I spent much of May searching out new platforms, reading reviews, checking their terms and looking at the risks involved.
Trial or Error
At this point Mintos was still my only investment. It was time to trial another couple of candidates and start to build my portfolio across alternative platforms.
The first one I looked at was a Bulgarian platform called IUVO. They have an office in Bulgaria and this made me feel like I wanted to be part of it. I spoke to the guys in Sofia and liked what I heard, adding 1000 Euros to my account.
IUVO is a nice looking and easy to use platform and their support is on the ball and approachable. They offer the ability to invest in Bulgarian Leva as well as Euros, but unless Leva is your main currency the returns are better on the Euro loans. I invested in the Euro side and am excited to see what will happen. Watch this space!
The second site was called Envestio and was a little different from previous investments. They offer higher interest rates but their risk protection is dependent on the individual project and not usually 100%. There was a definite higher risk to this route.
I registered on the platform and saw new projects being launched, but I was always too slow to invest. This month I decided to put in 1000 Euros and wait for a new project to appear. Unfortunately there were no new projects launched this month so it is still sitting there.
Meanwhile, the results I was getting in the Mintos daily email summary encouraged me to add more funds to this platform too. I increased my investment here to my max of 10000 Euros.
Check out my planning article! You’ll see that the intention was to have FOUR platforms all with 10k invested to attain my goal. Month two and I was already there with the first.
Now I just had to watch and wait (with a little tweaking here and there).
As you can see by the chart – my level of investment has jumped up significantly, in for a penny, in for a pound. There was a little profit but it is difficult to see on this chart.
I am so excited to watch this grow.
If you are thinking about joining me check out my FREE guide, it might help in your decision making.
Check in next month to see how I’m doing and what I change.