I’ve written a while ago a review about Twino, one of the oldest p2p lending platforms from Latvia. I still believe it’s a good p2p lending platform, but it’s not for me.

I’ve created an account on Twino a few weeks after I was on Mintos. The reviews on Twino were great, proclaiming good returns, tons of users and I don’t know what.

How was my experience investing in Twino loans

So, I’ve added some funds into my account, went to the Invest tab and the first thing that welcomed me was an auto-invest setup tool.

I could select the interest rate range (from 0% to 40%), loan terms, status, countries, payment or buyback guarantees, typical stuff.

And that was all.

It warned me somewhere that it might take a few days to fill out my investments based on my profile settings, but that’s it.

It never told me there are no current loans available with my criteria, or that they were no loans like that in the past 100 years. Why would they let you choose 40% interest rate if they never have those types of loans? I don’t know.

Anyway, I’ve only set a decent interest rate, like 10%. It took a bit more than a week to find enough loans to invest the 275 EUR I’ve added to the account.

I could say it was partly my fault, I should have noticed that under the main website menu, there was a smaller and a bit more invisible Invest menu that also had a Manual Investment option. And if I clicked that, I could have seen what loans were available at the time.

It took me 2 months to see that menu link. There were around 6 loans available, at 9% to 10% interest rates. At the current time, there are about 30 loans available, all with an 8% interest rate.


But this is not all.

There’s no activity on the platform

From what I see on the website, it always gives me the impression there’s no activity there. The loans available stay available a few days at a time, then they suddenly disappear. There are always only a few loans available.

However, Twino’s stats page shows that in the last year they managed to fund almost 200 million EUR in loans, and they paid around 2.5 million EUR interest back to the investors.

Also, the numbers of investors increased from 11.500 12 months ago to 15.500 now. A 44% increase in a single year, that’s not bad for a platform that looks dead.

I’ve seen no blog, company updates, nothing. It looks like whoever manages the website moved on to greener pastures, but the platform still runs on autopilot. As an investor, I feel neglected.

The secondary market

A secondary market per se doesn’t exist. If I sell my investment, I sell it back to the primary market. Nobody sees that I’m selling it. I can’t add a premium or a discount to profit or exit easier from my investment.

These being said, the overall experience wasn’t that bad.

How are my investments doing

I can’t really complain in this department. I’ve only invested in loans with buyback and payment guarantee. This means even if the loans are delayed or defaulted, I still get my payments and invested money back.

In the past 5 months, my 275 EUR investment has generated for me 9.81 EUR, and Twino says my return rate should be 12.86%.

Of course, their expected return rate assumes I’ll reinvest any profit made from loan payments, but I just withdrew the funds and invested them in other platforms.

I still have 50 EUR funds invested in 2 loans that are either late with their payments or defaulted. As soon as I get those funds released, I can move on. I’m not really in a hurry, so I’ll wait to cash out the interest payments before cashing out.

So, where am I moving my funds?

There are better alternatives on the market

The currently available loans on Twino only offer 8% interest rate. On the other hand, the loans come with a payment guarantee, so as long as Twino doesn’t go bankrupt I’ll receive my payments even if the loan defaults.

I get the same payment guaranteed deal on Fast Invest or PeerBerry or Viventor, and with better interest rates, so I see no motive why I shouldn’t move my funds there.

Mintos also offers a buyback guarantee, even if that’s only after 60 days and the interest payments are lost. And they still have better rates than Twino.

So, farewell, Twino!

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