Fast Invest is a decentralized lending platform that allows users to invest in issued consumer loans across European countries.
The company has been in operations since 2015. With an existing presence in the U.K., Italy, Lithuania, Estonia, and Poland, the company is now embarking on a blockchain enabled global expansion. The platform already offers a basket of loans, 8,500 daily customers, and the participation of 21 certified lenders and clients from 36 countries. How it works is simple; lenders in Fast Invest have a basket of loans to invest in that return much higher rates than banks offer.
We recently sat down with the CEO of Fast Invest, Simona Vaitkune to have a chat with her about the project as well as finding out her thoughts and insights.
Thanks for joining us today. Can you tell us more about yourself and Fast Invest?
I am Chief Executive Officer of Fast Invest, my mind and life are dedicated to this company. I know every detail in the company, everything about the working system and all the processes. I have two types of degree, one of them is in arts, I am an academic painter for classical art, I grew up surrounded by art, and I love it till this day, it helps me to be creative as well develops patience and discipline. The second is in Europe Business Management and Economics. As well I had studied IT courses before I founded Fast Invest so I understand the building of the website. With all this knowledge now I am leading Fast Invest, living every day dedicated to this company.
Fast invest is a platform where people invest in issued consumer loans. All the loans are protected by Default and BuyBack Guarantees which means that you can get your investment back whenever you want and if the borrower is late with his repayments the Lender will cover every late repayment. As well you can start investing from 1 Euro, Zloty, Dollar or Pound.
First off, why did you decide to use the blockchain in expanding Fast Invest? What was your thought process behind it?
At Fast Invest, we have a desire to be an innovative FinTech company. So looking around as watching latest innovation we decided to expand our system – to add blockchain technology into our system. The blockchain is a safe, transparent, stable and most important fast platform which is so desperately needed in our society because financial operations these days are very slow.
Tell us about how you came up with the idea of Fast Invest. Did you face a problem within the industry or do you think there is a gap in the market for Fast Invest to fill?
Everything started when I wanted not only to save money but to earn from my savings, to get passive income. I began to search for a platform which would fit me, but I could not find anything because I wanted to do it easily and safely without investing a lot of money. After doing this research, I saw an opportunity to create something new, and during the development of the project, we saw that a lot of people have savings and wants to get passive income, but they do not invest because of the complexity and large entry points of the investing platforms. That is how Fast Invest was born an easy, innovative and available for everybody investment platform.
What do you think is the biggest problem Fast Invest will solve and why is the problem important to solve?
Fast Invest is solving a problem that I mentioned before – complexity and large entry point of investment platforms. With Fast Invest, you can start investing from 1 Euro, Zloty or Pound. On top of that, you do not need to worry about your money, because we offer BuyBack and default guarantees. To add more, you do not need financial education because we offer a user-friendly platform with auto invest opportunity witch simplifies investing process and safes time for the investors.
After the Fast Invest token crowdsale, we are going to adopt cryptocurrency in our platform and expand our services to the blockchain. This will enable us to merge Fiat and cryptocurrency all into one investment platform.
Fast Invest seems to have a fairly straightforward identification process. Why did you decide to move on with this step and how do you prevent frauds or scams from happening? Are there additional security measures that you have in place to do so?
To start investing in our platform you do not need any verification. Registration is simple should not take more than 5 min, you add funds and start investing.
Three steps verification for Fast Invest platform users it is necessary if you want to withdraw your funds. Firstly, the user has to confirm their phone number and e-mail. Before payout application client must prove their identity by sending a copy of identification document. This kind of identification process is needed only for our P2P investment platform.
As well we have additional anti-fraud security measures. Each client can make payments only in his/her name to their personal bank account. Our monitoring system checks clients activity log, all cases that look suspicious are sent to our security department for further inspection. We are committed to ensuring the privacy and security of our client’s information.
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Fast Invest – Crypto-enabled Loan Investments Across Europe
Peer-to-peer lending that leaves out the big banks as intermediaries has the opportunity to disrupt Euro financing. Peer-to-peer (P2P) lending platforms have disrupted American financing. That is old news. What is more interesting is the impact of such platforms in Europe where big banks have long dominated the entire loan-initiation
