €2.63 M|
|Total loan value:||+ €262 M|
|Amount of investors:||+ 24,000|
|Loss of investor's money:||0%|
|Average portfolio size:||€1,500|
|Latest financial report:|
Watch our comments about PeerBerry's latest financial report:
So, what does this table tell us?
PeerBerry is a long way off being the same size as the competing giants Mintos or Bondora. Their investor base is, however, growing rapidly. PeerBerry acquires most of the investors through word of mouth.
PeerBerry has recently created a dedicated page for their statistics.
Investors have access to graphs that show the volume of funded loans every month as well as the interest paid to investors.
Also, notice that up to the creation of this PeerBerry review, there are no records of investors having lost their money on PeerBerry.
PeerBerry Referral Code
Before we get into the in-depth PeerBerry review, let’s have a look at some of the bonuses that you, as an investor, can benefit from.
Many P2P lending platforms you sign-up bonuses and referral codes. This is also the case with PeerBerry. This P2P lending platform rewards not only new investors but also their loyal investors.
PeerBerry Bonus for New Investors
Use our referral code for PeerBerry and get a 0.5% PeerBerry bonus for all your investments during the first three months after registration. Note that you need to invest money in order to receive your PeerBerry bonus. This offer is only valid if you sign up on PeerBerry with our referral link.
The referral code will be automatically added to your account after your registration is completed. You don't need to type in any special promo code during the sign-up process.
PeerBerry Loyalty Bonus
- There are three different levels of loyalty bonuses:
- Silver: This is for portfolios over €10,000 and you’ll receive a 0.5% bonus
- Gold: This is for portfolios over €25,000 and you’ll get a 0.75% bonus
- Platinum: This is for portfolios over €40,000 and you’ll get a 1% bonus
N.B: The bonus will only be added to your active investments if your portfolio size meets the bonus criteria.
PeerBerry is one of our absolute favorite P2P lending platforms and this is primarily because you can sign up on PeerBerry from anywhere in the world.
Even if you come from the UK or the U.S. you can sign up and invest on PeerBerry and earn on average around 12% of interest per year.
There are, however, some requirements you must fit in order to invest on this platform.
- Be over 18 years old
- Have a European bank account in your name
Even though you can deposit your money in any currency, we suggest transfering your funds in Euros to avoid potential currency exchange fees.
No EUR bank account? No problem
Transfering money to your PeerBerry won't take more than two business days.
Risk and Return
As mentioned earlier, PeerBerry is an amazing P2P lending platform for short-term investors.
As you might know, short-term investments are often perceived as riskier as opposed to long-term investments. While this might be the case with stock trading and cryptocurrencies, this rule isn’t necessarily true with P2P lending.With moderate risk, you can earn up to 13% of returns every year.
Most P2P lending platforms don’t advertise this aspect of P2P lending since those loans offer a buyback guarantee.
PeerBerry's Buyback Guarantee
PeerBerry is also one of the P2P lending platforms that offers a buyback guarantee for loans that are delayed by more than 60 days.
In this scenario, the originator of the loan that you’ve invested in would buy back the claim against the borrower from you. This greatly lowers the risk associated with this P2P platform and it means you don’t have to deal with debt collection.
This means that in case the borrower is late with its payments the lending company will buy back your investments so you don't lose anything.
The best part about PeerBerry’s buyback guarantee is that the loan originator also pays back the interest on the delayed loan. This is great because your money is still earning you interest even though the borrower is late with the payments.
This isn’t the case with many loan originators on Mintos, most of them don’t pay out the interest for delayed payments.
PeerBerry offers an additional guarantee by the parent companies of the loan originators. Most of the originators offer loans in different countries, although it’s worth noting that they are owned by two large investment groups.
While the loan originators work as independent entities, the additional guarantee claims that, in case the loan originator would not be able to cover the buyback guarantee, the parent company will step in and repurchase your claims.
As mentioned above, PeerBerry collaborates with two large finance groups Gofingo and Aventus Group as well as a small lender Lithome. In total you can invest in loans from 23 loan originators.
PeerBerry recently added more information about every loan originator. You have access to the size of their loan portfolio, the total amount of funded loans as well as information about the buyback guarantee and interest.
Is PeerBerry Safe?
All of our P2P lending reviews are based on our personal experience or extensive research. We like to look beyond the information that you can find on the platform’s website, which sets us apart from many other comparison websites.
PeerBerry is no exception here. We have looked into the management behind the platform, their financial reports and read all the terms and conditions.
Who Leads The Platform?
Arunas Lekavicius is the CEO of PeerBerry who is also responsible for PeerBerry's business decisions. Before Arunas joined PeerBerry he was the Head of Leasing at the Lithuanian lender 4finance.
PeerBerry has recently updated their About Us page. Their team consists of 9 employees.
Who Is The Owner Of The Platform?
PeerBerry is owned by two private investors Genrik Baitiul and Ivan Butov.
- Genrik is also the CEO of the IT company AIS Consulting.
- Ivan works at the TELEMED Medical Ultrasound Systems as a Quality inspector.
Both shareholders are passive investors and they do not take any positions at PeerBerry nor participate in PeerBerry management decisions.
Are There Any Suspicious Terms and Conditions?
Clause 2.3 - Currency Risk
PeerBerry doesn't offer a multi-currency solution. All of the investments are made in Euro.
Even though the loan originator's loans are often originated in other currencies, you as an investor are not exposed to any currency risk.
Clause 4.6 - Security of Your Funds
All of your funds are stored on a separate bank account of SIA AV Marketplace - which is the operator of PeerBerry.com.
The separation of funds is a standard procedure in the P2P lending industry. We would certainly appreciate if PeerBerry would introduce individual IBAN accounts for investors to increase the safety of their funds.
Clause 7.7 - Liability
As with every P2P investment, the P2P lending platform isn't reliable for any losses if the borrower doesn't fulfill its obligations.
In case the borrower is late with its payment for more than 60 days, the loan originator is responsible to repurchase the claim from you and return the outstanding interest and loan principal to your account.
Do Investors Have Access To Individual Assignment Agreements?
Investors can view individual assignment agreements with more details about their claims under "My Investments".
Simply click on the PDF icon next to the LOAN ID to download the file.
Potential Red Flags
Currently we have no knowledge about potential red flags.
What's Our Opinion About PeerBerry?
The result of our due diligence is positive. We haven't spotted any suspicions. PeerBerry's communication, as well as its transparency, has improved significantly.
Investing and withdrawing funds has always worked without any delays which is also the reason why PeerBerry remains one of our favorite P2P lending platforms.
We have joined PeerBerry more than two years ago and our active portfolio is currently above €10,000.
Watch the latest highlights from our discussion with the CFO of Aventus Group - Slawomir Swietochowski to learn more about how the company protects your investments.
Now let's have a look at some of the functionalities of PeerBerry.
PeerBerry is made for a multitude of P2P investors, so, whether you’re just starting out with P2P lending or you’re looking for new platforms to help you lower the risk, we’d recommend you seriously consider PeerBerry.
PeerBerry’s dashboard is very intuitive and you can reach all the important sections of the website within just a few clicks.
You can view your investments, export transactions for your tax statements and automate your investment strategy with their Auto Invest feature.
PeerBerry's Auto Invest
Many P2P platforms allow you to automate your investments. While Bondora and Mintos are a bit more innovative in this area, PeerBerry’s Auto Invest tool is good enough to meet investors’ needs.
This tool is pretty simple to navigate. You can set it up in less than two minutes.
You can set up important variables such as the portfolio size, maximum investment per loan, interest rate, loan period, loan status, countries and loan originators. There is also an option to reinvest all your returns.
We suggest to not exclude any loan originators at the moment as the availability of loan volumes decreased significantly in May 2020 as lending companies were able to finance the loan requests from their own pockets. Restricting your Auto Invest settings will lead to uninvested money on your account.
In case your PeerBerry Auto Invest isn't working, wait for 24 hours until you contact the support. PeerBerry's Auto Invest runs once a day.
How Fast Can You Withdraw Your Investments?
While PeerBerry is trying to offer more loan types to help diversify investors’ P2P portfolios, it’s mostly used for short-term loans. When investing in short-term loans, investors benefit from the improved liquidity that comes alongside them.
This proved to be also very valuable during March 2020, when many investors started withdrawing their funds due to the panic caused by the coronavirus.
There were no delayed loans on PeerBerry and all the funds were returned to the investors after the end of the loan term, which is typically within 30 days.
Too good to be true? We hope not.
If you are looking for instant withdrawals, you won't find it on PeerBerry. There is currently no secondary market. Nevertheless we don't think it's a necessity in PeerBerry's case as most of the loans are short-term.
Having a dedicated support team that will answer all of your questions regarding their P2P lending platform is, in our opinion, very important.
At the end of the day, your money is managed by the platform and therefore you need to be able to trust them to keep your funds protected.
We’ve always found PeerBerry’s support to be very responsive.
The best way to get in touch with the support team is to send them an email to firstname.lastname@example.org.
Most of our requests have been answered within one day, which is not something we can say about the customer support at Crowdestor.
It’s always good practice to get in touch with the customer support at any P2P lending platform and test it before signing up.
You want to make sure the platform can handle your requests before you even become an investor.
When compared with even the biggest European P2P platforms like Bondora, the support Mintos offers is truly exceptional.
PeerBerry Review Summary
PeerBerry is without a doubt one of the best P2P lending platforms backed by two large financial groups with a long track record and strong financial reports. PeerBerry is a suitable alternative to even bigger players such as Mintos and Bondora. Since we have joined the platform in 2018 our experience with PeerBerry has been very positive.
Here are the main takeaways from our PeerBerry review:
- Exceptional liquidity - you can exit your investments within 30 days for free
- Responsive support that answers all of your questions
- High availability of loans - we have never experienced any cash drag
- Higher interest rates - compared to many similar platform with short-term loans
Not convinced yet? Well, what about we tell you that you can get a 0.5% cashback bonus? All of our readers will get a bonus calculated from the average investment amount during the first 90 days from registration.
Ready to let your money work for you?
What is the buyback guarantee?
The buyback guarantee on PeerBerry is being activated after 60 days of delayed payments. The loan originator buys back your claim against the borrower with all the accrued interest.
How big is the PeerBerry bonus?
You can earn a cashback bonus of up to 1% when investing on PeerBerry. In order to claim your bonus, you need to meet certain criteria which you'll find in the promo section of our PeerBerry review.
Is P2P lending safe?
Investing in P2P loans is not risk-free on any lending platform. There are, however, tools that help you protect your investment. PeerBerry is doing it’s best to protect and safeguard your money.
What is the minimum investment amount on PeerBerry?
In order to invest on PeerBerry, you need to invest at least €10 in one loan. It is recommended to achieve a diversification of 1%. You can do so by investing €1,000.
|Company:||AV Marketplace, SIA|
|Address:||Udens iela 12-118, LV-1007 Riga, Latvia|
|Phone:||+370 61 355 529|
|Opening Hours:||Weekdays from 8AM to 5PM|
|Social Media:||, ,|