January 2020

Monthly review January 2020

Me as i found out the truth about Envestio

The shit hits the fan…this was really a bad month, FIRE wise! As most of you allready know 2 crowdlending platforms turned out to be scams, and maybe more to come in the future!!

I was hit hard and lost 8100 euro😱

I am rethinking my approach to investments, going for a simpler and less risky plan. I also have some concerns that i need to address and act upon.

Here is 3 platforms that i consider as scam:

  1. Kuetzal. I had transferred 3000 euros to Kuetzal, but not invested any of them, due to the projects offered, they simply didn’t appeal to me, luckily.. Bad news started to appear in the crowdlending community, and when the CEO did not show up to a scheduled meeting with Jorgen Wolf, i decided to withdraw my money. I had to invest 100 euro before withdrawal, due to some money laundry regulations, so i could only withdraw 2900 euro. I was one of the last to get money from Kuetzal…  Here a some links to read if you are interested, but long story short; Kuetzal was a scam! https://financiallyfree.eu/concerns-about-kuetzal-is-kuetzal-a-scam/ https://www.crowdlendingrocks.eu/why-i-do-not-invest-with-kuetzal-scam-incompetence-or-just-too-many-red-flags-here-are-my-concerns/ https://savings4freedom.com/my-p2p-lending-investment-portfolio/kuetzal-analysis-review-2020/
  2. Envestio. Envestio was actually one of my favourite platforms, high yield, payments always on time etc. So i increased my investment on Envestio to 10.000 euros😱. Shortly after my money transfer, Envestio got a new owner and a new COO. The first looks like a homeless guy and the COOs appearance on Youtube was horribible, to say the least. This was not a guy i would trust my money, so i started with withdrawing my free assets, 2000 euros.
I just dont think he looks like the right person to own a company in which i have 8000 euros.

Amd i dont think this guy seems the right for…well anything.

All this in one month! So here is my thoughts, concerns and future plans:

At the same time i wrote a short article here on my blog:   But i didnt react, not even to my own words, how stupid is that!! Turned out that Envestio was a huge scam as well, stealing millions of euros from investors, including my 8000 euros. More to read; https://explorep2p.com/envestio/ https://www.p2p-banking.com/countries/baltic-millions-at-stake-in-envestio-case-investors-calling-for-answers/ http://www.buyyourfreedom.dk/2019/12/20/new-coo-in-envestio-troubles-ahead/

3. Better globe. I came across Better Globe shortly after starting my journey towards FIRE, and from the start it struck me as a scam. I found the founder not trustworthy, and a quick Google search confimed that. I find the multilevel marketing strategy awfull, and i am disgusted by the fact that they appears to be “saving the world” , making people invest their money. A danish media wrote these 4 articles about better globe:    https://www.zetland.dk/historie/sOz9z6BJ-aekdaa3R-986ad https://www.zetland.dk/historie/sOMVQ91X-aekdaa3R-5818b https://www.zetland.dk/historie/s8l4zrWg-aekdaa3R-c8732 https://www.zetland.dk/historie/s8qDz9YR-aekdaa3R-1f88b
Bets case is that Better Globe is a fantasy project, making naive people invest and take part in their multilevel marketing, worst case is that Better globe is a 100% scam. I find the last scenario the most likely. I have not invested in Better Globe.

Crowdlending has definitely some cons; it is rather time consuming if you want to keep an eye on your investments, and even more if you want to diversify into several platforms, and this is a rather big con for me, since i am going sailing and therefor not will be able to check upon investments all the time. It is risky business, and apparently much more than i thought, i was not prepared for actual scam. So i am definitely decreasing my investments in crowdlending, at least for the time being. Read more about my plans for each platform below.

My stocks are doing really well, so well that their increased value covers my loss on Envestio and Kuetzal. I have increased my investments in stocks, and will continue to do so.

I consider taking a loan in the new house after refitting it, increasing its value. I can get a loan at 100.000€ for just about 2% a year, all included. For now a have enough cash to invest, so if i take a loan, it will be be in a couple of months. Investing for borrowed money? Is that a clever idea? I am not sure..

Lets go through the platforms


Still my favorite platform, and the one i trust the most. I had 20.000 euros here, but have now sold some of my loans and stopped my autoinvest. I will withdraw money for a period of time. Everything runs smooth, i am able to sell loans and withdrawel takes only 1-2 days. I am not using the I&A anymore, i like to be able to choose for myself.


I really like Grupeer, but i would like them even more, if they got a secondary market. I have stopped my autoinvest, but it takes a long time to get enough free assets worth withdrawing. This is due to long term loans and no defaulted loans activating the buyback. I have 12.000 euros on Grupeer, and without the secondary market i think this is to much.

Fast Invest

After my bad experience with Envestio and Kuetzal i decided to get all my funds out from Fast Invest. To many red flags for me, all though i never had any problems with them. I sold all my loans, losing my profit on these loans, and made a withdrawel. It took almost a week before the money was home and safe, this is not good enough when ex Mintos only uses 1-2 days. But i got it all back with an overall profit of 59€.


Well, not much to write, i lost it all. I wish a had reacted when i heard about the new COO and new owner, or at least when i wrote my own blog post!!

My hope is that the responsible for the scam will soon be behind bars for a very long time, i might even consider going there for a visit, telling the jack asses how sweet freedom is😜.


I wish i hadn’t so much money on Crowdestor. Not because of any bad roomers or experience, they just remind me to much of Envestio, and i don’t like having such big amounts on each project without, or almost without any security. I have to say i was drawn by the high interests, or in another word; greed. On crowdestor there is no way to sell your part, so i will just cross my fingers and hope for the best. For now, i am not investing further on Crowdestor.


I have stopped my autoinvest and will withdraw some of my money soon.


I have stopped autoinvest and sold some of my loans, planning to withdraw it all, only because i prefer other platforms over Viventor.


Well, same as for Envestio; may their asses itch and their arms be to short!


I had 6000 euro invested for a short period, but sold almost everything and withdrew. They have had late payments on several projects, so i didnt want to take the risk. I have to say it was really easy to sell and withdraw. I still have one project there, 465 €.

Lessons learned the hard way, but actually i have no regrets, besides reacting to slow on the Envestio news. 

Several people have had a wonderfull time on the expence of Kurtzal and Envestio investors, calling us “stupid”, “dumb ass fuck” etc. The same people will feel bad when you have succes, and i really find it pathetic; why not feel good about other peoples succes and be empatic for their loss?

The greatest risk is the ones never taken.

Here is my summary on crowdlending. As you can tell, i allready forgot about the 8100 euro lost😄, its time to move on..

The horrible numbers for my crowdlending in january.

Besides the horror and scam, i am satisfied with my crowdlending income this month. 13% is quite all right. I expect higher yield next month from Crowdestor, Viventor and Crowdestate. Peerberry will perhaps be a tad higher, but Mintos and Grupeer will probably not; they are allready performing well.

My stock portfolio on Nordnet is doing very well. Actually so well that the increased value exceeds the loss on crowdlending.
Besides the monthly payment (50.000kr/6.700 euro) i added some additional funds, bringing the ammount of invested funds to 168.000 euro. In future blog posts i will add some more tabels and numbers about my stock portfolio.


Not much to tell, things are just like last month, no further investments. We are not sure what to do with the new house when we leave Denmark. After the renovation it looks like we can earn 40-70.000 euros in a sale, getting us 140.000-170.000 € in the hand to invest. On the other hand could we rent it out and make a profit on that. Either way we are going to make a nice profit on the house. Nice😊

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