Envestio review – Flying to Riga to meet the team

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This Envestio review is based entirely on my experiences. Always do your own research.

What is Envestio?

Envestio works in the field of providing bridge financing/equity replacement loans to the owners of investment projects. At the moment, main industries are real estate development, energy production, urban mining, and production of equipment/hardware for crypto-mining.

Envestio started as a private investment fund in 2014 and decided to go public in the end of 2017. A total of 22 projects have been successfully completed. 5 active projects are currently available on the website.

At the time of writing 736 active investors have raised 1.246.273 EUR on the platform.

Is Envestio a scam?

Good question! Investment rule #1 is “Never loose your money”.

Scammers usually shy away from personal contact. So what better way to find out, than flying to Riga and meeting them in person? Let’s see if the people fits the pictures and if the information on the website can be trusted.

Traveling to Riga

On June 28th I boarded a Bombardier CS300 and traveled from Denmark to Riga, Latvia to meet the Envestio team.

I invited my mom to come along because she also invest in different projects and platforms. Short trips like this is a good opportunity to spend some quality time with your loved ones.

As you can see from my savings rate, I don’t spend much money on luxury. However, when I travel I like to spoil myself a bit with a nice meal on the plane. It usually costs 11-16€ per meal, but I enjoy it so much, it’s worth every cent to me.

Even though we are saving up for financial freedom one has to enjoy the present and not only focus on the future.

Appetizer: Smoked salmon with lime, potato pancake and salat. Main course: Oven roasted chicken breast with fried potatoes, bread, mushrooms, cherry tomatoes and sweet peas. Dessert: Dark chocolate cake.

Arriving in Riga

When we arrived in Riga I opened my Taxify app, which is the Baltic version of Uber. I found and used this app when I was visiting Bondora’s office in Tallinn in January 2018. Taxify is a great and cheap way to get around.

A few minutes after plotting our pickup and final destination into the app the driver arrived. The 30 minute from the airport to the hotel ended up costing us 8,50€. In Denmark, it would cost me the same in starting fees, just to enter the taxi.

The hotel

Monika Centrum Hotel was going to be our home for the next 2 days. It’s a nice hotel within walking distance to the “old town” in central Riga.

Evgeniy (I call him Eugene), the COO of Envestio, was so kind to welcome us at the hotel, just to say hi and to tell us about the schedule for the next day. We would meet at 10:00 the next morning in their office about 1 km down the road. After a small office tour, we would go on a day trip to see 3 finished crypto currency mining projects and 3 actual real estate and development projects which are already available for investment on the platform.

When everything was clear, we said good-bye for now and parted. Now we were ready to explore Riga on our own and get some dinner.

Monika Centrum Hotel in Riga, by night

Dining in Riga

When I’m traveling I’m always using TripAdvisor to find good restaurants. I’m searching for restaurants nearby and filter the results by highest rating. I’ve never been disappointed with the experiences, all the restaurants have been absolutely incredible. This was no different!

The highest rated (and probably the most expensive) restaurant is called Vincents. We didn’t go for this one though. From experience, it’s almost impossible to get a table on the highest rated venue with a few hours notice.

The second highest rated restaurant in the area is Milda. I called them and I was able to reserve a table, so we decided to try it out. We ordered a 3 course menu with wine and it was a very pleasant experience.

Restaurant Milda Riga
If you enjoy finer dining, I would definitely recommend traveling to the Baltic countries. The food is delicious and the prices are very affordable.

Team Envestio

The next morning at 10:00 AM we met the Envestio team in their office in Riga. It’s a really nice office space that they acquired 3-4 months ago.

Envestio office Riga
Envestio’s headquarter is based just outside Tallinn in Estonia but they have an office in Riga as well on Elizabetes eila 85.

We spent about half an hour talking and asking questions. Most of my questions had already been addressed in the endless stream of emails I had sent to Eugene in the weeks prior to the meeting. But it was nice to meet them in person and have a little chit-chat.

Envestio review
From left: My mom (Investor), Evgeniy Kukin (Senior Project Manager, Head of Finance), Liene Meldere (Investment and Development Advisor), Valentins Kisels (IT Development Advisor)
Envestio review
From left: Evgeniy Kukin, Liene Meldere , Valentins Kisels
Envestio review
Me and Evgeniy doing the famous president handshake 🙂

Finished projects

The first stop on our day trip was to see some of the finished crypto currency mining projects.

The mining container in the picture below hosts hardware, assembled and sold to the client “Baltreit” SIA. In the list of finished projects these are labeled “Mobile Mining Unit A03”, Mobile Mining Unit A04”, and “Mobile Mining Unit A05”.

Please remember, that Envestio provides funding to companies which are looking for capital to expand their current business. Envestio is not involved in any crypto currency mining activities itself.

Envestio cryptocurrency mining container
The mining equipment is directly attached to a power plant for cheap electricity.

Current projects

You can read a lot more about the current projects on the Envestio webpage. Click on Projects in the top menu.

The next stop on our day trip was to see the “Power Plant – Development” project.

The power plant was originally built in 2012. Envestio co-funded an expansion in the first half of 2015 (April-May), where the second phase went into operation. Now, in 2018, it’s ready for further development.

The power plant is an effective, environmental-friendly facility that uses modern equipment and renewable energy source (wood chips) for production of thermal and electric power. The power plant provides hot water and electricity to the nearby municipality.

Especially during the summer, the power plant produces excess heat and energy that is not currently monetized. This is why they want to build a new grain drying facility that could make good use of the excess heat. The money raised by Envestio participants will fund this purpose.

Envestio power plant
A big pile of wood chips in front of the power plant.
Envestio power plant
This is the second section. It looks almost identical to the first section.
Envestio power plant
The wood chips are burning within the walls of this orange framed oven.
Envestio power plant
A live animated illustration of the combustion process is shown on nearby computer screens.

Investors get a nice 18% interest rate for investing into this 10 month project. The first 3 interest repayments have already been returned to the investors.

Construction of Modern “Slowfood” Street Market

The second stop was to see the location of the Modern “Slowfood” Street Market, which is now available for investment on the platform.

Latvian company SIA “Zelta Jumts” owns a land plot with a total area of 815 m2 in the very centre of Riga at the corner of Bruninieku and Kr. Barona Streets, surrounded by historical buildings and well-developed infrastructure. They have received a construction permit to build a number of 1-2 story wood pavilions with total useful area of 300 m2.

The company is looking forward to attract 350,000 EUR through bridge-financing from Envestio participants. Valuation of the land plot without construction is 870,000 EUR.

Investors get 17% interest rate for investing into this 9 month project. The first interest repayment was already returned to the investors.

Envestio slowfood market
Current state – Construction is scheduled to start in October.
Envestio slowfood market
Architectural drawing – The tree will be preserved and is a key design element.
Envestio slowfood market
Architectural drawing – Expected final result. I look very much forward to eating here next time I visit Riga.

Barona 72

The third project is located just on the opposite corner of the Slowfood  Street Market project described above.

SIA Baltic Real Estate Holding, an experienced Latvian real estate developer, is launching the construction process of 2500 m2 apartment building at Krisjana Barona Street 72, Riga and is planning to attract  medium-term mezzanine financing for 24 months.

Barona 72 (the official name of the project) will be a modern 22 apartment property, located on the cross of two historical streets in the central part of Riga: Krisjana Barona Street, which is a pedestrian devoted vibrant boulevard with lots of restaurants, cafes, and small shops, and Bruninieku Street – quiet and cosy avenue which is perfect for a slow walk among Riga art nouveau heritage.

Investors get 18% interest rate for investing into this 24 month project. The first interest repayment is scheduled for 15.07.2018.

Envestio Barona 72
Current state – Construction is scheduled to start in October.
Envestio Barona 72
Architectural drawing – Expected final result

Envestio review – Conclusion

My first impressions of Envestio and the team are very positive. They are kind, helpful, professional people with a great attitude.

Even though that platform is quite new, Envestio’s private investment fund has operated since 2014, so it functioned for 3,5 years before going public. The amount of completed projects shows they know what they’re doing.

The key distinction from many other Crowdinvesting and P2P platforms is that they are financing real business ventures that brings tangible added value to the economy, instead of simply refinancing personal loans. I really like that.

On top of that, the interest rates offered are very generous. Currently from 17-22% per year. And because the platform is young, it’s actually possible to get a share in the projects. Other popular platforms have too many investors and not enough projects.

Overall, I’m very positive and truly excited to see what the future holds for Envestio.

If you sign up and invest with Envestio through my referral link, you will get a 5€ bonus when you deposit at least 100€. In addition, you will also get a 0,5% cash back on all your investments the first 270 days. That’s 9 full months!

Various pictures from our trip to Riga

This was my first trip to Latvia. It’s a really nice country! Have you been in Riga? If not, I will finish this review with a small photo collage for you to enjoy.

Riga canal boat tours
Canal boat tours are available. Unfortunately, we didn’t have time to try it.
Riga by night
Restaurants and café’s have heated terraces. It’s very cozy in the evening. If you ate too much, a bicycle taxi driver will happily transport you to your hotel.
Statue in Riga
Excuse my ignorance. I’m not sure who this statue is.
Romantic boat ride Riga Canals
I was lucky to capture this shot of a guy giving his girlfriend a romantic boat ride experience. The canals light up in the evening. The colors change seamlessly between blue, green, red, yellow etc.
Lighthouse Riga
A beautiful lighthouse next to the spring in the canals of Riga
Latvian flag Riga canal
I’ve never seen a flag this big. Compare it to the Radisson Blu hotel buildings right next to it. The flagpole must be close to 50 meters high.
Bridge Riga Canal
Did you know that Envestio, Mintos, Grupeer, Robocash, Crowdestor, Twino and Swaper all have offices in Riga? I will probably come back another time to visit all of them.

More stories, more pictures?

Some people say I have a lot of numbers on my blog. For this reason, I tried a different approach this time and created a post with a lot of pictures and shared more details of my journey with you.

If you liked it and would like future posts to be more like this, please hit the like button below! Are you here for the numbers or do you appreciate personal stories as well?

Share your experience

Have you invested with Envestio? Do you have any questions or concerns? Please share your experience or thoughts on the platform below.

As investors we are all equal, small or big, it doesn’t matter. Let’s unite and prosper from the combined intelligence of our community!

123 Replies to “Envestio review – Flying to Riga to meet the team”

  1. Really cool post. Thank you for sharing all this information about Envestio, living in the south of Europe it would be hard to make this trip so your perspective and experience is very important!

  2. Money on the way to you – I just joined via your referal link.

    Keep up the good work.

  3. Hey Jorgen, thanks for the review. I really liked it!

    I will transfer funds to Envestio soon. All the best

    By the Way: i think Crowdestor also has an office in Riga, but i am not completely sure about this.

    1. Hi Gilbert,

      I’m glad you liked it!

      You are right about Crowdestor having an office in Riga. I just wrote to Gunars Udris and he confirmed. Good observation!

  4. Hi Jorgen (I use English Keyboard),

    Thanks for the deep research. Somehow I came across your blog recently and immediately started following you. I like the way you presented the Envestio. In fact, I also read your Crowdestate post. I signed up for both platforms and have started using/testing them.

    Looking forward to more interesting stuff from you!

    1. Hi Kalyan,

      Thank you so much for the kind words. Comments like yours is what keeps me motivated to spend countless hours on writing new blog posts.

      I will do my best to provide interesting content to all of you.

  5. Hello Jørgen,

    Do you know is it possible to invest in Envestio as a company?
    I didn’t find that option in Envestio registering page.
    How do you invest in crowfunding sites, as private investor or as company?

    1. Hi EP,

      I asked Eugene (coo@envestio.com) a similar question on 31.07.2018 and this was his reply:

      “Some people are asking about multiple accounts, also business accounts, so there will definitely be a possibility of having more than a one.”

      So it’s definitely in the cards, but I don’t know if it’s possible yet. If you want to start investing as a company just drop him an email.

      I’m investing as a private person. Maybe I will switch to a company later on.

  6. Thanx for interesting story. Ended up here by coincidence. Will look closer on the companies you write about! Regards, T
    Ps. The statue is Alexander Pushkin. The Russian author.

    1. Hi Toscananext,

      Pleasure is mine! Feel free to look around and don’t hesitate to ask if you have any questions.

      Thanks for enlightening me. In a way it makes me feel less stupid. I have not read any books by Russian authors. Maybe I should!

      Best regards,

  7. Great review. Finally someone who goes directly to the source. I’ll use your link to get an account there. 😉

    1. Thank you dirk. Too many rumors and opinions on the internet. Much better to go directly to the source and find out for yourself right?

      1. That’s for sure. It’s always better to have a look for yourself.

        Greet your mother. 😉

  8. Hi Jørgen,

    Have you tried to withdraw money from Envestio? I did not readily find any info on their website (e.g. processing time/potential fees).

    Keep up the good work!


    1. Hi Asbjorn,

      I have not tried to withdraw money yet but I’m not concerned about it. For whatever it’s worth, I have tried to use the buyback guarantee (sell an investment) and receive 95% of my principal back into my account. That worked like a charm.

      There are no fees for investors on Envestio and I guess the processing time will be 2-3 days like all other P2P platforms.

      1. To tail this question as it has come up more than once does this mean there is no way as of yet to get 100 percent of principal paid back at the end of say a year or however long i decide to invest?

        1. Well, you get 100% of your money back when the project maturity date has been reached (unless the borrower defaults, then you get at least 90%). Most projects have less than 12 months duration.

          I think Envestio will introduce a secondary market at some point, but right now you should only invest in short duration projects, if you would like to withdraw your money in the near future.

  9. Hi Jørgen.
    When will you post the second part of the review of Envestio? I’m looking forward to read it!

  10. In estonian group there is also a discussion about Envestio, https://www.facebook.com/groups/finantsvabadus/permalink/2643239132567378/?comment_id=2645578342333457&notif_id=1536369274631626&notif_t=group_comment_reply

    And people are worried, that for example DAGRE Ltd, that have got few loans from Envestio, have only 1 (one) employee, and other investments looks like to be owned by Envestio owners

    I also started invested there, but some things, like a 20-21% interest looks strange

    1. Hi Eduard,

      Thanks for sharing your concerns. It’s good to do some research to ensure everything is like it should be.

      Is it a problem that Dagre only has 1 employee, if the company relies on one advanced machine to extract the precious metals from the equipment? I don’t think so.

      Which projects do you think are owned by Envestio’s owners? Please make sure to post links to the sources when making statements. Such rumors could be created by competing companies. We need facts, not rumors 🙂

      20-21% interest doesn’t look strange if you understand how bridge financing works.

      1. Hi Jorgen,

        At the moment these are only rumours yes, I havent done any deep research by myself, so I also hope that Envestio is a good company. If everything goes well I am planing to invest up to 10% of my portfolio there. Also waiting for the possibility to invest as a company, because in Estonia company doesnt pay income taxes until it start to pay dividends, and as a private investor I have to pay taxes every year

    2. @Eduard – I checked the VAT numbers and history of the companies – so far all seems legit. Some of the companies operate since 1996 or 2008, others are at least 3-4 years old.

  11. Really good Job Jorgen !!

    Thanks for the information !!

    Keep it up !

  12. Hi.
    I have been using Envestio for about 2 months now. Interest are coming and all looks good. My question is have you tried to get your money transferred back to your bank account? Is there any fees?

  13. Hi Toni,

    Asbjorn asked the same question last month. See my answer from 06/09/2018 AT 14:15 (or press CTRL + F and search this page for “buyback”).


    1. I don’t mean buyback. I mean getting your money back from Envestio site to your bank account.

  14. Hi Jørgen,

    I’ve started to receive my first interest payments from Envestio, and I must say that this is by far the most promising platform that I’ve tried. I really like that you get a monthly payout, which will allow me to re-invest my interests every month. Do you know of similar platforms (that payout the interests on a monthly basis)?
    I like the real estate projects, so I’m looking for a site that can rival envestio, both in terms of interest rate and in amount of projects.

    1. Hi Nick,

      I couldn’t agree more. Monthly interest payments and high interest rates and buyback guarantee ticks all the right boxes for me.

      Crowdestor is the closest rival I can think of. They haven’t released as many projects though. And there is no buyback guarantee.

      Crowdestate is another good option, they have several projects released every month. The interest rates used to be high, but lately, most projects give around 11%. No buyback guarantee here, but very high success rate.

      Grupeer is a great option as well. Several business and real estate projects are released every month. Interest rates up to 15% and you get a full buyback guarantee on the platform.


      1. Yea, I noticed Grupper as well pays monthly interest on the loans. Current projects are “only” at 13% though, but I can see historically that 15-16% loans are also issued via Grupeer. I’ll keep my eyes open for new investment opportunities at Grupeer 😉
        I really like Bulkestate too, but unfortunately, they don’t pay out monthly interest on the projects, so I’m reluctant to invest too heavily in that platform at the moment. They do however give incentives if you invest a certain amount in their projects, which I have received already on my first project (although it was 1 day late – I wrote to them wondering when the incentive payouts was going to arrive – and they then arrived on the next day…Coincidence? I don’t know.)

    1. I understand. I don’t mind though, when the interest rate is the same and there’s buyback guarantee, I’m okay with both options.

  15. Signed up through your link and made 2 nice investments. 🙂 I do have 1 question though: why is their office and most of the projecst located in Latvia, but is the company from Estonia?

    1. Thanks Bart, I appreciate it! I think it’s mainly because of regulation, if they could have headquarters in Latvia they would have preferred that. Try to email their support, then you’ll get a more precise answer 🙂

  16. Hi Jorgen, thanks to you I have an Envestio investor and was wondering about the so-called new investments that appear in the platform. For instance, this “Fruits wholesale – factoring 6” is from the same borrower (SIA MERKURS-RIGANTE) as the “”Fruits wholesale – factoring 5”; the same happens with projects from “SRR JSC” – Renewal of freight containers – Tier N.
    So, what seems to be happening is that
    – in the first case the company is rolling over their debt, as soon as one loan ends, another one comes
    – the second case is similar but the loans actually overlay: Tier 8 is 100k and started Nov 7th and Tier 9 is 90k and started 14th Nov, so actually 190k of loan amount!

    This seems strange from a risk management perspective and not very reassuring for the investor, shouldn’t the new projects come from different companies? And what about the same company with 2 active loans? What are your thoughts on these issues?

    1. Hi, seems there are no thoughts by Jørgen 😉

      I agree to your point and for me I do not invest in the other tiers. With the effect that there are a poor amount of really new investments, sadly!

    2. I was sure I had answered this question already? I wonder if I deleted my comment somehow or maybe the same question was raised in another thread. Anyways, here goes again 🙂

      Envestio creates several Tiers because the borrower needs 500.000€ for example. They know this from the beginning, but it can take time to raise a big amount, especially if the borrower has no previous repayment history. That’s why they create smaller Tiers and start with lower amounts. This way the borrower get some capital and can start working on the project. At the same time he proves to the investors that he pays back, so it’s easier to get the next Tiers funded.

      I wouldn’t call it an issue, it’s a common way to get funding from investors.

  17. Their buyback promise seems a bit strange to me. If they have cash to immediately buy back 95% of all investors’ investments at any time, why would they need to collect retail investors’ money in the first place… And if they don’t have such pile of cash, then they’re promising something that they won’t be able to deliver under a negative scenario (too many investors triggering buyback). Am I missing something?

    1. They currently have money to buy back 90% of defaulted projects. The possibility of all projects defaulting at the same time is very small, so maybe they don’t need all of it to safely give a guarantee?

      Remember, even though the buyback is similar for all projects at the moment, this could change for future projects.

      1. Hi. Unlike most platforms where only late loans are bought back, if I understand correctly Envestio undertakes to instantly buy back current ones. It’s not impossible to fathom a confidence crisis (with general industry or Envestio itself) with investors requesting buy back en masse (there is no state depositor protection). Like a ‘bank run’ on Envestio.
        I would believe it more if they guaranteed like 5-25% of the future loans. (But such buyback guarantee would be near to useless.) If they claim they’re “well capitalized” to guarantee 95% buybacks, it would be good to see it backed up with some specifics: Envestio capital vs. total outstanding loans. Perfectly audited?

        1. Envestio allows you to sell your investment back to them for 95% of the principal invested. I don’t think there will be any rush to do this.

          I like transparency and it would be good to see how much money Envestio have in their fund to provide for buybacks. You can write to them and suggest it 🙂

  18. I think it is weird to pay 20+ percentages incentive on real estate loans. Why not to use regular banks and euribors not to mention longer time period for loan.

    1. They do use regular banks as well. However, sometimes more funds are needed for downpayment and other expenses related to the project. Try to google “bridge financing” or read more on Envestio’s FAQ.

  19. How long time did you guys wait from uploading your documents to getting them verified?

    1. It took 3-4 days for me I think.. Verification is only necessary for withdrawal, so unless you’re in a hurry to withdraw funds, it doesn’t matter much 🙂

    1. Hi Jack,

      That’s alright, we all have different risk profiles and we should only invest where we feel comfortable. I’m happy with my investment so far. I don’t see anything alarming in the links you provided?

      1. Yes, you are correct about risk profile, and before I invest I try to understand the basics from the company.

        Reasons I decided not to use Envestio are:
        – Envestio hasn’t provided any financial information -> no knowing how much loss they made on their first year and how much assets they have (left) -> no knowing if they have enough funds for withdrawal or will they have second year. (as a comparison Mintos reached profitability on third year and has published annual reports).
        – One of Envestio’s value is transparency which is in direct contradiction with bullet above.
        – Envestio has been late in tax filings -> This could be sign of lack of funds, or at least bad company management.
        – Three of Envestio’s CEO’s companies have missing annual statements or late tax payments -> This with bullet above gives rather negative image on management. If management is not able to file taxes and other paperwork in time, are able to make Envestio profitable?

        As Envestio hasn’t disclosed anything about their financial status investor can only guess where they are and where they are going. Guesswork, as you know, is not strong foundation for investment.

        1. Hi Jack,

          I understand your concern about the lack of information regarding their financials. Envestio is not even a year old yet, so I guess that’s the main reason for the lack of financial statements. I expect reports from 2018 to be available medio 2019. If you email Eugene, I’m sure you’ll get a good answer.

  20. Ciao Jorgen,

    I’m reading your reviews from a while and I have already register in Mintos and Envestio with your referral. Envestio today!
    FastInvest and Grupeer are the next!

    I’m trying to start the same journey to independence.

    Hope to read you soon.

    1. Hi Emanuele,

      I wish you all the best with your investments, thanks for the support! Hope to see you around 🙂


  21. Hi Jorgen, I would really be cautios. Especially those older cryptocurrency mining projects look extremely suspicious,

    Project operated by Ostbin Group which has 400 Euro capital (10k CZK)

    With cryptocurrency prices falling down the toilet last 9 months I can’t imagine how this could be profitable and paid off (maybe using money collected from other projects) We will see in May anyway….hope I am wrong on this

    1. Hi Hans,

      When I invest I turn off my imagination and look at facts. Whether it’s profitable or not to do crypto mining in 2019 is really none of my business 🙂 Envestio has done the due diligence and decided The Ostbin Group had enough assets to make the loan secure. I trust their decision. If The Ostbin Group happen to default, I’m still covered by the 90% buyback guarantee.

      The Ostbin Group already successfully paid back the last Crypto project called “Crypto-mining Farm 130GTX1080ti” where I was an investor as well. All interest and principal payments were on time. In addition, all interest payments on the Phi200 project has been paid on time as well.

      Money from other projects will never be used to cover losses in other projects. Envestio is just the middle man, connecting borrowers with investors. To use money from another project would be comparable to Coca Cola giving money to Nestlé if they had a bad year – It just doesn’t happen.

  22. first congratulations for the post and all information.
    As I have already seen in other post yours, could you here (or open a topic for this) to show in practice how the investments would work? some strategy that you are using at the moment, as something self-invests or something, I am very impolgado to participate in the platform but I am without any knowledge with the tools available …

    1. Hi Tiago,
      I don’t have any particular strategy on Envestio other than trying to diversify between many different projects. The best way to get acquainted with a platform is to start with small amounts and see how it works out. You can always add more if you feel comfortable.

  23. One thing that makes me wonder is why these companies pay so much interest on Envestio, and why they don’t borrow from banks at a much more reasonable rate… It would be nice to talk to them as well and see their reasons for choosing Envestio.

    1. Try to start your own company and seek funding, then you’ll know the answer 🙂 It’s not easy for companies to borrow money in the banks.

  24. Hi Jorgen, I don’t what is going on with Envestio. Nobody answering emails and phone calls for over 2 days. Money which I transferred not appearing in my account for over more than 2 days while using their new bank account. Maybe I am too suspicious. But better safe than sorry. Customer contact is bad that is for sure.

    1. Hi Facer,
      If you take a closer look at your emails, Envestio wrote this on April 30th. “Kindly note that due to public holidays in Baltic countries we will not publish new loans until May 7.” So the reason for the lack of response is due to the public holidays. I talked with Eugene yesterday, you should be able to get through to them by phone today.

  25. Hi Jorgen, I didn’t notice that message. I guess that must be the reason. That means that adding funds is a manual action somehow. Thx for your response

  26. Great blog, I’ll find it from one post in facebook from my friend and start reading. I wish you make your dream possible to earn 20K euro per month from passive income. This is and my dream.

  27. Hi Jørgen, Nice blog! Do you know if it is normal that the verification procedure use to be difficult at Envestio? I have uploaded the documents (twice) and I am still not verified. I don’t get very useful help from customer service, and actually don’t know what is wrong. It also seems like I can’t use transferwire to add funds, but as I understand it, I have to make it from my personal bank account, which is more expensive. How do you add funds? And am I just unlucky with this kind of slow verification proces?

    1. Hi Karina. Verification didn’t take too long for me, but I was one of the early investors so maybe they weren’t so busy back then. I’m not sure of the different deposit options, I always use bank transfer for all my investments. I’ve heard of other people using Revolut, so it should be possible. If you give them a call, you should be able to get your questions answered faster.

  28. Thanks for your reply. I finally got verified, and they wrote the delay was due to many new registrations. So I’m close to ready now 🙂

    1. Hi
      I am experiencing the same problem with Envestio. Long verification proces and not very useful information from support.
      Also is it me or are the projects very quick to be funded?

      1. Even though it might take some time to get verified, you can still invest and use the site, so it’s not a big deal. The projects are usually funded within 30 minutes. Envestio is very popular because of buyback guarantee, relatively short term loans and high interest rates.

  29. Okay, I did not know, that you could invest just by creating a user profile 🙂 Good to know. Nothing holding me back now 🙂
    30 minutes for projects to be funded is very quick. I guess I need to use the Autoinvest function in order to be able to react fast enough.

    1. You need verification to withdraw, that’s all. There’s no auto invest function yet, it’s in development. I’ve been told that Envestio will release some exciting news very soon. I’m looking for to hearing what it is.

  30. Cool. I am looking forward to start using their platform, and hopefully be quick enough to get into some of their projects.
    And also thank you for some good reviews of the different platforms, and your quick reply.

  31. Hi Jörgen! Please, a technical/legal question. Envestio is asking me to provide them with documents on source of funds.
    Another platforms with same level of investment (above 10K€) aren’t bordering me with this. Is it also your case? If so, please could you share with us which ones are they and what kind of documents are you providing.

    Many thank!,

    1. Hi Iniaki. Yes, I was asked to provide the same thing. I just submitted my 2018 tax report and it was approved immediately. You can provide all kind of proof, available options are listed in the email you received.

      I’m actually happy that they are talking these steps. It proves they are serious about the platform and don’t want problems when banks asks for proof of money origin (to reduce/eliminate money laundry)

  32. Hi Jorge,
    envestio has been really quiet lately. no new projects and I’ve been seen some skeptical comments on other blogs. what is your view on the current state of envestio?

  33. I want to share with my so far not very good experience with Envestio. Forget about not taking calls and reviewing account application documents for 3 weeks. They say they are too busy taking up new investors (really?!). Also no new projects for months – I guess this time too busy taking up new projects, huh?

    But I became worried when my payment provider blocked any payments to Envestio and declined to name the reason. May be it is their shady Latvian bank, formerly owned by SDN sanctioned person, or may be not because I tried to send to their account with Swedbank with no success.

    By the way they changed three bank accounts in last two weeks – question is why?

    1. To say the least, their communication is at a very minimum level. One can feel suspicious about that. If I were Envestio I would communicate open and transparent to all my clients, without them having to ask what is going on. Their business model is based upon trust. Now people are guessing and gossiping about what is going on. Of course this is just my opinion.

  34. The best thing about this review is actually a comment section, which actually shows a wider picture.

    Jorgen, I wish you a good luck in your venture and in the same time want to ask you for a more critical reviews next time.

    Otherwise it looks insincere! But that’s my subjective opinion.

  35. Great review, signed up with your link. Hopefully they have improved their communication and verification process 🙂

  36. Alot of issues with Envestio lately and no new projects. I will take my money out as there is alot of cash drag because of a lack of projects.

    1. What issues are you referring to? I’m not aware of any issues. They have less projects because they are transitioning from being a small platform with small projects to being a larger player with bigger projects. They plan to release one big project every week by the end of the year.

  37. Hi Jørgen,

    Thanks for all the good information and advice. You have a great blog.

    Have Envestio changed their deposit policy to your knowledge? I have tried to “add funds” and tried the bank transfer toggle also but neither work. It is requesting me to upload documents before I can invest money.

    They are very slow confirming documentation, they refused my passport pdf for some reason so I’m currently awaiting my driving licence to be confirmed. Thanks in advance to any insight.


    1. Hi Paul. Due to AML and KYC requirements, validation of investors are necessary. I’ve sent various documents to them as well, it took a few days for them to be confirmed.

      If you call them, they might process your request faster.

  38. Have I noticed so many resales of projects on Envestio, never happened before, that there is some problem that I do not know?

  39. Hello Jørgen, lot of thanks to you. I am in the way to Financial Freedom. Just starting making 30€ per month in interests. I am from Argentina and moved to Spain this Year (Madrid) and will be moving to Málaga Next year. This will help me reducing living expenses… I am starting… Step by step. Hope to see you sometime, we will be near Staying in málaga and Portugal.

  40. Hello Jørgen, lot of thanks to you. I am in the way to Financial Freedom. Just starting making 30€ per month in interests. I am from Argentina and moved to Spain this Year (Madrid) and will be moving to Málaga Next year. This will help me reducing living expenses… I am starting… Step by step. Hope to see you sometime, we will be near Staying in málaga and Portugal.

  41. There are still many sales on Envestio, surely some projects are in default

    1. Some investors sell out because they hear rumors and have second thoughts. Or maybe they just need the money. I wouldn’t conclude that some projects are in default because of the sales. If you look closer, all kinds of projects are sold.

  42. Hi Jorgen, did you notice that all the projects reimbursed have a maximum amount of € 100,000, while those to be reimbursed have amounts from € 500,000 to € 1000000, don’t you think they are? Right now that there are many volumes on sale?

    1. Envestio started out with small projects. There’s no way they could fund big projects in a reasonable time frame in the beginning. When they reached a certain size (starting from November), they switched to bigger projects with more well known companies and larger volumes. This have been the plan from the beginning, Eugene told me when I visited them the first time. I don’t see anything wrong with that strategy.

      The fuzz with Kuetzal makes people quit from several P2B platforms, because they get scared of the industry in general. The amounts for sale on the secondary market is very minimal compared to the total amount of funding.

  43. Hi Jorgen,what do you think of this situation, it seems very worrying to me.

  44. Hello Jorg,
    I ask on ENVESTIO my first withdrawal request on Monday January 13th and I still did not receive anything on my account, I contacted them 2 times by LIVE CHAT and by email, but no response. And now the web site ENVESTIO can’t be reached !!!!!! What do you think about that ?

  45. Hi Jorgen,

    Can you please come with a statement? I think the community is panicking, and when we can’t get an answer from Envestio (who has very bad communication), we are looking at you. I mean you are one of the top 5 our there in the crowd field.

    We need someone to stand up now and lead us through this.

    Is that you?

    1. From what I can read, Envestio has been hit by some attacks today which has led to problems keeping the site running. They already anwered by writing a message about it today: https://blog.envestio.com/envestio/ and on their Facebook page.

      Instead of taking on the role as a victim, I’d appreciate if Envestio would tell about their plans to recover. If it’s a simple DDoS attack, it would be relatively simple to add Cloudflare to their DNS.

  46. Aren’t you worried Jorgen. I would be. We just see a deleted webpage on a azure server. This has nothing to do with a DDOS because on the same IP there are other domains working without a problem.

    1. Of course I’m worried. I’ve also worked long enough with IT to know that such things can happen and Envestio should have a way to deal with it. So I’m expecting to see some answers and progress in the following days.
      The 404 error doesn’t necessarily mean that the webpage is deleted by the way. It could mean that the Azure server is not setup to display the website correctly. Maybe Envestio did this on purpose to avoid further attacks during the night.

      1. Dear Jorgen . I had a web page and also was attacked. A very little web develloper in the nordwest corner in Spain solved the problem in the night. So today 24th the web is non existing so it is because nobody want it working

  47. As i suppose that a lot of people are asking for buyback I advice you to read the statement of Wisefund sent to every investor Clear , honest and intelligent.My personal answer was  as follows: It is legal and moral obligation of any financial firm to take care of the rights of all and every costumer (in this case investors)So that means that honouring buybacks may put in danger the rights of the investors that were not the first ones to ask for money back.So well fot Wisefund Refusing buyback is absolute legal. Some banks have done. Remember “Corralito” in Argentina.I expect to continue to invest.

  48. Hi Jorgen.

    You might have noticed that Envestio has taken down the website. It’s just gone, disappeared!

    I’m thinking now that together with the site, the money has disappeared also…
    Have you been able to contact them ?

    Now, I can only thing that Envestio was a fraud and we all have lost the money.

  49. Hi all,

    I have realized that the email news@envestio.com is not working either. It came back rejected when i was going to ask for an update on the situation.
    It seems like the problem is worse than just a website not working unfortunately.

  50. The Envestion pyramid has collapsed due to too many withdrwal. Luckily I only loose few thousands rather than tens.

  51. Envestio SI OÜ (registry code 14433607), Harju maakond, Tallinn, Nõmme linnaosa, Rännaku pst 12, 10917 does not hold an activity license for the provision of investment services in Estonia and therefore Envestio SI OÜ is not authorized to provide investment services in Estonia.

    If you find that Envestio SI OÜ has committed a crime then we suggest you to contact with your complaint the Estonian Police and Border Guard Board (https://www.politsei.ee/en) who, upon such possibility, would deal with your issue. So I fear for the worst.

    1. You should ask the same question about bigger and trusted platforms like Mintos, EstateGuru and Crowdestate. I think you’ll get the same reply. As far as I know, the platforms doesn’t need a license because they act as middle-men. They don’t offer any investments themselves, they only connect businesses with borrowers.

  52. Hello Jorgen.

    It’s clear that Envestio disappeared and with them 30 Millions €.
    Are you planing any initiative on this case? I mean, if the money was transferred to their account there should be a way to find a responsible on their side(!), no ?

    If I am right, you had about 80K € with them. Are going to make some actions? Going to the police, etc, etc.
    I’m sure lot of people would join you.


    1. HI Eugen.

      That money is lost since long time ago, my friend. Just forget about it. Embrace the lost and learn from it, it’s the only thing we can do.

      We should recognize it was a thing quite well done. Everything well planned, they earn the trust from Lot of people, during a couple of years, they they run away with the money.

      What makes me think, it’s that if i happened once it can easily happened again, and again… What’s gonna be the next fraud ? Who knows… !

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