FundQuest is promising to help investors get their money working harder than they do.
The company has a range of investment products for different types of investors in Nigeria, while promising competitive interest rates.
But is FundQuest worth investing in? Should you diversify your investment with this investment company?
In this review article, we’ll look at what FundQuest is offering investors, their pros and cons, and if they are a good bang for the buck.
What Is FundQuest All About?
FundQuest is a Financial Services company in Nigeria that offers tailored intermediate services.
The company aims to bridge the gap in financial services between the major banks and small and medium scale customers.
They claim to be licensed and regulated by the CBN as a finance company, and has been in operation since 2012.
How Does FundQuest Make Money?
FundQuest makes money from profits via its financial service offerings.
Apart from banking and investment, FundQuest also offers personal and business loans, leases, and asset financing.
How to Invest in FundQuest
To start investing with FundQuest, you’ll need to download their mobile app, register an account, and do your KYC.
Once you’ve registered an account, you’ll be assigned an account number where you can deposit your capital towards investment in a range of investment products.
How Much ROI Does FundQuest Offer?
The ROI you get from investing with FundQuest varies by the investment product you’re investing in.
The company however claims in their advertising that you can get as much as a 15% ROI per annum.
You could start investing with a minimum of 50k Naira for a minimum of 3 months to 1 year investment tenure, depending on the investment product you choose.
Is FundQuest Legit or Scam?
The company looks legit as far as I can tell.
They made the list of CBN licensed finance companies as of October 2020; which at least proves their regulatory compliance.
Their products and projected ROO are also reasonable and in line with market rates.
What I Dislike About FundQuest
Nothing much to dislike about FundQuest, as a traditional financial services company in Nigeria.
However, their product offerings are somewhat fixed and give little room for flexible investment.
Tenures are tied to ROI, and any attempt of withdrawal before maturity will lead to loss or discount of ROI.
I’d have liked to have a flexible investment option, even if it comes with a lower ROI.
But I understand that FundQuest needs to have the investor tied due to their projected use of funds for other revenue bearing interests.
What I Like About FundQuest
The good thing about FundQuest is that they have varied investment products for almost all kinds of investors.
They have products for small scale investors starting at 50k Naira, and large scale investors starting at 50 million Naira.
They also have plans for low-risk investors looking for guaranteed passive income, with their fixed interest investment products.
So, there are many options for different investor types.
Can You Lose Money With FundQuest?
It looks unlikely.
FundQuest is offering a host of stable investment products that bring returns for investors.
While some of their Investment plans come with guaranteed returns, others come with varying returns depending on a set of conditions.
You might need to do more research on the company to gain better clarity on this issue.
Should You Invest in FundQuest?
Not a bad place to start if you want to keep your money working and yielding income for you.
The question is what ROI can you get from FundQuest for the type of portfolio you’re willing to invest in?
It’s best you first talk to the company to know what you can get before investing your money.