PeerBerry review
7.5
(our review)
In our latest review, PeerBerry scores an 7.5. It is one of the largest peer-to-peer platforms in Europe. For this review, we created two accounts and invested in different loans. We found the platform easy to use, with a fairly stable and high return on the loans. However, transparency is lower, partly due to the absence of an ECSP license.
Content:
Note: online investing through PeerBerry carries risks, and you may lose (a part of) your investment
What characterizes PeerBerry?
Founded in 2017 as a peer-to-peer (p2p) investing platform, PeerBerry has financed over 3 billion euros in loans. It issues loans in many countries worldwide, with the largest portion going to European borrowers from countries like Poland, Lithuania, and Spain.
In terms of users who invest large amounts, the top 3 is formed by Germany, Spain and the Netherlands. On average, investors earn a return of 11-12 percent on the platform.
For this review, we created the account via a laptop and then tested the mobile app. PeerBerry is often compared to peer-to-peer platforms like Mintos Debitum and Bondora.
Invest via Mintos, Europe’s P2P leader with 11.62% average return, or Freedom24 for top-rated bonds (B+) with 6% yield, starting at 1000 euro. Investing involves risks. You can lose your investment.
Creating an account
Creating an account on PeerBerry is straightforward. You can register through the mobile app (for Android and iOS devices) or online. You will need a camera (such as the one on your mobile phone) and an ID document to create an account.
After setting up an account with your email and a chosen password, you must provide your name, date of birth, address, and phone number. You are then prompted to activate two-factor authentication via an app on your phone, though this can be skipped during registration.
Next comes the verification process. By scanning a QR code, you can complete this step on your mobile phone. You scan your ID and take a selfie. Afterward, you need to wait until it has been verified.
Once your account is approved, you can transfer money to the platform and start investing.
PeerBerry usability
Registration is pretty easy. The platform is offered in German, French, Spanish and Dutch in addition to English, and the interface is user-friendly. Unfortunately, PeerBerry does not support Apple or Google Pay, requiring a manual money transfer. You may also need to wait a while for the funds to appear in your account.
Once your balance is topped up, you can really start. The platform feels reliable, and investing is easy, both on mobile and via the online dashboard. However, if you are new to investing, it may take some getting used to.
Automatic investment in projects
For investments, the platform displays the goal, interest rate, and term, along with the flag of the country where you are investing. These are the primary selection criteria for most investors. You can review all projects, but unless you are well-versed in European p2p loans, you are likely to rely on the platform’s own credit checks. PeerBerry provides a convenient Auto Invest feature for this purpose.
With the Auto Invest feature, you can choose a scheme or set your own selection criteria. You can filter by loan originator, interest rate, and region. You can also specify the maximum amount to invest per loan and whether to keep part of your funds available.
Manual investment
Most investors use automated investing, which means that new loans are often funded quickly. If you choose to invest manually, you can typically only select from remaining loans, often with lower interest rates. If you want to know more about the investment, you can click on the loan number for details on the borrower and repayment schedule. For real estate loans, additional information about collateral or renovation plans is also available.
Selecting the right loans can be challenging. There is always a risk of losing your investment. It is important to either make informed selections or maintain a well-diversified portfolio.
Customer service in English
PeerBerry offers customer service via phone, online chat, Telegram, or email. Most international platforms use English for customer service. We did not try any other languages here.
For this review of PeerBerry, we asked questions in English through chat and email. They respond quickly between 8:00 am and 4:00 pm CET, Monday to Friday. Questions after business hours are answered on the next working day.
Offerings
PeerBerry is a large p2p platform with loans from various countries. It does not issue loans itself but works with loan originators—financial institutions or companies that provide loans to consumers or small businesses, often with local licenses.
You can receive updates about each new loan via the Telegram channel of PeerBerry. This reveals that new loans are added daily, but due to the large number of investors with Auto Invest strategies, most loans are funded before they become available on the platform itself.
Within and outside Europe
PeerBerry is active in Europe, but growth is mainly coming from outside the region. It recently added two new loan originators in Argentina and Peru, Lendi and Credito365, both part of the Aventus Group. These offer short-term loans with returns of around 9 percent.
Most loans come from Kazakhstan, Moldova, Lithuania, Romania, and the Philippines. Interest rates vary by loan, but are typically between 9 and 11 percent. The number of new loans appears stable and overall volume remains solid, but growth has slowed in recent years.
Aventus Group
The largest loan originator is Aventus Group, which also founded PeerBerry. Aventus operates in 18 countries across Europe and South America, making it the largest online lender globally in terms of geographic reach. It also works with a large number of other institutions.
Fees
The platform does not charge fees to investors. PeerBerry receives its income from the fees loan originators pay to list their loans on the platform. As a new investor, you can receive an extra interest rate (a welcome bonus of an extra 0.5 percent for 90 days after registration). Afterward, you receive loyalty bonuses based on the total investment amount in your portfolio.
Reliability and risks
PeerBerry was founded in 2017 and has grown into one of the market leaders in the p2p platform space. Its track record and volume have been strong so far, but the structure is less transparent than that of regulated crowdfunding platforms. It does not have an ECSP license.
No ECSP supervision
PeerBerry offers business and real estate loans through partners (loan originators). You do not invest directly in a single project or company, but in claims on loans issued by different financiers. This falls under a P2P model, not crowdfunding. As a result, a uniform European framework like ECSP is missing.
This is legally allowed, but oversight and supervision are limited. Definitions of default, LTV or return can differ. For loans outside the EU, you also have less visibility on local laws, collateral and enforcement. You need to rely more on both the platform and the originator.
Buyback guarantees
For most loans, PeerBerry offers a buyback guarantee (100 percent) if it is clear that the borrower does not repay. It is important to know that this guarantee is not provided by PeerBerry, but by the partner. PeerBerry itself does not guarantee loans.
The partners are often solid companies, but they usually do not have a banking license and not every partner is equally strong financially. The buyback guarantee sounds reassuring, but it does not guarantee that you will not lose your investment.
Criticism on returns
Repayments are sometimes delayed, and these delays are not always accounted for in the reported return. Another drawback, according to reviews, is that there may be longer periods with few or no investment options, sometimes resulting in high balances without returns. These factors can impact returns for most investors.
Review score: 7.5
In our latest review, we rate PeerBerry with an 7.5 out of 10, making it one of the platforms we regularly use. If you seek higher returns than savings offer, but do not favor the price fluctuations of stocks or options, then the relatively stable interest income from PeerBerry’s peer-to-peer loans is an attractive option.
With a potential return of up to 10 percent, supported by solid credit management, PeerBerry’s p2p loans are a compelling choice compared to other investments. The Auto Invest feature allows you to automatically spread your investments across many loans.
Drawbacks of PeerBerry include limited liquidity, as it lacks a secondary market. While there are sufficient loans with short terms, sometimes less than 30 days, loans cannot be resold midway. Additionally, loan delays are common, though buyback guarantees offer relief after a 60-day delay.
