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Image Credits to Fundko.com

Whenever I open my Facebook and Instagram account, I always see the advertisement of Fundko To the point that it already piqued my interest to see what is this all about.

One of the advertisements that did catch my attention is a video of a young man sharing his experience and telling that he is able to have a passive income with Fundko
https://www.facebook.com/fundko/videos/2051127741822632/?t=0

For sure all of us wants to know, or at least have a passive income in the future so I check the website and the platform further.

 

 

What is Fundko?

FundKo is an online peer-to-peer platform which serves as an intermediary between borrowers who want to avail of a loan, and investors who want to earn potential high returns for their money. - Fundko.com

 

It follows the same concept of lending money to a friend or relative or even someone that you do not know but via online. On a personal experience peer to peer lending isn't that okay for me because the people who borrowed money from me back then either left the company, blocked me on Facebook or they just forgot about their debt.

It is also ironic that I myself is a top collector back then able to force other people to pay for the outstanding bill but in real life, I am having a hard time on that. One key factor is because I do know the person or they are a friend that is why it is hard to say NO.

You can either be a lender or a borrower on the website. If you are planning to start investing on the website here are some of the basic stuff that you need to know.

 

• The minimum amount of investment is P 1,000 however, to maximize your earning potential they suggest that you invest at least P 15,000.
• Funding the borrower's loan is done manually, therefore, the lender needs to make sure that he/she is sure that they do want to support that.
  • Usually the loan request range from gadgets, tuition fees, home improvements, travel, and business. Hence you will need to think thoroughly about whom you will invest your funds with.
• The money is not insured.
• Legal and foreclosure of collateral may proceed if the borrower will not be able to make payments and after liquidation, funds will be back to the lender's account.

Not every day you will be getting payments that are the same as Fundko. They do suggest that you can try to invest at least 10% of your money to a single borrower, the maximum is 20% though but as in any investment scheme does not put your eggs in one basket you will need to diversify.

 

Is it really advisable to invest in Fundko?

On a scale of 1 to 10, I will go to 6 or 7 . There are other investments that you can try like Life Insurance, Mutual Funds, and Stocks. You can also try Farmon @smaeunabs wrote a short blogpost about it.

It is not because I do not trust the website but it is more on basing on my experience as a collector people would like to borrow money but paying it is a different story. If you already secured the following then I would say go give it a try and who knows maybe it would work for you.

Returns of Investment isn't that sure since the money is not insured and if your borrower got delinquent and on default legal stuff, foreclosure and liquidation of assets takes a lot of time and patience.

How about you? Have you tried investing in a crowdfunding or thinking of doing it as an alternative in your investment? I'd like to hear your thoughts about it.

 

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