Fast Invest Basic Review

Name: Fast Invest

Ticker symbol: FIT

Project type: Platform, Investment, Banking

Extended company description: Fast Invest is a platform for P2P investments, with an annual return of 8% to 15%, providing a wallet for electronic money, currency exchange and payment cards. [1]

Company: FAST INVEST GROUP OÜ

Website

Whitepaper

Public ICO launch: 04.12.2017

Public ICO end date: 31.01.2018 [2]

Crowdsale duration (weeks): 8,3

Token type: ERC-20

Token supply: 777 000 000

Tokens available for purchase (Pre-Sale + Public ICO): 388 500 000

The purpose of attracting investments: [2]

1 FIT price: 0.001 ETH

Accepted payments: ETH

Bounty: The program starts on December 4, 2017.

Token role: Functional

Team (number of people): 50

Advisors and partners (number of people): N/A

GitHub: https://github.com/Fast-Invest

Twitter: Posting: 55, Subscribers: 2222

Telegram: Subscribers: 860

Medium: Posting: 21, Subscribers: 32

Linkedin: Subscribers: 24

Facebook: Subscribers: 1623

Youtube: Posting: 8, Subscribers: 16

Fast Invest is a platform for P2P investments with an annual return of 8% to 15%, providing a wallet for electronic money, currency exchange and payment cards. [1]

Fast Invest is launching a blockchain platform that offers its clients the opportunity to lend and invest in consumer loans issued in European countries; the platform also allows basic daily banking operations by combining fiat and crypto currency: Lending, borrowing, investments and payments.

Fast Invest will provide the following services: [2]

  • investment (loans, real estate, private capital and others);
  • the ability to borrow
  • currency conversion
  • making transfers and payments
  • tool for auto-investment and reporting
  • crypto-secure crediting
  • a limited number of crypto accounts payment cards linked to accounts, including crypto accounts (with free card issue for the first 1000 crypto accounts)

Founded in 2012, Fast Invest has been in business for 5 years. [34]

Partners:

Marketing:

Growmodo - A service for search and use of digital marketing services;

Emerging Insider - PR and marketing services.

WolgangDigital - Digital marketing and SEO agency.

Jivochat - A tool that enables monitoring and communication with customers on websites, Facebook, Telegram and Viber in real time

Mail chimp - A platform for automating marketing

Money conf - An online place where people who determine the future of finance meet

Opineo - Online marketing services provider

Trustpilot - A service for writing reviews

Cision - A service for marketing campaign analytics

Media:

inwestycje, pymnts, the Fintech Times, Finanse Fakty

Other:

Kalkulator

Investments attracted: N/A

There are experienced specialists involved in the Fast Invest project. [3]

Strengths of the project:

  • a functioning business with an established clientele and database
  • the project has a fairly large pool of partners in marketing and media
  • the high-growth P2P-crediting market was chosen
  • the project integrates blockchain technology into its existing platform with 8000 users [2], [Telegram];
  • according to a representative of the project, the platform will gain more extensive functionality (payment cards, investment in real estate and other assets.)

Weaknesses of the project:

  • The chosen market niche is characterized by high competition, which can disturb the development of the project.
  • The business model has a risk of less than the planned token demand being met, which may negatively affect token price.

According to Statista, the volume of the world P2P lending market (the target one for Fast Invest) amounted to $64 billion in 2015. Based on the diligent indicator of Combined Annual Growth Rate (CAGR) from Statista (56%) and Technavio (53%), we expect that potential market will be over $152 billion by the end of 2017 (the market volume is expected to grow up to $1 trillion by 2025 [Statista]). [29]. [30]

As we see from the white paper, the alternative finance market has gained significantly worldwide. The project team estimates its global market (P2P lending) as $3.5 billion (according to 2013 data) and its volume will be about $1 trillion by 2025. [2]

Comment: As we see from a brief analysis, the P2P lending market is growing at a high rate, so the project has a great opportunity to occupy its niche in this market. A clear advantage of the project is that the white paper describes a marketing campaign for the commercial development of the product. The project’s intended market is growing dynamically. Inevitably following the market, the number of platforms providing peer-to-peer lending services is increasing.

In the course of our research we have identified the following competitors in the field of P2P lending: [2]

Lendoit - A platform that implements P2P lending

LoanBit - Credit and investment, multicurrency multifunctional online platform based on blockchain technology.

In addition, we can specify the following companies:

Polibius - A cryptographic blockchain bank.

Everex - A platform that enables making payments in cryptocurrency and exchange microfinance services.

Suretly - A crowdvouching platform which allows users to earn commission by providing paid voucher services.

WeTrust – A platform for the provision of financial services.

MarketInvoice, BankEx, Lending Club, SALT, BTCJam, LoanBase, Bitlendingclub, BTCPOP, GetLine, BM Chain, Bitbond, Dharma, ITTEX, Kiva, Karma.

Resume: The main difference between the Fast Invest platform and its competitors is the availability of a wider functionality (payment cards, real estate investment and other assets).

Currently, the project has an online platform which is used by over 8,000 people daily. Fast Invest intends to integrate blockchain technology into the platform in order to operate with cryptocurrency. [2]

Description of the current platform:

  • Certified credit institutions sign a partnership agreement with Fast Invest.
  • Fast Invest credit risk departments approve the conditions of the Lender which owns a license issued by local Central Bank as a financial services operator.
  • A borrower pays out monthly payments under the terms of the loan agreement and payment schedule.
  • A lender transfers a payment to Fast Invest; the borrower's payments are distributed proportionally in accordance with the amount invested in this particular loan by each investor.
  • As soon as the borrower repays the loan, customers will begin to receive payments of both the principal amount and interest for this investment period. The funds are automatically transferred to the accounts of Fast Invest clients.
  • The user can reinvest these funds into any available credit or request a payment directly to his bank account.

In addition, the team offers users:

  • A digital wallet for making payments and transfers;
  • A mobile app for iOS and Android;
  • Paid cards for sending and receiving funds, withdrawal of funds.

 

Technology description

The platform is built on the basis of blockchain technology using smart contracts based on OpenZeppelin. [2], [31], [32]

To check a borrower for creditworthiness the team will use a machine learning system to process up to 10,000 characters. This allows evaluation of a potential client in less than thirty seconds and determination of credit risk. Metadata technology will be used.

Comment: Investment operations on the platform are accompanied by the functions of buyback and guarantees of payment, so users can stop investing at any time and get their money back. Even in the case of default on the part of a borrower, the user will receive the necessary payments. We also want to point out that Fastinvest is a functioning business since 2015; therefore, there is a basis for the platform: client accounts, credit base, etc. [2]

 

Technological Roadmap

In the future, with the development of technology and data capacity it is planned to implement the following: [2]

  • Q1 2018 - development of a mobile application for Android and iOS;
  • Q3 2018 - creation of premium accounts for the community of FIT token holders, introduction of cryptocurrency, integration of digital currency exchange tool v2.0
  • Q1 2019 - introduction of premium payment card
  • Q2 2019 - implementation of digital investing service
  • Q3 2019 - introduction of digital lending service

Comment: The team has detailed plans for developing the platform. In addition, the presence of a large number of technical specialists can help the completion of all updates on time.

There are no active blocks in open repository.

- ico.

Comment: - ico is a newly created module (December 1, 2017) (dedicated to the ICO). The repository belongs to Fast Invest.

We have analyzed the Fast Invest website and documentation for sufficiency and consistency for making an investment decision.

The documentation includes the white paper, privacy policy, user agreement and complaints procedure. The white paper is presented in English. In the submitted documentation, Fast Invest is described in sufficient detail. However, the technical component of the platform and its services is not fully disclosed.

The website also provides information about the project, staging the public ICO, frequently asked questions and the team. The website is available in English, Polish, Finnish, German, Spanish, Italian, French and Chinese. An additional useful feature of the website is the availability of links to and information about the current operating platform. [1]

Resume: The documentation enables a comprehensive view of the project.

Public ICO launch: December 04, 2017

Tokens to be released, % 50%

Token type: ERC-20

Accepted as payment: ETH

1 FIT cost: 0.001 ETH

Crowdsale period: 8 weeks, until January 31, 2018

FIT tokens will be the only way to use a Fast Invest Crypto account; to access all cryptocurrency services you need to hold 1000 FIT.

Token issue limit: 777 000 000

Advantages of token holders: functional tokens which allows using the platform services or sell them.

Maximum planning amount of profit: ~$175,000,000

Minimum planning amount of profit: ~$17,500,000

Bonus: 20% Early bird bonus (bonus is valid only up to Soft Cap (38,850,000 FIT tokens). [1]

Comment: The project is planning to list FIT on global exchanges. [2]

 

Bounty

Link: https://bitcointalk.org/index.php?topic=2515633.0

Scheme of interest distribution by program: The program is open in the following areas:

  • Twitter
  • Facebook
  • Youtube
  • Blogs
  • Translation
  • Telegram

Resume: The project has an extensive bounty program. All the conditions of the program are detailed at the link above. Terms of remuneration will be announced after the ICO.

 

Tokens and capital distribution

Tokens and capital are distributed according to the following scheme:

Resume: Tokens do not affect the distribution of shares in the company. The incentive system is set up such way that it is more profitable to buy tokens earlier.

The team provided the following roadmap: [1]

Q2 2018 - opening a North American headquarters, entering the United States and Canada markets [2]

Q4 2018 - opening a Hong Kong headquarters, entering Hong Kong and China markets

Q2 2019 - opening a Singapore branch, entering Asia markets

According to the project, in order to gain access to a platform account, it is necessary to keep 1000 FIT in the wallet [2]. In this case, to activate all tokens sold at the ICO, they will need to register 338,500 accounts. Based on the data on platform traffic ["Marketing» section], we believe that there is a risk of not achieving this many registered users right after the ICO. This can negatively affect the price of the token.

Resume: The roadmap presents a strategy for scaling the project. In addition, according to the white paper, the team has developed a marketing campaign that is aimed at partners, market participants and users.

The following activities are planned to influence the audience:

  • for partners: organization of events, exhibitions, conferences, offers for building a joint marketing campaign
  • for market participants: organization and participation in events, publications in journals
  • for users: webinars, event organization, blogging, publication of articles, cooperation with universities and students, content creation, viral marketing.

The business model of the project contains the risk of not getting planned token demand which can negatively affect token price. [2]

The team consists of 50 people. Information about the main team members based on LinkedIn is as follows:

Genadij Anthony FOMKI (N/A) - President and Chairman

Simona Vaitkune (LinkedIn) - CEO, board member of BIG CREDIT as of January 2017 (a fast lending platform)

Paulius Tumosa (LinkedIn) - CTO since 2015. Previously: programmer at Reservation partner LT (e-commerce projects development), NWO Invest; Senior programmer at Taupkasė (Credit Union)

Dovile Zili (LinkedIn) - Marketing Leader. Experienced specialist in marketing and entrepreneurship. Previously, she was responsible for marketing at Stansefabrikken (metal processing), JSC Aveplast (building materials), founded the project for decorating the interior with text - Odi Odi, owned the business in the development of e-commerce - EFOR GROUP

There are 24 more people in the team.

Resume: The project has a large team. Unfortunately, not all members of the team were found on LinkedIn, which does not contribute to the confidence of the community. The team is predominantly from Lithuania and the UK. The company has the following departments: Finance, legal issues, marketing and product development, software and IT, user support, regional development. There are no dedicated specialists in the field of blockchain technologies but one third of the whole staff is technical staff.

Information about the project is available on Twitter, Facebook, Telegram, BitcoinTalk, Medium, Reddit, Instagram and YouTube. There is a Bounty program.

The project is working on social media. Twitter, Facebook and Medium regularly update news. The team leads a blog and uploads videos on YouTube. The format of the articles about the project shows that they were written mainly by order.

Comment: There is growing interest in the project from the community. The basic marketing campaign is set on Twitter and Facebook. [1]

Analysis of website traffic based on Similarweb.com data showed the following: [6]

Comment: 57.80% - direct link, 18.65% - referrals, 21.72% - search

Traffic through search: 5.14%, including: 59.68% - "organic" traffic, 40.32% - ad clicks (this indicates that the buzz around the project is created mainly through advertising, not due to the popularity of the team or partners).

Referral links: 18.65%

Traffic source (Alexa.com): According to Alexa.com, the number of page views is 42,120 per month and the number of visitors is 10,529 people. The website is most popular in the US, Germany, Poland, Australia, Ireland and Russia. [33]

Resume: According to the available data, it can be concluded that users are interested in the project. The team conducts an advertising campaign on social media (Facebook, Twitter and Medium), uploads videos on YouTube about platform work and interviews with team members, communicates with users on Telegram. There are publications in the media.

The developers may be contacted using the links below.

Website

Twitter

Telegram

Medium

Reddit

LinkedIn

Facebook

GitHub

Bitcointalk

YouTube

 

 

The information contained in the document is for informational purposes only. The views expressed in this document are solely personal stance of the ICOrating Team, based on data from open access and information that developers provided to the team through Skype, email or other means of communication.

Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud.

We appreciate feedback with constructive comments, suggestions and ideas on how to make the analysis more comprehensive and informative.