FastInvest: key facts
- Webpage: https://www.fastinvest.com/en
- Buyback Guarantee: Yes
- Auto-invest: Yes (minimalistic)
- Secondary market: Yes
- Loan categories: consumer loans
- Loan rates: typically 9-13%
- Investors: ca. 30,000
- Currencies: EUR, PLN
- Regulation (from their website): FAST INVEST LTD is not regulated under any financial services license and is an online peer-to-peer platform acting as an intermediary in the sale of claim rights between investors and loan originators.
Methodology and Results
I was looking for sources of data by googling “Fastinvest review”, “Fastinvest Erfahrungen” etc. I did the search in English, German, Spanish and Italian. From a list of found reviews I only kept those published or updated in the last six months and providing an overall score for the platform. In this way I got five reviews and scores from three portals with people’s opinions. Here are the details.
1. P2P Empire (https://p2pempire.com/en/review/fast-invest)
- Overall score: 2.0
- Risk & Return score: 1.0
- Date: July 2020
2. Jean Galea (https://jeangalea.com/fast-invest-review/)
- Overall score: 1.0
- Date: May 2020
From that review:
3. Marco Schwartz (https://marcoschwartz.com/fast-invest-review)
- Overall score: 4.5
- Date: July 2020
Just to show how this contrasts with Jean Galea’s assessment:
4. P2P Lending Sites (https://p2plendingsites.com/fast-invest-review/)
- Overall score: 3.75 (this is mean of four different scores)
- Risk/Reward score: 3.0
- Date: October 2020
5. P2P Platforms (https://p2pplatforms.com/fast-invest-review/)
- Overall score: 3.5
- Date: October 2020
Based on those reviews, mean overall score is 2.95.
Opinions from portals
1. Trustpilot (https://www.trustpilot.com/review/fastinvest.com)
Mean score 2.6 based on 806 votes.
Worth noting, plenty of people express their doubts about FastInvest credibility, mostly because of delayed withdrawals (orders dating back April-May or so) and some guys claim FastInvest is a scam.
2. Sitejabber (https://www.sitejabber.com/reviews/fastinvest.com)
Score of 3.0 based on 1 review.
3. Google Reviews (https://www.google.com/search?q=fastinvest#lrd=0x47d89bea702679ff:0xf95fd8a6d9afbf0e,1,,,)
Score of 2.5, based on 31 reviews.
Weighted average (accounting for the number of people who voted in each poll): (2.6 * 806 + 3.0 * 1 + 2.5 * 31) / (806 + 1 + 31) = 2.6
The final FastInvest Score is a mean value of “mean overall score” from reviews and “weighted average” from portals:
FastInvest Score = 2.78
FastInvest communicates with its customers and others through their blog (https://www.fastinvest.com/en/blog), however there have been no posts for two months now. They also have some social media accounts, including Twitter (https://twitter.com/fastinvest_com?lang=en), where last tweet dates back to June…
Contact with customers
FastInvest extremely rarely communicates with its customers. There are no updates on the current condition of the platform, their strategy to fight COVID-related crisis and no updates on loan originators.
Four days ago I received the following message:
Worth noting, I submitted the documents a couple of months ago. And exactly the same photo of passport was accepted by all other P2P platforms in my portfolio. in my opinion, this is just a play to delay any withdrawals.
Do I invest with Fastinvest?
Unfortunately, FastInvest is part of my P2P lending portfolio.
Reviews that were not taken into account
Thank you for your attention,
Michal, the Investing Scientist
- What you see here is my personal opinion and should not be treated as investing advice
- I’m investing with FastInvest
- The post contains no affiliate links; no promotional content
- P2P lending is not for everyone: one gets relatively high yields but at high risk. If you decide to invest in P2P market, I’d suggest to keep P2P allocation at max. 10%-20% of your investment portfolio