I was planning to write a blog but didn”t manage to find time especially in the context of P2P lending.
There are lots of site available in europe for P2P lending and some of them turned out to be outright scam. I have personally invested small amounts in some of them.
Envestio and Keutzal turned out to be scam and i lost my investments. This was lesson learened that can not only loose your investment because of lender defaults but also the operator might disappear which happened in case of Keutzal and Envestio.
Looking back there were few red flags and we need be do our own due diligence.
Stay away from platforms:
- Not doing or minimal KYC
- Platform changes bank account
- Offers unusually high interest rates eg Envestio and Keutzal were offering 20%
- Interface looks very similar to other platforms. Chances are both are scams example Envestio and Keutzal
In the next blog, I will share my experience with other P2P lending platforms
Financial Independence Journey 