P2P Lending Review MoolahSense
My first foray into P2P loans was with Moolahsense.
The loans listed are very risky with attractive yield which was what got me into the P2P lending space in the first place. However, P2P lending is pretty risky and I quickly learned my lesson on platform risk when the platform does not perform due diligence on the loan and also does not bother about defaulted loans.
I quickly lost 20% of my investment value due to defaults. Now, I am only looking to taking the rest of my investment out.
On MoolahSense, i made a total of 23 different loans, and 8 of them were defaulted/ not fully paid off. All of the loans with MoolahSense have already matured since last year and there is very low chance that I could recover any remaining loans.
Total Deposit: $1k and loss $227 after 3 years of investment.
I would definitely not recommend anybody to invest in MoolahSense and avoid them like a plague. You can find other review here which would also be similar to what I have experienced on this site.