doFinance was the very first P2P platform I registered at and wired my money to. I chose it because it was the simplest one, not requiring any maintenance at all. At the time (January 2018) they offered a 12% return if the investment was 6 months long so I put 800 € there and watched my money grow. It was almost like a savings account at a bank.
The first bit of bad news appeared in April. The three different rates that had previously been 6%, 8%, and 12% were changed to 5%, 7%, and 9%. My 800 € were still earning 12% but once the 6 months were up in July, I would have to reinvest them at 9% because they didn't offer 12% anymore.
Even though 9% was the least return of any of my platforms, I decided that I would stick with doFinance and not withdraw my money because I believed in the platform and I like to diversify.
So July came and I had to reinvest my money, and that's when I got a second surprise. I was unable to invest the money because they didn't have enough loans available. I couldn't believe it. I mean, I know Robocash sometimes doesn't have enough loans but they offer 14% instead of only 9%.
So I withdrew 400 € (half of my initial investment) and decided to wait a bit to see if they would enable investing again. About a week or so later, everything returned to normal and I was able to invest the rest of my money.
Now it's November. My 450 € are still earning 9% but it seems that the problems with loans are not over. A couple weeks ago I saw other investors complaining again about not being able to invest.
What's more, the platform hasn't updated their blog since December 2017. Good communication and transparency is very important to earn the trust of investors but doFinance has been pretty much silent all year long. I have no idea how the platform is doing and it makes me nervous. It seems that either they have too many investors or problems with the lending business. In either case, 9% is not enough to justify staying here so I'll be withdrawing all my money once it becomes available in January 2019.