What is Grupeer?
Grupeer is a P2P platform I have been following on the sideline for quite some time now. (Actually, I think it’s more appropriate to call it a P2B platform, as all their loans are to businesses.)
The company was registered in October 2016 and the platform was launched in February 2017. When I found them in September 2017 they only had a small number of investors so I was a bit hesitant to get involved. I chose to put them on the radar and follow them closely for a period of time.
More than 7 months have passed since then. They have grown in size and credibility and proven their existence to the point where I’m ready to invest. More than 1.000 investors have joined at the time of writing. One of my readers often points out that Grupeer is his favorite P2P platform so I’m excited to get started!
Grupeer’s business model is quite similar to Mintos. They are a P2P marketplace where loan originators can offer their pre-funded loans to investors. By doing this, they have more money available to fund new loans so they can leverage their businesses. I won’t go too much into details here, Grupeer has an extensive “How it works” site and a FAQ site that will answer most questions you may have.
Grupeer is planning to release about 2.000.000€ of loans per month in the near future. The current average is approximately 600.000€ per month distributed between 13 different loan originators. More originators will join the platform shortly. No official financial statement has been released yet but you can find more info about their financials here.
Becoming a member is very straight forward. Fill out the required data in the form and your account is created.
To add funds to you account you simply make a SEPA transfer through your bank. All bank account information is available under the “Deposit / Withdraw” -> “Add funds” page. Remember to include your personal investor ID number in the payment details.
It’s quite easy to navigate the site and find the information you need. There’s only 4 headlines in the menu:
- The overview page gives you a clean and simple overview of your Account Balance and Income. From the overview you can also find “Account statement” which gives you a nice overview of all incoming and outgoing transactions and “Income Statement” which is a generated PDF you can use for tax reporting.
- Investments are divided into Loan deals, Development Projects and Secondary Market. The Secondary Market is still a work in progress, it has not been released yet.
- My Investments shows the loan deals / projects you have invested in and, if you have a lot, you can filter them by loan type, interest rate, purchase date or active/inactive.
- Deposit / Withdraw. From this menu you can Add funds, Withdraw or Refer a friend. Grupeer has an attractive referral program as they’re still seeking investors to expand their business. You can earn up to 1.25% of the amount your referrals invest. The money you earn is automatically added to your Grupeer account.
Investing in the first project
Do you just want to get started and care less about each project? If that’s the case then you simply click one of the loan deals that suits you and click “Invest”. All the loans on the platform are secured loans and they all come with the 60 day buyback guarantee.
Grupeer has recently released a few projects that I find quite interesting. Especially the PROMENADA project with a 65% LTV (loan to value) and 12 month loan period has caught my attention. They offer a 14% interest rate, buyback guarantee, and on top of that you get a 1% cash back.
A lot of information about the project is available under “project information”, including a link to the official website and a 14 page PDF presentation.
Once you click the Invest button, you can choose how much you want to invest. The minimum is investment is only 10€.
Press the green “suitcase” to add the investment to a “shopping basket”.
You can go ahead and invest in more projects or go to “check out” to confirm your investment. From the confirmation page you can download the loan PDF agreement with one click if you want to save or print it. This agreement is also available under “My Investments” once you’ve invested.
A payment schedule for future repayments is available under each project. I would have liked a combined repayment schedule for all projects I invest in on the “Overview” page. Hopefully they will add this later on.
Short term loans
If you’re into short term loans, the creditor MONIFY SIA offers several Business Loans with a with a loan term of 1-9 months. 14% interest rate and buyback guarantee also apply here. The businesses vary from heat insulation equipment, wood distributors to construction companies. MONIFY SIA provides a financial analysis of each company directly on the investment page, which is quite handy. See example below.
First impressions / Verdict
The platform feels like a nice mix between Crowdestate and Mintos. You can get 14% interest rate (sometimes even 15%), buyback guarantee and cash back like on Mintos and at the same time you can invest in interesting Real Estate projects like on Crowdestate. I like that combination!
Additionally, the 1% cash back is instantly credited to your account. You don’t have to wait 7 days like on Mintos.
There is no auto-invest option yet, which is quite a shame. However, the support staff just told me that they are planning to add this feature within a few weeks. I’ll look forward to that.
The Grupeer team does a good job answering any questions you might have. Their responses are fast, professional and polite, that’s something I really appreciate. I’m pleased to finally be involved in the Grupeer platform and I’m definitely going to add more funds sooner than later.
Have you invested in Grupeer ? What are your thought about this platform? Please share below!