After experiencing a large portion of my cash not invested on the Swaper platform I decided to jump ship. Because of the cash drag, I pulled the non-invested funds out of Swaper and decided give Grupeer a try. This is my fourth Peer-to-Peer investing platform. Grupeer was recommended on a personal finance thread that I follow. It contrasted to Swaper in the fact that it had loans available for manual investment.

FAQ and Fees

One thing that struck me when I was setting up my account was the many inaccurate English translations on the platform. Even the FAQ sometimes read like it’s not a native English speaker writing it. It was slightly worrying for a newbie. But despite this, the FAQ is comprehensive and covers all of the questions you might have. Including “are there fees?”. Nope.

Depositing

Setting up an account is standard with proof of ID and your national tax number (PPS in Ireland). I deposited €2,000 from Swaper to Grupeer and got started. Investing was straight forward and I got started with 8 business loan investments of €250 each.

Interest Rates

The average interest rate I am getting with these eight investments is 14.625% which is far better than the average 9% that I am currently getting with Mintos. Admittedly though I am still at a stage where I am trying to raise my awareness of the platforms available and understand how they work. I am not yet at the point of making super shrewd decisions that look at the granular details of the ROI percentages. I expect to get there soon though. And joining Grupeer has certain helped to highlight that to me.