In the past year I’ve tried out almost 30 European p2p lending platforms. In broad lines, the all follow the same business model: I lend money through them and I get paid interest, and they get a fee. But how do I rank them? If I was to make a top 10, I know which platforms would get into that list. I know Mintos would be my top 1 platform, but why is that?
Since June last year, my p2p lending portfolio grew from 10 EUR to 20.000 EUR. I didn’t intend to grow it this fast, but accidents happen. I couldn’t learn about a platform by reading what others were saying, so I had to try it out. Add some funds. See how payments come. See how the platform handles customer requests and other issues. After I got comfortable with one platform, I couldn’t just withdraw the funds. The returns were too good to leave them there.
This got me wondering if I could live off my p2p investments earnings. And how much time it would take until I’d be able to do so. And I started tinkering with numbers.