Risk levels and interest levels are both on low end of the spectrum compared to other P2P lending options.
Signing up is easy and the platform is easy to navigate.
October is selective in accepting applications and default rates are low. However, there is no buyback guarantee.
Average returns of 5-6% are low relative to other peer to peer platforms
October offers loans with low-medium risk levels but also not the highest returns in the market. Although other P2P platform can offer more value for money, due to the stability of the platform and the opportunity to support local SMB businesses in Western Europe, we do recommend to include October in a diversified portfolio.
.If you are considering investing through the platform, we recommend using this October review to assess how reliable and secure October is for investors.
October, formerly known as Mendix, is a French platform active in four markets: France, Spain, Italy and the Netherlands. October focuses on business loans for SMB (Small and Medium Businesses).
Founded in 2014, October has facilitated over €265 million in loans to date and paid out over €15 million in interest payments to investors. October investors have historically received an average 5.8% return on their investments..
The registration process for October is easy and straightforward. The platform is well-designed and navigation is intuitive, making it an easy platform to understand and start with.
Once approved, you can start investing immediately. You can lend to companies from France, Italy and Spain. You choose directly which project you wish to lend to and you decide the amount, ranging between 20€ to 2000€.
To review how safe October is to invest in, we consider the reputation of the platform and the available loans.
October is a reliable platform with a good reputation and low default rates (below 3%). October is very selective in accepting loan applications, they only accept less than 1 on 100 projects submitted.
October applies strict selection and recovery processes, limiting the overall risk profile. However, they do not offer a buyback guarantee or provision fund, and also no secondary market to allow for early exit.