ArchOver Reviews 89

Archover have been a great source of debt for our business as we grow. In addition their approach during the covid-19 crisis has been first class and way more grown up than banks.
Thanks Will
Alastair Scott

Archover put time and effort into understanding our business model and strategy and were able to see the value and security in investing in us. Rates might seem high, but that reflects the fact that we are not a natural fit with traditional lenders; and we are getting tremendous value out of our relationship with Archover in the freedom it gives us to keep driving growth.

A very friendly and easy-to-work-with team! The loan funds were provided within days after the application was completed. Monthly monitoring was done through the ArchOver platform and by email. After recently receiving the expected R&D Tax Credit funds, I can only recommend the service to other company's aiming to get an advance on their expected R&D Tax Credit claim.

Been investing with Archover for quite a while now (3y+?) and always the experience is simple to me and clearly explained. No defaults, interest paid regularly - rates v good. I will continue until something goes wrong - and there is no indication so far of anything like that happening.

Last year I invested £7,000 on the loan to a company name 'Prospect Business Centres' the total loan amount of the loan is £500,000 and the company went busted in January 2020. The Administrator sold the company and got only £100000,more than £60000 went to the other creditors, the Archover investors only got £33,400 as their shares of the debts owed by the borrower so with my investment of £7,000 I only got paid back £152 plus the £689 from the paid interest as a result, I have totally lost £6,159. What I am trying to say is that Archover claimed they have the borrower assets secure to the loan and the value of the borrower's asset would be enough to pay off the debts if the borrower was to go busted, it proved that that is absolutely untrue.
I have now learned a lesson and here to warn those who are considering to invest through Archover to think again.

Wing Chan

I've been investing with Archover for about 15 months and have found them to be efficient and professional throughout that time. I would have no hesitation in recommending them to anyone who is considering investing in the peer-to-peer lending market

Unfortunately I cannot be as positive as some of the reviews here. This is because I invested £15,000 in one of the borrowing companies over a year ago it seems the directors of this company pulled the wool over Archover and have completely defaulted on all repayments.
Since then Archover have put out the occasional updates on their attempts to recover these funds which I suspect amounts to a very significant amount of money lost but without success so far.
I have therefore lost confidence in their vetting procedures and when my current investments crystallized I will not be reinvesting
UPDATE 26.3.2021
Still waiting for my money 18 months on meantime another company has defaulted leaving me nearly £10000 further down...you couldn't make it up

So far a superb platform generating me returns well over 7%.

I get to manage risk and diversification; information supplied is excellent and the service from Archover staff fast and responsive.

This is the future of small company finance.

No defaults so far (fingers crossed). Payments always prompt and loans seem to be vetted carefully.

A steady flow of investment opportunities in high-paying secured loans. After two years I have not yet had any defaults. A recent improvement on the website has been the option to receive interest payment notifications on a monthly basis rather than be flooded with individual payment notifications.

One of our business interests has recently used Archover to bolster its working capital requirements. We found their service to be flexible and extremely solution focused. We have no hesitation in recommending Archover to other businesses.

We recently used Archover to raise some additional working capital to support our fast growing business. Whilst our client offering is simple the reality is that our business is complex and layered. The Archover team took the time and the effort to understand us properly and it was something we appreciated. Importantly, this approach gave us as much confidence about them as they were seeking from us, and has created a strong bond for more commercial interaction.

We have subsequently recommended them to other businesses looking for pro-active lending and will continue to do so.

Went to Archover when needed funding for business growth and traditional bank lenders were not prepared to help. For a growing business the interest only loan was a life saver!

A straightforward, easy and quick process, not over the top like some, that delivered the funds when we needed them. Yes there is subsequently continuous monthly review but this is to be expected.

We have subsequently had some blips along the road and Archover have been very accommodating, provided we kept them in the loop.

We've had a great experience as a borrower with Archover over the last 18 months and three raises. The Archover team work collaboratively with you to find solutions. The interest rates are high (10.5-11%) though with interest-only loans we've been able to borrow less than we would have done elsewhere.

We have a company loan through Archover which we have had for several years and recently renewed.
We have found the Archover team a pleasure to work with. They are as thorough as you would expect when assessing and approving any borrowing, but a very experienced and pleasant team to work with.Their ongoing systems and processes are very user friendly and take up little time each month.
Highly recommended!

Very pleased with Archover
Best P2P lender available

I've been using Archover since Jan 2017 and have lent over 30 times to companies on the platform. I'm giving 5 stars on the basis that the customer support, who I've contacted many times, are fast, helpful and responsive and the platform has been regularly improved (including taking up some suggestions I've made). In other words, it is a genuine company doing its best to lean and improve. There have been a few niggles and I'd give 4.5 if it were possible - but it's nearer 5 than 4.

I note that the negative reviews here relate to loans that have defaulted in some way. I don't think that should affect the rating here unless the reviewers think Archover is dishonest, incompetent or negligent. I have seen no evidence of that.

The recipient of one of my loans was effectively taken over by Archover, but I haven't lost any money here so far. I do some amateur due diligence on what's in the public domain before loaning to a company, but of course that information could be false, incomplete or misleading and I'm not an expert. Some I've avoided because I've seen 'red flags'..

On occasion, I've asked Archover to find out some additional facts where I've had concerns (eg about directors) and they have done that. But there's a reason these loans pay interest in the region of 8-10% - the risk is commensurately higher than a bank deposit paying 0.5-1%, say. The companies concerned may have failed to get loans from banks, or the banks may have asked for a much higher rate of interest to reflect their risk assessment (and their desire for profits).

You shouldn't be lending here if you can't take a loss (same as buying shares - and you don't blame the stock exchange for Thomas Cook going out of business, if you held that stock). I regard all P2P loans and bonds as gambling (as is most 'investment') and I set rules: my total loans will not exceed 5% of my total financial assets, and my loans to a single company will never exceed 0.2% of my total assets. I hope I don't lose anything but it wouldn't ruin my life if I do.

The most annoying aspect to me is that many loans repay early - in one case after 4 months of a 24 month loan. Although your money is safe, you didn't get the interest you planned and need to reinvest the loan somewhere so extra hassle, and I don't feel Archover stress this sufficiently. The term of all the loans is variable so should be described as 'expected term' or 'up to 24m'.

I've recently had the pleasure of working with the team at ArchOver on a potential commercial venture, which involved getting under the skin of how their platform and business worked.

I was extremely impressed with every aspect of ArchOver, from the way that they manage their client relationships to the integrity of their business model - they really do have their clients' (both borrowers and lenders) interests at heart and operate with a level of scrupulousness and integrity that is refreshing in an age of reckless lending and borrowing.

One of my team immediately set up an account with them as a lender following our meetings and I will have no hesitation in doing the same as soon as I can enough free capital to invest.

I wish more companies were as skilfully operated as ArchOver and would recommend them unhesitatingly to borrowers and lenders alike.

Very happy with the ArchOver service. The interest rates are very good and the online platform is easy to use to bid on projects. The team is very helpful and can be contacted through the website which is a great function. They have an excellent proven track record and deal in large amounts so you can always be sure to get involved in their investment opportunities. ArchOver is an excellent addition to any investment portfolio

A simple website that works well. Clear information on where you can invest your money and good returns, backed by assets etc.