When I decided to start investing in P2P, I needed to choose a platform to start with. I knew Mintos was the biggest one but I didn't want to start with it because I'm always wary of market leaders, be it a bank or a phone manufacturer or anything else. My thinking is that they may grow complacent and their service or product might not be the best.
After doing some research, I picked doFinance to start with. Their offer looked almost like a bank deposit - "you give us money for 6 months, we'll give you a fixed 12% return". I was a little worried about the legitimacy of the company because it was quite new and I hadn't heard about it before, but then I read an interview with the CEO and decided to trust them. I deposited 800 € on January 8th with them and haven't touched them since. The 6 months will be up soon so I will have to reinvest the money.
I kept gathering more information about the various platforms during January and decided to also open accounts at Mintos and Viainvest. Mintos convinced me that it was worthy of being the market leader, plus the higher interest rates and cashback offers from Mogo and Lendo were very tempting. Viainvest, on the other hand, had lower interest rates, but the company had had lending operations in Latvia for many years so the platform seemed more trustworthy to me.
In the next months, I kept adding more and more money to Mintos, and in April I also started investing at Robocash. Here are all my platforms:
As you can see, my portfolio is very Mintos-heavy. That's because I really believe in them and also because my XIRR there so far is 19.01%. I think that most articles on this blog will be about what's happening on Mintos because it is by far my most interesting platform.