As I made a promise to myself that 2018 will be the year of starting my investment and saving journey, I decided to research different platforms and based on blogger reviews and their experience to try few different ones.
Being Bulgarian I always like to read what happens on the Bulgarian market. I pay my earned income taxes in the country which I call home and currently live in – Malta. But I always keep an eye of what is happening back home. One of the renown national online financial magazines had an article called “Alternative investments”
That caught my attention of a Rebel, who seeks always the roads less travelled, and that is how I got to know about two platforms:
Klear and Iuvo-group. Today’s topic is about my experience so far with Iuvo-group
First things first – what is Iuvo?
Iuvo is a p2p platform, which allows its users to invest in loans, granted from Originators. These are non-bank financial institutions – Easy Credit, Viva Credit, iCredit, BBG , Fast Finance). Investors can make a motivational profit, and the Originators benefit by the extra funds to help them expand their business.
After the loan is granted by the Originator, it is uploaded on iuvo, where the Investors can see it and choose to invest in it. The Investor receives their profit from the principal with interest after the instalment is paid off.
In case the Borrower stops paying the loan, the buy-back guarantee activates immediately and the Investor gets their investment back.
Now having the description out of the way, let’s go back to my experience.
After paying all my loans, putting money in the emergency account and calculating my monthly budget I was left with 20 eur to invest :))) Yes that is right – 20 eur. Setting up the account was a breeze! There is a basic set of documents which you need to send to prove your identity and all you need to do is put funds in your account. So I put the colossal sum of 20 eur, and in a day I received an email that I can start investing
What really made my experience smooth was that I received an email from a member of the Iuvo team. She offered me a one-hour consultation on the phone to guide me through the manual and automatic investment. Then I asked her all the questions I have jotted from my research. She advised me to increase my investment as soon as possible to 500 eur to be able to have a diversified portfolio. Thanks to her guidance, I made sure that in the next two months I increased my investment to 500 eur
What are the benefits of Iuvo
- 60 days buyback guarantee, which I find really good. Some credits failed and I got my investment back and reinvested. May 2019 update- there is a 30 eur Buyback option.
- The credit originators have long experience on the market, Iuvo as such is only a platform which lists their credits
- It is really set and forget type of investment. I open my daily performance mails only for the sheer joy of seeing my little cents work hard while I sleep
- At the time I write this post there are 19081 credits to choose from. Therefore there is a great variety of investment options
Here is a screenshot of the Dashboards of my portfolio up to this date
Defaulted credit lines
I have to say that there is a bigger amount of defaulted credit lines in my portfolio, comparing to other platforms, but due to the buyback guaranty (which now you can select to be 30 days), there is a very good ROI. One has to have in mind that I run 2 auto-invest wallets which are high-risk customers. That explains my expected annual return of 14,37% (which is incredible for the platform) and the bigger amount of defaults. Had I had a more balanced portfolio, would have been a different story. My Iuvo- group investment is my highest earner for the time being. All my credit lines are with an interest between 10 and 15%, which means of course, that the lendees are within a higher risk profile
From August 2018 till August 2019 my portfolio has earned me 64.79 eur. And we need to have in mind that it has had small increments of investments. My aim is till the end of 2019 to increase that portfolio to 1000 eur.
A bonus program Tell-A-Friend
At the time I am writing this article there is a Tell-A-Friend incentive with which each side can receive up to 90 eur to be invested. In order to participate:
– Drop me an email with your Name and Surname, so I can send you the invitation. Write to fromflawtoflow [at] gmail [dot] com .
– Register from the invitation e-mail you will receive
– invest 1000 eur. Iuvo-group are aware that people wish first to dip their toes before investing bigger amounts, so it can be done in the span of two months.
My gratitude goes to Daniela! She made my start at Iuvo an easy one, and has been always there if I have extra questions. We keep on communication and her bits of advice are always valuable.