The Best Award-Winning Peer-to-Peer Lending Platforms
From the Oscars to the Grammy Awards, from Michelin Stars to the Pulitzer Prize, industry recognition is one of the ways we determine which products to consume. A restaurant with Michelin Stars is going to attract a lot more attention than those without, and a Pulitzer Prize winning columnist will attract more readers. While the peer-to-peer lending industry has yet to found and promote such prestigious awards, there are some industry commentators who grant recognition to the better sites. In this detailed article, the financial experts at P2PIncome review sites with proper bona fides that might entice you to invest in the p2p market.
Iuvo Group
The unusual name actually tells us a lot about this peer-to-peer lending-and-savings platform. The term "iuvo" is Latin for "to help," and according to CEO Ivaylo Ivanov the name conveys the company's ethos: to assist clients seeking to invest and save their money in the simplest and most effective manner. With a 100% buyback guarantee on all investments, returns averaging over 9%, an easy-to-use auto-invest tool, a high-yield savings program, and a built-in currency exchange, it's no surprise Iuvo has attracted the attention of major players in the industry.
Founded in Estonia in 2017, Iuvo quickly gained the attention of the influential Forbes Magazine. In 2017 Iuvo took 3rd place in the Forbes Best Start-Up race for 2017. Over the next 3 years, the site began to post impressive numbers, taking runner-up at the AltFi People's Choice Awards for 2019, and then winning the prestigious Forbes Best Company 2020 title in the finance category for 2020. Between 2017 and 2022, Iuvo grew rapidly, bringing in over 30,000 investors and funding over over 250 million euro in total investments. Today they have established themselves as one of the top platforms in the industry.
Investors with deep pockets can take advantage of Iuvo's loyalty programs: Gold and Silver. The programs don't require any application or approval beyond opening an account. Simply deposit and maintain a balance of 10,000 euro to join the Silver program, and 25,000 to join the Gold. Each program comes with special benefits: The Silver program offers investors faster processing time on deposits and withdrawals, a loyalty bonus of of 1.5% on future deposits, lower fees on the secondary market, and more. The Gold program offers advanced notifications on new listings, zero fees on the secondary market, invitations to special events, and prioritized auto-invest actions.
In addition to its lending platform, Iuvo operates a high-yield savings plan called iuvoSAVE. Users interested in an aggressive savings program can deposit funds into iuvoSAVE and earn as much as 6% for a period of 6 months. There is also a long-term savings program with a 4% yield. The minimum deposit is only 100 euro, and you can continue to deposit funds at any time. The site even provides users with a gains calculator so they can estimate the growth of their money over time.
Swaper
Swaper began as a subsidiary of Wandoo Finance, one of Eastern Europe's largest and most successful loan originators. Surprisingly, it was unable to make much headway in its first few years, and was eventually bought out by financial wizard Marina Tjulinova, who took on the role of Head of Operations and brought in Indrek Puolokainen to serve as CEO. Since then, Swaper has gained tens of thousands of investors, drawn hundreds of millions of cumulative investments, and expanded to new markets.
Swaper boasts some impressive awards. In 2019 they were awarded Best European P2P Loan Platform by Wealth & Finance International, a highly influential online quarterly covering banking, finance, fintech, cyber, and other related fields. That same year, Swaper received the BankingCheck.de Best Crowdfunding Platform award. In 2020 Swaper was again recognized by Wealth & Finance International, winning the Best Loan Marketplace Platform.
Swaper focuses on short-term consumer loans, the majority of which come to term within 30 days. The loans are originated by Swaper's former parent company, Wandoo Finance. There are no fees for any actions taken on the platform, including the secondary market. All loans are listed at a fixed 14% rate, and are protected by a 100% buyback guarantee. Users can open accounts in euro of British pound, and users who maintain a balance over 5000 euro (or the equivalent in GBP) are eligible for a 2% loyalty bonus.
Swaper also offers one of the best mobile p2p apps available. The app gives you total access to your account, including vital statistics like your account balance, gains and profits, and your auto-invest settings. Adjust those settings as you see fit, view current listings, and even withdraw funds from your Swaper account to your personal bank account.
Market Type
Consumer Loans
Average Returns
8 - 10%
Minimum Investment
EUR 10
Signup Bonus
None
Registered users
36,000
Total funds invested
EUR 370 Million
Default rate
8%
Regulating entity
Estonian Financial Supervision Authority
Buyback guarantee
Secondary market
Payment methods
Bank Transfer, Trustly, Paysera, Revolut, TransferWise, ePay
Withdrawal methods
Bank Transfer
Iuvo is an award-winning P2P and personal-savings platform based in the Republic of Estonia and regulated by the Estonian Financial Supervision and Resolution Authority. The platform is well-funded, and works with several loan originators to market personal loans ranging from 1000 to 2500 EUR.
Market Type
Consumer Loans
Average Returns
14 - 16%
Minimum Investment
EUR 10
Signup Bonus
None
Registered users
6000
Total funds invested
EUR 400 Million
Default rate
Undisclosed
Regulating entity
Self-Regulated/EU Compliant
Buyback guarantee
Secondary market
Payment methods
Bank Transfer
Withdrawal methods
Bank Transfer
Swaper only offers auto investing in unsecured consumer loans in Poland and Spain. Swaper is a subsidiary of Wandoo Finance Group, a loan originator that also services the loans on Swaper's platform. Swaper advertises a 14% IRR and premium investors who have invested over 5000 EUR receive an IRR of 16%.
Verdict
Iuvo and Swaper are both excellent p2p platforms. The minimum deposit for each is only 10 euro, which means anyone can invest money on these sites. Both sites offer attractive interest rates, with Swaper's being a touch higher than Iuvo's. There's no reason an investor can't diversify by putting money into both sites, but if you must choose just one, our recommendation is Iuvo Group. For one thing, Iuvo facilitates several payment methods, while Swaper only works with bank transfers. Furthermore, Iuvo's savings program is an excellent tool for growing your liquidity. Lastly, the Iuvo loyalty programs and bonuses are a touch more generous.