Best Peer 2 Peer Lending Sites in 2022

Peer to Peer Lending

Disclaimer: This post may contain affiliate links, but is 100% honest and unbiased. I donate 20% of blog profits to charity.


Last Updated on April 1, 2022 by Carl Jensen

It’s now been six years since I started investing in European peer-to-peer (P2P) lending sites in 2016. I guess it’s time for a 2022 update comparing the best platforms out there.

The crowdlending scene has changed a lot in six years. Back in 2016, only a handful of platforms existed. Now there are hundreds of platforms, and it is hard to navigate for both new and experienced investors.

Since I made the first comparison, many things have changed:

  • I have discovered many new promising platforms
  • I am still investing in my favourite platforms
  • I have lost money on some platforms
  • I am growing increasingly sceptical towards a few platforms

Honestly, I couldn’t find any good comparisons of the peer-to-peer lending platforms in Europe. Given my experience using many of these platforms, I thought I would give it a shot.

I’ll now present an overview of all the best P2P lending platforms in Europe based on my first-hand experience with them. I will rank them according to my preference but remember you might have other preferences than I do. Remember, this is not financial advice and do your own research.

Which P2P lending platform is the best in Europe in 2022?


The following list shows the best European P2P lending platforms in 2022 based on my experience. I have used a mix of credibility, size, functionality, and support as criteria for ranking these platforms – as well as the word on the street from other investors in the personal finance sphere.

Rank

Platform

Avg. annual return

Total funded loans (EURm)

TrustPilot Score

Visit

1

9.9%

7356

2

11.1%

819

3

14.8%

14

4

11.3%

452

5

11.6%

320

6

11.0%

285

7

9.0%

53

8

9.5%

38

9

15.7%

86

10

10.0%

909

11

14.2%

68

12

12.0%

130

13

9.9%

158

14

7.8%

504

15

14.0%

253

16

14.0%

82

Want to know more about the best P2P lending platforms in Europe?


If you are curious about why I have ranked the sites the way I have, read on. Each of the platforms has certain advantages and disadvantages. Further down the list, I have included some sites that I am avoiding. If you can’t get enough crowdlending sites, I have included a few newcomers at the very end.

#1 – Mintos


#1

Origin (Founded):

Latvia (2015)

Funded loans (cumulative):

7,356 EURm

Average annual return:

9.9%

Loan types:

Personal, business, agriculture, invoice, pawnbroking, car, and mortgages

Buyback guarantee:

Yes

Autoinvest:

Yes

TrustPilot Score:

Normally, you get an exclusive 0.5% bonus on your investments made in the first 90 days by signing up using the link above. Currently, you can register to get on the waiting list to join. From February 4, 2022, Mintos is pausing all sign-up bonuses until later in 2022 due to a new regulatory certification.

Mintos is my favorite crowdlending platform. There’s simply no way of getting around Mintos when you speak about P2P lending in Europe. They are by far the biggest player, and that’s not a coincidence. The platform is excellent with a full range of advanced functionality. Mintos have thousands of available personal and business loans with +20 loan originators and keep adding new ones every month. I have kept on increasing my investment with Mintos over the past two years and have achieved a pre-tax return of 11.86% to date, which I consider good. I have also tested withdrawing some of my money from Mintos and it worked flawlessly.

I believe Mintos is the best crowdlending platform in Europe overall – especially if this is your first investment in P2P lending. During the COVID-19 pandemic, I have noticed that interest rates have been slightly declining and I also hear other investors reporting that some of the other platforms offer higher returns. I guess this is expected from a big, established platform, and the same trend has been visible for American platforms such as LendingClub.

Check out my detailed Mintos review here

#2 – PeerBerry


#2

Origin (Founded):

Latvia (2017)

Funded loans (cumulative):

819 EURm

Average annual return:

11.1%

Loan types:

Personal, Business, Real Estate

Buyback guarantee:

Yes

Autoinvest:

Yes

TrustPilot Score:

PeerBerry was one of the newest entrants when I first started investing in P2P lending. Since then, they have grown extremely fast to become one of the largest sites in Europe.

PeerBerry is part of the Aventus Group that has more than half a million customers, and it has some muscle power behind it that other platforms don’t.

PeerBerry offers consumer loans from more than 10 different loan originators (which is better than most) and has a beautiful platform fully equipped with a buyback guarantee, autoinvest, and no currency risk.

The main drawback of the site is that it mostly has a short duration on its loans. While PeerBerry offers better interest rates than Mintos, there are still alternatives with higher returns in Europe. Lastly, the platform does not offer instant withdrawals which can be a disadvantage for some despite the short loan durations.

#3 – Reinvest24


#3

Origin (Founded):

Estonia (2017)

Funded loans (cumulative):

14 EURm

Average annual return:

14.8%

Loan types:

Real estate

Buyback guarantee:

No

Autoinvest:

No

TrustPilot Score:

Reinvest24 is a platform that has surprised me recently. I only have limited experience with the platform, but so far, the returns are amongst the best I have seen at nearly 15% on average.

The platform has the best TrustPilot ratings of any P2P sites I have looked at with a 4.8/5.0 average rating. The platform has a good user experience with a simple and straightforward investment process.

The difference from many other platforms on the list is that the loans are exclusively within real estate. Also, it is one of the smallest platforms on the list concerning funded loans. I have usually observed that interest rates decrease as platforms grow bigger, so maybe it’s a good time to get in.

Reinvest24 does not offer a buyback guarantee or an autoinvest function which are the only drawbacks of the platform. Is it important? I personally prefer an autoinvest function, but buyback guarantees are becoming less important for me these days.

#4 – EstateGuru


#4

Origin (Founded):

Estonia (2013)

Funded loans (cumulative):

452 EURm

Average annual return:

11.28%

Loan types:

Real estate

Buyback guarantee:

No

Autoinvest:

Yes

TrustPilot Score:

EstateGuru is another player only focused on real estate loans. The platform has been around for nearly a decade and is a much larger alternative to Reinvest24, but with lower returns at 11.3%. Looking back a few years they have managed to maintain the interest rates at fairly high levels without dropping too much. I see this as a positive sign.

EstateGuru has a very intuitive customer interface and the loan information is highly detailed. Also, it has a great hands-free autoinvest feature. However, there are no buyback guarantees nor a secondary marketplace.

Despite not boasting the highest returns, the platform has great reviews on TrustPilot and more than 100,000 investors.

#5 – Robocash


#5

Origin (Founded):

Latvia (2017)

Funded loans (cumulative):

320 EURm

Average annual return:

11.6%

Loan types:

Personal

Buyback guarantee:

Yes

Autoinvest:

Yes (no manual investing possible)

TrustPilot Score:

Robocash is a platform that has surprised me more than any other. When I first reviewed the platform in 2019, it was at the very bottom of my list. The loan offerings were limited, customer service was unreachable and the website didn’t look too good. Fast forward to today, and Robocash has grown to become one of my favorite and one of the best-reviewed crowdlending platforms.

Robocash is focused on short-term personal loans, offers a decent 11.6% in average return, and has more than 320 EURm in funded loans. Robocash is fully automated meaning that you do not have the opportunity to invest manually. As someone who does not like to spend too much time on my investments, this is an advantage for me.

On the downside, Robocash only offers loans from one loan originator, has no secondary market, and has its headquarters in Russia, which for Europeans may carry higher risk.

#6 – ViaInvest


#6

Origin (Founded):

Latvia (2016)

Funded loans (cumulative):

285 EURm

Average annual return:

11.0%

Loan types:

Personal, Business

Buyback guarantee:

Yes

Autoinvest:

Yes

TrustPilot Score:

ViaInvest from Latvia has grown rapidly since its start in 2016. The P2P lending platform has funded more than 280 million EUR in consumer loans.

I have heard mixed opinions about ViaInvest, but there seems to be general agreement that the platform is nice with all the bells and whistles of buyback guarantee, autoinvest, and a secondary market. However, I have also heard people complaining about a relatively complicated sign-up and withdrawal process.

ViaInvest has grown to be one of the more established players in the field with decent returns at 11.0% and a TrustPilot rating of 4/5.

#7 – Debitum Network


#7

Origin (Founded):

Lithuania (2017)

Funded loans (cumulative):

53 EURm

Average annual return:

9.0%

Loan types:

Business

Buyback guarantee:

Yes

Autoinvest:

Yes

TrustPilot Score:

When I first reviewed Debitum Network, it was a relatively new European crowdlending platform from Lithuania. It has grown to become a more significant player promising global business loans with an average interest rate of 9%.

Debitor Network offers a buyback guarantee on its loans and an autoinvest feature. I have been in touch with their support a couple of times with some general questions and their replies have been fast and precise, which I take as a good sign.

The platform has had a 0% default rate, high transparency, and a good user interface. However, it offers no secondary market. All in all, I really like this platform – if only it had a higher average interest rate.

#8 – Profitus


#8

Origin (Founded):

Lithuania (2017)

Funded loans (cumulative):

38 EURm

Average annual return:

9.5%

Loan types:

Real estate

Buyback guarantee:

Yes

Autoinvest:

Yes

TrustPilot Score:

Profitus is one of the smaller platforms in the P2P sphere. However, it has gotten fairly good reviews, a decent amount of funded loans and fair average interest rates.

The platform only focuses on real estate loans and has a user-friendly platform. However, it does not have an autoinvest feature, a secondary market or buyback guarantees. The minimum investment is at โ‚ฌ100, which I find fairly high. I like to test platforms for smaller amounts than that initially.

If you are looking for a real estate P2P alternative to some of the larger platforms, Profitus could be the one.

#9 – NEO Finance


#9

Origin (Founded):


Lithuania (2015)

Funded loans (cumulative):

86 EURm

Average annual return:

15.7%

Loan types:

Personal, Business

Buyback guarantee:

Yes

Autoinvest:

Yes

TrustPilot Score:

You receive an exclusive 10 EUR welcome bonus if you sign up using my link above.

NEO Finance is hands down one of my favourite platforms. The reason is the unparalleled high average interest rates at 15.7%. Now, high returns usually come with high risk. It’s not different this time around.

NEO Finance has been around for many years and I consider it a relatively safe platform with high transparency.  This being said, the legal entity behind NEO Finance is not yet profitable which is always a red flag for me.

The platform is easy to use with buyback guarantees, autoinvest and all the bells and whistles. If you are in for some high risk/return, try this platform out.

#10 – TWINO


#10

Origin (Founded):

Latvia (2009)

Funded loans (cumulative):

909 EURm

Average annual return:

10.0%

Loan types:

Personal, Business, Real Estate, Invoices

Buyback guarantee:

Yes

Autoinvest:

Yes

TrustPilot Score:

For some reason, TWINO has never been part of my go-to platforms despite the fact that it is the second-largest P2P lending site out there. The platform has accumulated nearly โ‚ฌ1 billion in total funded loans since 2009 which is impressive.

However, over the years I have watched the company’s average annual return decline from the good old days with a 14% return to closer to 10%. TWINO only provides loans from a single loan originator (the TWINO Group), which is also a turnoff for me. This being said, they have a really cool easy-to-use platform.

TWINO used to have mediocre online reviews, but this has actually increased in recent years, so they must be doing something right. It is one of the platforms that have to be tried, but it is not top of my list.

#11 – FAST INVEST


#11

Origin (Founded):

United Kingdom (2015)

Funded loans (cumulative):

68 EURm

Average annual return:

14.0%

Loan types:

Personal

Buyback guarantee:

Yes

Autoinvest:

Yes

TrustPilot Score:

FAST INVEST used to be one of my favourite platforms – at some point, it was even in the top three.

However, even though they have maintained decent return rates at ~14% per year, I feel like the platform has not improved much over the years. Many of its competitors are further ahead when it comes to user experience and total funded amount where FAST INVEST “only” has achieved 68 EURm. In addition, the TrustPilot reviews are not too good even though my experience has been good.

Fast Invest’s platform is similar to Mintos and Grupeer in the way you sign up, invest and view your returns. The interface is beautiful and easy to understand.

Using the platform, you have the same bells and whistles in terms of buyback guarantee (they call it default guarantee) and autoinvest as on the other platforms. However, you don’t get a secondary marketplace. Instead, they offer you to liquidate your investments in one day, but you do it at the cost of your accrued interest. The loans are never longer than 12 months, so with a bit of planning, this should not be a problem.

The interest rates are slightly higher than Mintos and at the same level as Grupeer with loans ranging from 9-16% interest rates. My average interest rate on the platform has been +14% so far.

#12 – Lendermarket


#12

Origin (Founded):

Ireland (2019)

Funded loans (cumulative):

130 EURm

Average annual return:

12-15%

Loan types:

Personal

Buyback guarantee:

Yes

Autoinvest:

Yes

TrustPilot Score:

Lendermarket is one of the smaller platforms with 130 EURm in total funded loans. It offers decent interest rates at around 12-15% yearly and has OK TrustPilot ratings (although the number of reviews is fairly low).

Lendermarket is somewhat transparent and has decent annual reports that are informative if you want to do make your own due diligence. However, other publicly available information about the company is limited.

Lendermarket should be chosen for its amazing user interface and its high returns. In addition, you can get all types of loan durations combined with a buyback guarantee. On the negative side, it doesn’t have a secondary market.

#13 – Raizers


#13

Origin (Founded):

France (2014)

Funded loans (cumulative):

170 EURm

Average annual return:

9.9%

Loan types:

Real Estate

Buyback guarantee:

No

Autoinvest:

No

TrustPilot Score:

Raizers is focused on P2P lending loans for real estate in France, Belgium and Switzerland.

Raizers is very different from other platforms since it focuses exclusively on lending to real estate professionals with an average 21 months investment duration. I love the information available about each investment and the pictures of the projects you can invest in – it makes it a lot more tangible than on other platforms.

There is a minimum investment of 1,000 EUR which can scare away some investors. However, I believe it makes the pool of investors at Raizers more serious than other platforms which can be a strength.

On the downside, the platform does not offer a secondary market nor a buyback guarantee, and the average interest rates at 9.9% could be higher. However, all deals are audited by a team of experts in an AMF accredited structure. Raizers might be a good way to diversify investments away from the traditional P2P loans often provided.

#14 – Bondora


#14

Origin (Founded):

Estonia (2008)

Funded loans (cumulative):

553 EURm

Average annual return:

7.8%

Loan types:

Personal

Buyback guarantee:

No

Autoinvest:

Yes

TrustPilot Score:

Bondora, Bondora, Bondora. One of the oldest platforms available, but I have to be honest. I have never invested with them. I really like the user interface and the setup in general, and they are experts in marketing. However, the interest rates averaging around 7-8% are simply not worth the risk for me. I would rather invest in index funds then.

Bondora has excellent reviews on Trustpilot with a 4.6 average rating from thousands of customers. In addition, they have one of the largest total funded loans amounts in the industry. They must be doing something right.

I won’t spend much more time on the platform, but now you know it is there. If you want a platform that has stood up against the test of time and you are fine with 7.5% in annual interest, you can give it a shot.

#15 – Swaper


#15

Origin (Founded):

Estonia (2016)

Funded loans (cumulative):

267 EURm

Average annual return:

14-16%

Loan types:

Personal

Buyback guarantee:

Yes

Autoinvest:

Yes

TrustPilot Score:

Swaper is yet another platform from Estonia that has been on the market since 2016. According to Swaper, they have now funded more than 267 EURm worth of consumer loans at an average 12% average annual return, which is quite impressive. When I first covered the platform that number stood at 55 EURm.

The concept of Swaper is quite simple as all loans come at a 14% interest rate, but if you invest more than 5,000 EUR, you get an interest rate of 16%, which I consider a really good average annual return. Swaper also provides a buyback guarantee and an autoinvest function. If you decide to use the latter, make sure to set as many autoinvest strategies as possible, as you increase your chances of getting the loans when they become available.

The only drawback of the platform is that all loans originate from the same loan originator, Wandoo Finance Group, who is also the owner of Swaper. While I don’t know the financial condition of Wandoo Finance Group, I always like it when platforms have more loan originators to spread the risk of one of them defaulting. Lastly, the TrustPilot ratings are not excellent (but there are too few reviews to make a fair judgment based on this).

#16 – Bondster


#16

Origin (Founded):

Czechia (2017)

Funded loans (cumulative):

82 EURm

Average annual return:

13.9%

Loan types:

Personal, business, real estate

Buyback guarantee:

Yes

Autoinvest:

Yes

TrustPilot Score:

You will receive a 1% bonus from the increase of the volume of investments held within the first 90 days after registration if you sign up using my link above. The bonus for the investor will be calculated and paid out after 30, 60 and 90 days.

The last platform on the list is Bondster which was founded in 2017 in the Czech Republic. Bondster is a very promising platform, so don’t be scared that I put it last on the list.

The average annual interest at 13.9% is great, and they have more than 14,000 investors. The buyback guarantees, the investment strategies (with autoinvest) and the secondary market are all nice.

I have a few observations that have made me wait with investing until the platform has more traction. First of all, the total funded amount is still low. You get the feeling that it is a Czechia-first platform, which might put some non-Czech investors off. Also, the TrustPilot ratings are not many, but they are mediocre. Lastly, there’s a fee if you exit early, and the buyback guarantee changes from loan to loan.

How does the P2P lending market in Europe look and what should you look for when investing?


In recent years many new platforms have emerged, and it can be hard to separate the good, the OK and the scam sites.

In my list of the best European platforms, I have included 16 sites I believe to be good options for investors, but some are better than others.

First of all, the sites vary a lot in size. Below I have compared the platforms by their size of loans funded (cumulative) at the time of writing:

European P2P lending platforms by the size of loans funded (November 2021)
Million Euro 

As you will see, Mintos is by far the biggest European P2P lending platform with more than seven billion euros in loans funded (if you are interested, check out my in-depth review of Mintos here).

When you invest in crowdlending in Europe, it is not only important to look after size – there are a few other things to check up on before you get started:

  • How old is the platform?
  • Who is the management team?
  • How do their financial reports look?
  • Is it a single- or multi-loan originator platform? How many loan originators do they have?
  • Do they offer a buyback guarantee on your loans?
  • What is the minimum investment in loans?
  • Which loan types do they offer?
  • Do they have autoinvest functionality?
  • Do they accept investors from your country?

What is peer-to-peer lending and how does it work?


Peer-to-peer lending or crowdlending is the concept of people/businesses lending money to other people/businesses through online platforms. The platform matches lenders with borrowers but without the involvement of a traditional financial institution such as a bank. This allows lenders to get higher interest rates than lending money to the bank, and it also allows borrowers to get different terms than with a traditional bank.

The investor (or lender) typically transfers money to a crowdlending platform, indicating the risk level that he/she is willing to accept along with other investment preferences (time horizon, loan types, interest rate interval, auto- and re-invest, diversification, etc.).

The platform then matches the lender with borrowers and the loans are funded automatically within seconds. From here on, the lender can sit back and relax while interest payments come in as the loan is being paid off by the borrower.

Usually, the P2P lending sites are free to use for lenders/investors, and the sites make money on fees charged to the borrower that can be either one-time, yearly or a share of the loan amount.

In the list above of the best P2P lending platforms in Europe, I only include European crowdlending platforms that provide loans to people/businesses by people/businesses. For example, I do not include platforms that are not available to European investors or real estate crowdfunding sites in the list below.

What are the risks of investing in crowdlending in Europe?


When investing your money in any asset class there’s always the risk you might lose everything.

This is also the case for peer-to-peer lending on all platforms in Europe. I consider crowdlending very high risk and I don’t invest more than 5% of my net worth in it. I cannot stress enough that you should never invest anything in peer-to-peer lending unless you can live with losing everything.

When you invest in peer-to-peer lending, the three biggest risks are the following – and all of them are likely scenarios:

  1. The borrower of your loan cannot repay the loan and defaults
  2. The loan originator goes bankrupt
  3. The peer-to-peer lending platform goes bankrupt

The first risk is that your borrower defaults. On many platforms, this is mitigated by buyback guarantees, but on some platforms, it is not. If your platform does not offer buyback guarantees, make sure to diversify your loans and choose loans meeting your risk preference.

The second risk is that the loan originator goes bankrupt. This has happened more than once on Mintos, and I still have some investments in recovery. For example, when Eurocent went bankrupt. Mintos has +20 loan originators and there’s a risk one of them goes bankrupt. When this happens,  you might lose all your money, although normal bankruptcy procedures kick in and Mintos tries to recover as much money as possible for its investors. However, since then Mintos has become good at clearly indicating which loan originators have good ratings.

The third risk is that the peer-to-peer lending platform goes bankrupt. If the loan originator is the same as the peer-to-peer platform, this is essentially the same as the second risk. Now, this can be quite bad, and this is the one I fear the most. We haven’t seen how these platforms perform during a financial crisis (when all the borrowers start defaulting), but that will be the big test of crowdlending. If it happens, normal bankruptcy procedures will kick in and you might and might not get your money back.

Lastly, there is a risk of being scammed. Lately, the Envestio platform (which I invested in myself) disappeared overnight in what seems like a case of fraud even though I cannot conclude anything yet.

Do you see? Investing in crowdlending comes with risks (and there might be more than the three I mention above), but it also comes with very generous average annual returns, so for now, I’m taking my chances and enjoying the returns, but no one knows what will happen tomorrow!

Remember that everything written above is based on my experience and opinions – and you should always do your research ๐Ÿ™‚

53 comments

53 comments

Kenneth February 2, 2020 - 10:40

“PeerBerry is part of the Aventus Group”

Not any longer, right?

Reply
Carl Jensen February 6, 2020 - 21:31

To the best of my knowledge, they describe PeerBerry as an Aventus Group partner, so you might be right, although it’s a bit hard to see how they are connected.

Reply
Omar January 27, 2020 - 01:27

Hi Carl !
You know I’m a fan of your blog. I noticed that you just updated this page from last year, removing what was your third best p2p: Envestio, this without saying 1 word about the fraud.
I mean, I still like your blog, it’s just that people deserves to know what happened. People deserves to know that even if we think that x platform is reliable (on this case you and the positive feelings about Envestio), frauds are still real. I get that you don’t want to use the word “fraud”, fine. So why not mentioning “undefined unavailability of the platform and complete loss of contact with the staff” (doesn’t it sound like a fraud?)
If the blog were mine (of course it’s not) I would definitively have mentioned something like: “The top #3 for last year is not included on this table anymore because it’s just doesn’t exist anymore…” In any case, I would not have ignored it completely, I would not have done like it never happened. That’s the detail I don’t appreciate.
I mean: Bloggers like you are in a way, a channel to reach a lot of people and not only the good news and nice numbers should be shared, I consider that all the information should be shared so people (your readers) have the complete picture. That’s the detail, dear Carl.
Greetings.
Omar.

Reply
Carl Jensen January 27, 2020 - 09:59

Hi Omar,
Thanks for pointing this out once again. As I mentioned in the other post, I will write about Envestio when I know more.
I believe I always do a very thorough job of explaining the risks of investing in P2P lending – also in this post. I have updated that part to mention Envestio specifically.
Thanks,
Carl

Reply
Omar January 31, 2020 - 00:49

๐Ÿ™‚
Thanks for the update

Reply
Omar C December 15, 2019 - 20:03

Hi Carl.
As a frequent reader of your blog, I came here to check what you think about Crowdestor, but I didn’t find anything… What do you think about that platform? ( Personally I’m really tempted ๐Ÿ˜€ ) Thanks and Regards.
Omar C.

Reply
Carl Jensen December 16, 2019 - 08:26

I think it looks very interesting, but as I donโ€™t have any real experience with it, Iโ€™m hesitant to recommend it. For now, Iโ€™m not investing more in new P2P lending sites, but I might in the future ๐Ÿ™‚

Reply
Dominique November 18, 2019 - 08:10

Hi Carl,

Enjoy your site including the discussion.
But I am not an investor, instead i am a borrower.
Last year, i got investor from Indonesia to finance my order ($350,000) by 3 times disbursement. Its a maximum 6 months loan.
We are going to need a larger loan to cover our next order, i wonder if you can advise where can i get larger loan.
We have a guaranteed order and willing to pay higher interest than average.

Thank you in advance for your advise.

Reply
Carl Jensen November 19, 2019 - 17:19

Hi Dominique,

Iโ€™m afraid I donโ€™t know the lender side of the market, so I canโ€™t give you any solid advice here even though I would have loved to.

Carl

Reply
Marcel October 14, 2019 - 14:38

Carl, how do you send your money to Grupeer? Not sure how to get EUR to them as all my accounts are in DKK and I am yet to find a Danish bank that would let me open a EUR account…

Reply
Carl Jensen October 14, 2019 - 19:58

I transferred money using a bank transfer. You don’t need a Danish bank with a EUR account, you just need to make an international transfer in EUR from a DKK account ๐Ÿ™‚

Reply
Kenneth February 2, 2020 - 10:38

Why don’t you open an account with N26?

https://n26.com/en-eu/euro-bank-account

Reply
James October 12, 2019 - 08:37

Hi Carl, your information regarding PeerBerry is a bit inaccurate. They do accept me (an Indonesian citizen and resident). But I do have a Paysera account…

Reply
Carl Jensen October 12, 2019 - 13:42

Thanks for pointing that out, James! I have corrected it ๐Ÿ™‚

Reply
Mircea May 25, 2019 - 06:00

Hi Carl, just read your article and i have few questions for you
Why you think mintos is no1 in your list?… i mean letโ€™s compare with fastinvest… fastinvest has the option to sell back your investment and this platform will give you the money back in 1 day. I believe that nobody else has this option. 2nd market in most of cases is a dead end… Or… am i missing something?…

2nd question… i don t see Crowdestate on your list… where is it?… one year ago you did a nice review on them if iโ€™m not mistaking…

Reply
Carl Jensen May 26, 2019 - 15:45

Hi Mircea. Thanks for your questions!

1) Mintos is #1 on my list because they are largest by far (and in some way most robust), the diversification options are excellent across loan originators/countries/loan types, the functionality (incl. auto invest) is the most advanced out there of any platforms. I don’t invest with a short term perspective in mind, so I don’t need to be able to pull out the money in 1 day – and the secondary marketplace does indeed work and makes it possible to take out your money. Also, as far as I remember, if you take your money out of Fast Invest in 1 day, you lose all earned interest on that specific loan, so it’s not a great deal necessarily.
2) They are on my list of the best real estate crowdlending platforms here: https://www.moneymow.com/best-real-estate-crowdfunding-sites-europe/

All the best,
Carl

Reply
ThePoorInvestor May 19, 2019 - 23:24

Hi Carl,
I’m new to your blog. I can see you have given FastInvest the rank number 4. However, don’t you feel it is very risky to have money on a platform, who is not transparent with their loan origination. I have invested through FastInvest myself, but have come to a bout regarding this issue. What is your perspective on this topic?
Cheers, ThePoorInvestor

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Carl Jensen May 20, 2019 - 06:15

Hi ThePoorInvestor,

Yes, I consider everything related to P2P lending very high risk. This is why I never recommend investing more than 10% of your net worth in very high risk assets, as you might lose it all.

As for Fast Invest, transparency of loan originators is a concern I also address in my detailed review that I hope they will address later. However, since I diversify my investments across many platforms and never invest more than 10% of my net worth in high risk assets, I am not really concerned about it, although I understand why you could be if you donโ€™t do that.

All the best,
Carl

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Lawrnce April 30, 2019 - 01:27

Hi Carl,

Great article was very insightful. So much so I have been thinking of setting up a small platform myself. I noticed a lot of these companies are set up out of eastern Europe, is there some sort of edge setting up from there? What are the requirements for setting up a platform? I will appreciate any pointers I get

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Carl Jensen April 30, 2019 - 12:56

Hi Lawrnce,

Great question. I believe the startup and tech scene is flourishing in Eastern Europe. Particularly in Estonia and Latvia.

I donโ€™t know if itโ€™s easier to set up financial companies in those countries, but it might be. Regardless, I would assume you should follow EU regulation/guidelines too.

Good luck setting up a platform! ๐Ÿ™‚

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Slavcho Nenkov April 12, 2019 - 19:05

Hi, Carl, I have read carefully your review. I have a question about Bitbond: when I read their statemant I see 1% fee quarterly decalred. So, 4% per year. You write about 13% average annual return after defaults. Could you help me – what’s te explanation of this difference? Thanks in advance ! Slavcho

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Carl Jensen April 15, 2019 - 16:42

Hey Slavcho, I’m not entirely certain where you are seeing the 4%. Is that for their “Security Token Offering”? Because that is different from P2P lending.

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Slavcho April 15, 2019 - 20:35

Yes, Carl, you are right. It’s specifically for the security token …

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GOL April 8, 2019 - 11:39

Hi Carl, great blog. How i can find more financial data about these platforms for my research?

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Carl Jensen April 8, 2019 - 17:46

Some of the platforms publish annual reports (for example Mintos: https://www.mintos.com/en/about-us/investor-relations/), whereas others you will need to look up in company registries of the countries they are registered in using their VAT/company identification number.

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George Pitchurov April 1, 2019 - 22:06

Hi, you have an idea where to find financial data for Wandoo finance Group, the owners of Swaper?

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Carl Jensen April 2, 2019 - 21:53

You might be able to find it on local Latvian sites for the entity Wandoo Finance SIA (I would assume there’s an official registry where these can be found). The latest annual report I could find was for 2016 showing revenue of 350,000 EUR with a negative profit margin, but then again, it was their first year of operation.

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Mads March 13, 2019 - 17:49

Hi Carl! How is your experience regarding Grupeer? I like the platform (and the company behind), so I consider at the moment investing through Grupeer, but I would love to hear your experience ๐Ÿ™‚

Thanks.

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Carl Jensen March 13, 2019 - 21:53

Hi Mads,

I really like Grupeer – it’s a great platform (although Mintos is my favorite it is good to spread your risk) ๐Ÿ™‚

You can read my review of Grupeer here.

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Yves March 12, 2019 - 13:28

What about Funding Circle? Any experience with them? They are not in the Baltics (they have a platform for US, UK, DE, NL) and have funded 90 million EUR in 2018, growing fast (40 million EUR in 2017). Curious to hear your opinion. Thank you.

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Carl Jensen March 13, 2019 - 21:54

Hi Yves,

I must admit I don’t have the necessary knowledge about Funding Circle. I have not included it here as they are only focused on a limited selection of European countries, and I have not had a chance to test them myself yet. That being said, from my research on P2P lending companies, it is one of the more frequent ones I encounter online and I mostly hear good things about them, so you might consider giving them a chance! ๐Ÿ™‚

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Yves March 14, 2019 - 08:59

Hi Carl,
Thank you for your answer. I am giving them a chance. A good point with them is that the projects are within the country, i.e. the German website shows funding requests from German SMEs, the Dutch website from Dutch requests etc. compared to Mintos where I see requests from Russia or Eastern Europe, where you might have a currency risk on top of the other risks. The description of the projects is somehow limited (e.g. a cab driver in need of a new car) but relatively sufficient to make a decision. They provide financial data for the last two years of the companies. How they rate (between A+ and E) remains a mystery to me.

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MonkWealth January 26, 2019 - 00:43

Great post, Carl.

I’ll use some of your referral links.

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Carl Jensen January 27, 2019 - 14:56

Sounds great, MonkWealth! I’m happy you liked it.

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Meine Finanzielle Freiheit December 30, 2018 - 10:53

Congratulations, a great article and a great blog overall!
Regarding p2p lending platforms, I came to the same conclusion as you, i.e., Mintos is the best. I meanwhile concentrated my investments there. The article I wrote in 2017 where I still consider Bondora quite good is no longer fully accurate, as loan losses have meanwhile worsened my Bondora-performance. This is why I no longer trust Bondora
https://meinefinanziellefreiheit.com/2017/03/30/p2p-spieglein-an-der-wand/
All the best
MFF

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Carl December 30, 2018 - 19:55

Thanks! And yes, I also believe Mintos is the best platform, however, my average interest rate is declining there. Interesting to hear your thoughts on Bondora.

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Carlos December 22, 2018 - 21:35

Great blog!

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Carl December 23, 2018 - 04:40

Thanks! ๐Ÿ™‚

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Nikolaj December 21, 2018 - 15:30

Hi Carl.

I have been following along for some time. But… are you in fact invested in all these platforms? I seem to remember a comment from you this summer, where you mentioned you only invested through Mintos and were considering other platforms for the future. And for a few platforms on the list, I see you disclose that you have not invested yet, but it’s certainly not clear for all of them.

I just question your ability to make such a list, if it’s partly based on experience and partly based merely on facts from their websites. Don’t get my wrong, but at the moment it just seems like all european finance blogs MUST review P2P platforms while providing referral links… and apparently making nice money on it. And often I find, that the bloggers have limited experience with at least some of the platforms they refer to. And I think it’s problematic.

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Carl December 21, 2018 - 16:33

Hi Nikolaj,

Thanks a lot for your question. For transparency, I can tell you I have active investments on Mintos, Grupeer, Envestio, Fast Invest, Lenndy and PeerBerry. I have active and verified users (waiting to invest) on Swaper, Bitbond, October.eu and ViaInvest – all of which are platforms I have played around on. I have been in close contact with the Debitum.Network team and have a test user there. I have previously had first-hand experience with TWINO too, but don’t use the platform anymore. So to answer your question: Yes, I believe I am better able to make a list of the European P2P lending platforms than most people.

Don’t get me wrong, I understand your concerns. When I say that the post is ‘100% honest and unbiased‘ it is because I would put these platforms on the list regardless of whether I was affiliated with them or not. You’ll see platforms on the list I am not affiliated with in any way, just because I want people to have a complete overview.

I have tried to make the list as complete as possible with as many platforms as possible to give people an overview of the entire P2P lending landscape in Europe. On top of this, I have put in a lot of effort in making the list (it looks simple, but it takes a lot of time). I have tested the platforms, gathered data on them, filtered platforms out, ranked them according to experience and data, been in touch with their customer supports for further data and insights etc.. So even though there’s a few I am not directly invested in, I believe I add a lot of value to people looking for an overview of all available platforms in Europe and a few details about them. Finally, as I also encourage in the post, the overview should of course be followed up by my readers’ own research.

Hope this makes sense – and thanks for following along ๐Ÿ™‚

All the best,
Carl

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Nikolaj December 22, 2018 - 16:08

Hi Carl

Thanks for the clarification, it’s all good ๐Ÿ™‚
Merry Christmas!

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Carl December 22, 2018 - 16:41

Thanks, Nikolaj. Merry Christmas to you too ๐Ÿ™‚

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a nerd December 17, 2018 - 22:13

I like your list, although I’m a bit sceptic about payday loans platforms like Robocash.
Also, I see you’re talking about Debitum Network, does that platform really work? I thought it was dead. I made an account a while ago and every time I want to login it tells me “Maximum attempts to login reached”. It doesn’t matter that I just changed my password.

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Carl December 18, 2018 - 05:07

I agree that thereโ€™s a whole ethical discussion regarding P2P lending (i.e. what is it we are funding), so cutting out whole providers that only offer for example payday loans or excluding certain loan types might be a good way to control this. This comparison is mostly showing the best options available without judging ethics (except if some are obviously scammy, breaking the law or similar) – I will leave this up to the individual.

For Debitum Network it is working great for me (I can easily login), so maybe try to contact their customer service? I have noticed they are active on Twitter too, so that might be a way to reach them. Actually, I just noticed they just launched autoinvest functionality as well, so it seems like they are still active. Let me know if the login problems continue and they are unresponsive.

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a nerd December 18, 2018 - 15:32

Good idea on asking support :). They answered in about 10 minutes. Apparently, I didn’t verify my account so that’s why I couldn’t login. Better error messaging would have been helpful. I was only getting an error saying “maximum login attempts reached. you’re account is locked for 5 minutes”.
Thanks for helping me solve this, I have a new website to play with now.

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Carl December 18, 2018 - 15:42

Ah, excellent! I am happy to hear they are still active and helpful ๐Ÿ™‚ But I agree with you, they should probably work a bit on their error messages. Have fun!

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Nick @ TotalBalance.blog December 14, 2018 - 10:28

Hi Carl,

great write-up! You’ve certainly been productive, while laying around in that hammock all day!? ๐Ÿ˜›
I find the concept of P2P lending fascinating, and I believe it’s going to become a serious competitor for the banks in the future.

However, while I also have an account with Mintos (And FastInvest – SPOILER ALERT! ๐Ÿ˜› ) I can’t help but feel a bit…uncertain about, what I’m actually financing. My Mintos account is just set for auto-invest, and I’m currently invested in more than 100 loans on the platform. I have absolutely NO idea what these loans are used to fund. I suppose I shouldn’t really care. But I do. I see other people in the FIRE community, with the same concerns. How do you feel about this?

Ideally, I would like to participate in a P2P platform that only promotes/funds green initiatives! That’d be awesome. But it seems that does not exist…yet!

Anyway, what’s your take on this issue? Do you “vet” each loan you participate in, in order to have a clear conscience? ๐Ÿ˜‰

This is why I prefer the crowdinvesting platforms (like Envestio), where you can “cherry pick” bigger projects that you feel like supporting. Granted, they are not green either, and you have NO idea how the development companies run their business – but at least you know they are building something that can have a possitive effect on other peoples lives…

How are the Pinรฃ Coladas? ๐Ÿ˜›

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Carl December 14, 2018 - 12:30

Haha, yes! Now I finally have some time to write these posts I have been wanting to write forever ๐Ÿ™‚

I also agree that P2P lending is fascinating, and I love how it is blossoming in Europe at the moment.

I also fully share your concern of what it is we are actually funding. I guess it is the same discussion when we speak about ethical stock market indexes vs. normal stock market indexes. It is a bit hard to see where you money actually goes. I believe a platform such as Grupeer (or Envestio as you mention) is doing really well in giving very detailed information about their development projects (try to check their loan information and project information out), so there you at least have some transparency. Maybe in the future we will see P2P lending firms focusing on ESG (that would be cool!). As of now, I can’t vet the loans enough based on the information on most platforms, so I blindly put my faith in European authorities to keep some control of these companies.

… and the drinks are absolutely great, thanks :p

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Nick @ TotalBalance.blog December 14, 2018 - 14:43

I noticed that Estateguru was marketing a few of their projects this month as a “Charity project”. I got intriqued, and followed the link on the project page: https://estateguru.co/campaigns/estateguru-and-estonian-financial-bloggers-charity/?switch=en

Turns out they are working with a few local bloggers, who have selected a (local) charity that some of the proceeds from these projects will go to. I don’t know the charities, but this is a step in the right direction, in terms of helping people with your investments ๐Ÿ™‚ I’ve thus opted to enter Estateguru this month (with a few โ‚ฌ100). They have a steady flow of new projects coming in every month. Granted, the interest rate is not that great, but I’m barely scraping 10% on Mintos at the moment, so 11-12% is still acceptable to me.
Enjoy the Mojitos! ๐Ÿ˜›

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Carl December 14, 2018 - 16:00

Ah, that’s cool! Let me know how it goes with Estateguru (are you getting impatient with your money just waiting to be invested? ๐Ÿ˜‰ ). I luckily still have some long term loans at Mintos locked in at high interest rate, but I have heard more and more people commenting on the declining interest rates.

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Nick @ TotalBalance.blog December 14, 2018 - 17:32

I was born impatient – so yes! ๐Ÿ˜› But I can’t complain. I’m sure the right opportunity will present itself in 2019!
10% interest is still ok, I think – but I’m aiming at 14% for my crowdlending portfolio, so neither Estateguru nor Mintos is going to get me there – but I should have started with a handful of platforms and spread my money out a little more evenly, I think. I’m going to try to spend 2019 balancing my crowdlending portfolio a little more. To reach my target of 14%, I still have to keep a bit of overweight on Envestio and Bulkestate though. Check out the latest project from Imbro (Retail project) https://www.imbro.dk/?projekter=rema-1000-horsens 21.4% yield). With retail, your exit is more uncertain though, so it’s not for me – but that is definitely something I will consider in the long run, once I got my first real estate investment in the bag *waiting aggressively* ๐Ÿ˜€

Bert December 18, 2018 - 16:34

Thanks for the kind words! We have currently collected over 1500โ‚ฌ with the aim of getting about 5000โ‚ฌ. We have done charity for Christmas every year, but never at such a large scale and in cooperation with valued community members. One of the charity funds which we are raising money for does year-round donations into charitable causes, which ensures that we can be of help all year round ๐Ÿ™‚ In case of any questions about the platform, feel free to ask me.

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Carl December 18, 2018 - 16:36

Sounds very interesting, Bert! Good job ๐Ÿ™‚

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