Debitum Network keeps on growing and it is reflected by both increasing number of investors, deposits, invested money, and new functionalities added on our platform each month. We want to take you through some stats for the month of February, and introduce you to recently enabled functionalities on our platform. Stay with us and see how numbers reflect positive growth in all the major areas.
People onboard our platform every day. The number of users grew by 10% in February, from 1471 to 1618. The platform launched last September with 556 users in the first month. In a six month period, the number increased by 191%. It may not seem spectacular, but the growth is steady and this raises our expectations for exponential growth by the end of the year.
Anybody who wants to test our platform can register and look through various functions, check assets, financial info about companies that borrow and a lot more. You are not obligated to deposit or invest. Registration takes under a minute.
The total amount of deposits soared by 45.6% from the month of January, when it stood at 366,724 Euros to 533,824 Euros in the shortest month of the year – February. We expect a much bigger rise in deposits in the upcoming month due to an increased number of users and an auto-invest feature, which is used more and more by investors on the platform. All in all, deposits increased from September to February by an astounding 1,383%.
We want to remind that investors can deposit flexible amounts on the platform. The minimum deposit is 50 Euros from SEPA accounts (deposits can also be done in British Pounds (GBP) from local accounts, and US Dollars (USD) from US-based accounts). The Minimum investment amount is 10 Euros. There is no limit for bigger amounts. All investments are done in Euros.
There has been a record-breaking increase in invested money on the platform in the month of February. 463,810 Euros were invested in various industries last month. From 280,358 Euros in January, it is a 65.4% rise. From last September to the end of February, that is a 3,469% growth in investments. Taking into account, most recent numbers, it is natural to expect the tendency to remain strongly positive. It took 5 months for Debitum Network platform to reach 1 million of Euros in investments. We expect to reach the next milestone of 10 million Euros way faster. Investors can take advantage of auto-invest function to reinvest principal and earn interest to be able to earn compound interest over the long run.
The popularity of industries changes every month on our platform. There is a lot of dynamics as assets are short term and with the introduction of new loan originators, we may see various shifts in industries. TradeBacking loan originator onboarded our platform on the 25th of January and started uploading their assets. Most of them were from the Wholesale industry. The assets from the industry stood in the 3rd place in popularity among investors in January but jumped to the 1st place in February. 41.5% of all invested money was in Wholesale industry assets. We did the promotion of the industry last month and investors reacted positively by investing heavily in the assets. Interest rates for Wholesale assets were the highest ones among all industries in February too.
Auto-invest feature was introduced around Christmas season last year and started gaining popularity through the months of January and February. The number of investments using the feature tripled last month from 12,189 Euros in January to 37,063 Euros in February. That is 8% of all the invested money in February. Investors still give preference to manual investing, but compound interest possibility will eventually push the percentage of auto-invest usage up.
Occasionally, a borrower is late with the repayment. In that case, he has 15 days of grace period, when he still has to pay principal and interest, but no penalty. If he is late more than 15 days he will have to pay what he is due, plus a penalty. As of last week, an investor can see what the penalty rate for each asset is, in case a borrower is late with the repayments. An investor will get a share from the penalty rate set by the loan originator who has issued that specific loan. Below is an example from our asset list with annual interest rate and penalty rate for each asset.
Those that need to have a detailed summary of their account activity from the beginning till the ending date, including ongoing transactions, deposits, withdrawals, interest earned and etc. can download it now. Whether they want to review the entire investment period, specific investments, scrutinize for accuracy or simply use it for tax purposes, we have it for you. Investors can get their account report by pressing the ‘Account Statement’ button in the ‘My Investments’ form.
This will pop up a ‘Tax reporting’ window. Select date: from…to… and click ‘download xls’. Save it and you have your tax report.
Debitum Network platform has been live for around half a year. We look back and are amazed to see how much we have been able to achieve in such a short period of time. We are grateful for everybody who contributed to our growth and invite those who want to try innovative P2P lending platform for themselves to register right away. Every month we generate bigger volumes and upload more assets, new loan originators will be onboarding soon. With that comes new opportunities for investors to make compound interest by investing and reinvesting in short term loans. Do you want to try? You can leave any time you want.
If you haven’t joined the platform yet, we invite you to do it now.
Disclaimer: Investments in financial products are subject to market risk and any investment should only be done with risk capital. The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.