Short update on FastInvest

Hi guys!

I just want to give you a short update after the last portfolio update, where I addressed a concern about FastInvest, because I saw that Dovile left her job.

It turns out that Dovile went on maternity leave. She is expecting a baby girl in a few months!

That means she is still employed, just not available for some time.

FastInvest
Don’t scare us like that Dovile!

Poll results

According to the recent poll, many of you wanted me to visit FastInvest.

FastInvest
FastInvest was a clear winner in this poll!

 

I have good news folks…

I’m going to visit FastInvest!

This week, I have been talking with FastInvest about visiting them in person. I would like to get some answers to our questions and write a full blog post about it, just like when I visited Envestio.

They accepted my request and invited me over! I’m probably going to meet them in late October or start November.

FastInvest

Which questions should I ask?

I know many of you have questions as well.

I invite you to write your questions in the comments below and I will do my best to get answers to all of them!

30 Replies to “Short update on FastInvest”

  1. Super!
    Look forward to read your review of fastInvest.
    Also cudos on the update on the marketing Mng who is expecting. Gongrats D.!

  2. Some time ago in a facebook group it was commented that fastinvest answered “it is not important” or something like that when asked who is / are their loan originators. That information is not disclosed in the platform website, raising suspicions that fastinvest could be a ponzi scheme. So, questions for fastinvest: who is or are their loan originators? Why don’t they make it public on the site? Why they don’t think it is important for the investor to know in who they are investing?

  3. Good morning Jorgen,
    I find your blog very interesting I know it must take a lot of time and effort so thank you.
    There does not appear to be any more loans coming out of the UK which I find curious!

    1. Hi Michael,

      I spend a lot of time but it’s a passion and a hobby for me so I enjoy doing it!

      There is actually several UK loans available. My auto-invest snags them up regularly.

  4. Really glad to hear that you’re going to meet Fast Invest! I feel uncomfortable increasing my investment there until I know about them, and your meeting with Envestio really helped with that.

    These are the main points I would personally like them to address:

    1. Why the secrecy? It’s not just the names of the loan originators, it’s also the number and amount of funded loans, loan performance, the mysterious office addresses, their unrealistic claims regarding the number of investors…

    We know they have confidentiality agreements with loan originators, and are keeping their data hidden to remain competitive. But the bottom line is: Their competitors manage to be profitable while maintaining transparency. So why is Fast Invest so secretive, and when do they intend to improve their transparency?

    2. What’s Simona’s story? How does an 18 year old Lithuanian art student get appointed to the board of a UK loan company, then takes over that company and turns it into an investment platform?

    3. The whole crypto thing seems detached from reality. During the past 8 months they’ve recruited 150 million tokens (some of those were given away for free). Their goal is to reach 5 billion FIT, worth around 211$ million. In the current rate it would take about 33 years.

    The reason this worries me is that a large part of their operation is dedicated to crypto. They seem to have a fantasy of recruiting this insane amount of money in the next few months through the ICO, and then use it to expand their platform.

    In reality, they have no chance of getting anywhere unless they expand the platform in the coming months to offer more services to real people with real money: international transfers, currency exchange, and more loan financing. Are they working on it now, or are they waiting for the imaginary 211$ million?

    Last thing: You seem like a really nice and polite guy, but please remember that you’re going there to investigate a serious investment opportunity and establish trust. Even though you’ll be their guest, you shouldn’t be embarrassed to ask difficult questions and demand answers. You’d also be bringing them a lot of traffic.

    We’re counting on you to break the mystery! 🙂

    1. Really good questions Ido. I’ll do my best to get answers to all of them. I hope my visit will make them realize that they need to be a lot more transparent if they are serious about becoming a major player in the P2P sector.

    2. Hello,

      Found out about FastInvest from your blog, got me interested so i created an account.
      But something didn’t feel right while browsing their site, so i started an investigation into the company and the people behind it. After diving into it, i got more questions then answers. I am a longterm user (3yrs+) of Mintos and Twino so i know how these site’s operate.

      1: The person above me has a valid point, how does a 23 year old art student got into the position of CEO, if i look into the official documents from the chamber of commerce her appointment has been made in 2013, meaning she was 18 or 19 years old at the moment. Whats up? A (multi) million dollar company ran by an inexperienced CEO? I can see that in fact a few older – probably more experienced persons – where active in the role of director but they resigned commission a while ago. I would like to know which people are backing her up in running the company.

      2: I really would recommend them to open up and give more info about their loan originators. It shows trust.

      3: Comming from the crypto wild-wild-west as an early investor starting in 2011, i think that getting their targeted amount of 211 million dollars is not a scenario that will likely happen anytime soon. The last financial project that gathered a huge amount of money via ICO was (Bankera) and it took them 8 months to get to the end of their ICO. Don’t forget that this was in the middle of the crypto hype last year (may 2017 / december 2017) in a period that everybody just gave money to everything that called itself an ICO. People are way more vigilant now and actually do their homework before investing in something.

  5. Currently I can see the next payment date. Could the be a list of upcoming payments with dates?

  6. Hi, Am I the only one who has difficulty withdrawing money from Fastinvest? I need to send an email to request the validation of the withdrawal at D + 4

  7. Jorgen,
    I make a withdrawal on Monday of 100 €. My account is debited of 100 € and the heading “reserved fund” is credited of the same amount. On Thursday morning the 100 € are always to the credit of the account “Funds reserved” so the transfer is still not validated.
    I send an email, then the withdrawal is manually validated. Reserved funds are debited, the transfer is executed.
    D + 4 means day +4

  8. My bank account is credited 5 or 6 days worked after my withdrawal request. On a platform I always test withdrawals before depositing large amounts.

    With Robocash, if I request a withdrawal, my bank account is credited 1 or 2 business days after my request. I feel that Fastinvest retaining maximum money…

  9. Fast Invest site is down (homepage is on, but once I input user/pass I get a blank screen with “Whoops, looks like something went wrong.”). Does anyone know what is going on?

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