EvenFi, a Socially-Conscious P2P Lending Site, Launches its Mobile App
EvenFi is an Italian peer-to-peer lending and investment platform devoted to helping local businesses, particularly small and midsize enterprises (SMEs). It's also one of the most eco-friendly p2p sites, regularly listing green projects like solar-paneling development, hemp-based textiles, and environmental clean up. Unlike most p2p platforms, which list loans from outside sources (loan originators), EvenFi originates its own loans. Companies seeking loans can contact EvenFi directly to apply for a loan, and once the loan is approved, the project is listed on the site's Marketplace, where the platform's users can invest in the project and earn passive income from the interest.
The company generates loans ranging from as little as 10,000 euro all the way to a stunning 5,000,000 euro. The precise interest rate depends on the nature of the loan and the credit-worthiness of the borrower, with rates ranging from 4% to 12%, and the duration ranging from 1 month to 60 months (5 years). On average, investors earn 8% IRR, net of risk, meaning, after all fees, defaults, and other negatives have been accounted for. Investors interested in making a difference can look for projects marked with a small leaf-shaped icon. That icon indicates the project is impactful, whether ecologically, socially, or educationally.
The New Mobile App
In keeping with their goal to continually improve the user experience, EvenFi recently released a mobile app, on which users can conduct all p2p-related activities. The app is available for iOS and Android, with both versions offering a sleek user interface and a long list of features. Via the app, users can create an account, deposit money, peruse the marketplace, invest in projects, and monitor their portfolio. In fact, users can do everything associated with the platform via the app, and never need the desktop version. In terms of security, the app can be set to open via the phone's facial recognition or fingerprint sensor, thereby preventing anyone else from entering the app, even if the phone has been stolen.
EvenFi's Mobile App for Android
Android users can download the Android version of the EvenFi mobile app on the Google Play store. There's a link to the app near the bottom of EvenFi's homepage. The download is free, and at only 190 MB, it won't take up too much space on your phone. Once you've downloaded the app, follow the instructions to register, after which you'll get started with the KYC process. If you do not want to set the app to open via fingerprint or facial recognition, you can use a 2-factor authentication via your email account, instead. The interface is available in Italian, English, and Spanish, with more languages on the way.
EvenFi's Mobile App for iOS
Like the Android app, there is a link to the iOS version on the EvenFi website. The iOS version is free, and requires only 31 MB of space. However, the app is only compatible with iOS 11.0 and up, and if you're using it on a Mac, you will need the Apple M1 chip or better. Once you've downloaded the app, you'll be able to set up your account in under 5 minutes. To be sure, you'll still need to complete the KYC process, but once that's done, you'll be in a position to invest via the app, anytime, anywhere. You can even set up push notifications regarding new investment opportunities and about your portfolio.
Market Type
Business Loans
Average Returns
7.4%
Minimum Investment
EUR 20
Signup Bonus
No
Registered users
20,000
Total funds invested
EUR 36 Million
Default rate
Undisclosed
Regulating entity
Comisión Nacional del Mercado de Valores
Buyback guarantee
Secondary market
Payment methods
MangoPay
Withdrawal methods
MangoPay
In this detailed review, P2PIncome's financial experts assess EvenFi.com, an Italian crowdfunding platform that emphasizes social impact in addition to profits and gains.
Conclusion
The fast pace of modern life has made the cell phone our most useful tool. It's no longer merely a tool for communication, it's how we manage our lives. We use it for shopping, for mapping out trips, for purchasing train tickets, and even for investing. EvenFi understands not everyone has time to sit at the computer to study the marketplace, so they've brought the marketplace to you. Take advantage of this opportunity to download the app, register an account, and start earning a passive income on EvenFi.