The loans are not sourced by Debitum itself (with the exception of Sandbox Funding), but are offered from external lenders on the marketplace. Technically speaking, Debitum is therefore not a P2P, but a P2B (peer-to-business) platform. The platform reached an important milestone in September 2021 when it was granted a licence as an investment brokerage firm. Since then, the platform has been supervised by the Latvian Financial Supervisory Authority and regulated in accordance with MiFID II. The change of ownership in August 2023 is equally positive, as a result of which Debitum has seen a number of positive developments and new innovations. These include improvements for the loan supply, interest rates and liquidity. In addition, the Auto Invest function has also been reintroduced. Fun fact: The Latvian word “Debitum” translates as “credit debt”. All key facts and figures about Debitum at a glance. For those who prefer watching over reading, take a look at my Debitum video review (July 2024): The idea of Debitum, then called Debitum Network, was born in 2017. The founders at the time included Martins Liberts, Donatas Juodelis and Justas Šaltinis. Before founding Debitum, both Martins and Justas set up Lithuanian company DEBIFO. This was a lender specialising in invoice financing for small and medium-sized enterprises (SMEs) from Lithuania. The lender, which has also been financing some of its loans via Mintos, is now known as Factris. Due to regulatory problems, DEBIFO had difficulties expanding its lending operations in other EU countries at the time. This problem initiated the idea of setting up a marketplace for similar lenders who faced the same issue. The idea of Debitum was born. Following a token sale, which raised the equivalent of around EUR 6 million, the P2P platform was set up. The operational launch of the platform took place in September 2018. The P2P marketplace is primarily financed from commission income. These fees are charged to lenders for placing assets on the Debitum platform. As a result, Debitum was able to generate a revenue of EUR 2.4 million in the 2025 financial year. An additional EUR 20,000 was generated from other operating income. Who are the main shareholders and management executives behind Debitum Investments? Let’s have a look! Who owns Debitum Investments? The Baltic-based P2P platform is operated by the company “SIA DN Operator”. A look into the Latvian company register reveals that 100% of the shares belong to the company “ZIdea.” The beneficial owner of ZIdea is the Latvian citizen Ingus Salmins. Ingus has already been the majority shareholder of the P2P platform since July 2023. After his partner Eriks Rengitis sold his shares (approximately 33%) in October 2025, Ingus became the sole owner of the Debitum P2P platform. Salmiņš is a financial expert with a focus on fintech and investment. After completing his MBA at the Stockholm School of Economics in Riga, he gained professional experience in corporate development, sales, and restructuring. In July 2023, he and his company “ZIdea” acquired a majority stake in the Debitum platform. More information about the Debitum Investments team can be found on this page. In order to invest on Debitum, investors must meet two requirements: A minimum age of 18 years and a bank account in one’s own name. If these requirements are met, registration on Debitum can be completed in a few steps. Also legal entities have the opportunity to register on Debitum. Investors who register on Debitum via this link will receive a 1% cashback on all investments made in the first 30 days after registration. Only assets with a term of 90+ days are taken into account. A platform overview with all bonus offers and cashback promotions can be found on the bonus page. The P2P lending industry is a fast-moving environment. Hence, make sure to stay on top of all relevant information by subscribing to my channels on Telegram or WhatsApp. This way, you will always receive the latest information from the P2P industry, including platform news regarding Debitum. How does Debitum work and what should investors know and consider when investing on the plaform? In the following sections of my Debitum review you will find all the necessary information that you need. Debitum has been a regulated P2P platform, controlled by the Latvian financial regulator FCMC since 2021. Since this change happened, investors no longer invest in claim rights, but in asset-backed-securities (“notes”). These are financial instruments that are composed of a bundle of different loans. The focus of Debitum is on business loans, which are offered by international lenders. Debitum is very careful when assessing new lenders, which is why there are only a few long-term partners on the marketplace. These include Evergreen Capital (Estonia), Flexidea (Latvia and Poland) and Triple Dragon (UK). Other lenders include Sandbox Funding and Juno Finance (both Latvia). There is a fixed interest rate for the securities. This is amortised over the entire term as the underlying loans are repaid. The range on Debitum is between 8% and 15%. In some cases, it can also be up to 15%. The minimum investment amount is EUR 50. In addition to asset-backed securities (ABS), Debitum is offering notes (bonds) as a further investment product since March 2024. The difference to asset-backed securities is that the repurchase obligation no longer falls on the lender, but on the issuer’s shareholders. In addition, payments are no longer linked to the underlying assets, but to the issuer as a legal entity. The first ten bonds were offered by Sandbox Funding, with a term of 6 to 12 months and an interest rate of between 13% and 13.5%. Costs and Fees There are no fees or hidden costs for private investors on Debitum. Neither for deposits or withdrawals, nor for the functionalities when investing on the platform. On Debitum, the expected return largely depends on the selection and performance of the respective loan originators. For example, Evergreen Capital often offers interest rates of only around 8%, while the Latvian Forest Development Fund can go up to 16.5%. In addition, various bonus campaigns must be taken into account, which can further have a positive impact on return expectations. Since my Debitum comeback in July 2024, I have been able to achieve a total return of 15.46%. Considering the risk profile of the platform, Debitum therefore offers one of the most competitive returns in the P2P lending space. In December 2023, Debitum has launched the long overdue Auto Invest feature, which is one of the common functionalities of a modern P2P platform. Investors have the option of having their investments selected automatically based on previously set criteria. These criteria include the maximum portfolio size, the interest rate, the loan term or the selection of individual lenders. The “Auto Withdrawal” setting is particularly interesting. Here, the monthly interest income is automatically transferred to the investor’s account. However, there is a restriction that only investors with an outstanding portfolio of EUR 10,000+ can use the Auto Withdrawal function. All assets offered on Debitum have a buyback guarantee issued by the lenders. This means that if the repayment of a particular loan is delay for an extended period of time (usually 90 days), the lender is obliged to buy it back and cover the remaining principal, as well as the outstanding interest. In general, this buyback mechanism has always worked well. There is an exception with the Ukrainian lender Chain Finance though, where the repayment could not be met due to the war in Ukraine. Here, the platform invokes a force majeure. In principle, interest income generated by loan financing is considered investment income and must be reported as such in the tax declaration. After obtaining the investment brokerage firm license in 2021, Debitum is now legally required to also withhold taxes on interest income that is collected through regulated financial instruments. The applied tax rate is based on the country of tax residency and the tax information that are submitted. When paying taxes in your county of residence, the withheld taxes can usually be deducted from the overall balance. This means that the effective taxation rate will be the same as it has been before when investing into claim rights. To get access to the relevant data, Debitum offers to download tax reports and income statements from the platform. When considering a P2P platform, investors should take a very close look at the potential risk factors and evaluate them before making an investment. What should be considered in the specific case of Debitum? What are the underlying risks and how can they be assessed? Debitum Investments, operated by SIA DN Operator, has held an investment brokerage license since September 2021, issued by the Latvian central bank. The platform is therefore subject to the requirements of the Markets in Financial Instruments Directive (MiFID II). As a result, investors’ accounts are protected up to EUR 20,000 by the investor compensation system in Latvia in the event of the platform’s insolvency or misuse of investor funds. However, this does not cover potential defaults by the loan originators. Due to the platform’s regulation, Debitum must also comply with a high level of compliance and transparency standards, which enhances the safety of the P2P lending platform. Among other requirements, the platform must regularly prepare audited annual financial statements, allowing for an assessment of its financial stability. In addition, investor funds must be kept separate from Debitum Investments’ own capital. In case of insolvency, these funds are not touchable by the bailiff and cannot be used to cover third party creditor claims. The investments offered through Debitum are not covered by European deposit guarantee schemes (such as the Deposit Guarantee Directive 2014/49/EU). This means that – unlike traditional bank deposits – funds invested on Debitum Investments are not insured or guaranteed by any national or European compensation scheme. Accordingly, investors should be aware that the capital invested is subject to the risk of loss, that returns are not guaranteed, and that they may not recover the full amount originally invested. Debitum had to deal with scam accusations in the past. The background is a crowdsale funding (token generation event) from 2017, from which Debitum emerged. The accusation: Many investors felt deceived by Debitum in the promise to give the DEB token a meaningful use. Instead, it was only intended to provide funding for a business model primarily based on a FIAT currency. The new Debitum shareholders, who took over the platform in August 2023 and who were not involved at the time, are disputing outstanding claims against the investors concerned. The financial stability of a P2P platform is a key risk factor. Is Debitum already able to operate profitably? And what conclusions can be drawn from the balance sheet? Annual Report Auditor: BDO Assurance Established and independent audit firm (Top 10 worldwide). Standard: IFRS Internationally recognised standard. Transparent and comparable. The following figures are based on the SIA DN Operator annual report for 2025. The report was prepared by BDO Assurance and audited in accordance with IFRS standards. The figures therefore carry a certain degree of credibility. While revenue increased by 85% to EUR 2.4 million, operating expenses for marketing and salaries rose only slightly, by approximately EUR 436,000. As a result, Debitum was able to generate a profit of EUR 507,000 in 2025. The Latvian P2P marketplace has thus been profitable for the second consecutive year. The 2025 financial report was prepared by the Latvian BDO Assurance and audited in accordance with IFRS standards. The figures therefore carry a certain level of credibility. The balance sheet of SIA DN Operator has improved compared to the previous year. The return on assets stands stands at a strong level of 10.2%, as does the equity ratio at 70.3%. In addition, the debt ratio (0.42) has been declining for the third consecutive year. The balance sheet is rounded out by a liquidity ratio of 1.62. Accordingly, there appears to be no issue regarding the P2P platform’s ability to meet its payment obligations. Also positive: the company has recovered from accumulated past losses. At the end of the 2025 financial year, retained earnings amounted to EUR 55,267. Overall, SIA DN Operator shows stable and healthy financial metrics, paving the way for a sustainable future growth of the P2P platform. On Debitum, the lenders are required to finance between 10% to 30% of their loans with equity (skin in the game). This ensures that the lender has a vested interest in maintaining a good portfolio quality. In the event of loan defaults, the lender is obligated to repurchase the loan within the specified timeframe (usually 90 days) as part of the buy-back obligation. The ongoing fulfillment of the buyback guarantee depends largely on the lender’s risk management and financial situation. To allow for a better assessment, the following table provides an overview of all active lenders currently represented on Debitum. Check out the lender overview and comparison page for additional information regarding applied KPIs and their interpretation. So far, all lenders currently active on Debitum have met their repayment obligations. In the context of the outbreak of war in Ukraine, there was to date the only lender default on the Debitum platform. This involved the Ukrainian lender Chain Finance, which at the time of the default had approximately EUR 1.9 million in outstanding assets on Debitum. Repayment of the outstanding claims has been frozen indefinitely, citing force majeure. In July 2023, the platform announced that a restructuring of the outstanding claims had taken place, in which the Debitum subsidiary “DN Funding Alpha” took over the obligations of Chain Finance towards Debitum investors. As part of this restructuring, Debitum has held out the prospect of full repayment of the loans affected by the war. Accordingly, the lender could repay the outstanding receivables six years after the end of the force majeure. As a result, investor funds – which in theory could have been paid out immediately after the end of the war – would remain tied up for another four years. The fact that the former Debitum shareholders took this decision independently and without consulting with the affected investors, suggests a lack of investor interest by the platform. The new Debitum shareholders favor a different approach by working toward an early settlement of the outstanding obligations. To achieve this, a buyer is to be found who will purchase the claims at a discount. This could result in a realized loss on the platform for the first time. The Latvian Forest Development Fund, active on Debitum since February 2025, is one of the largest lending companies on the P2P marketplace. As of April 2026, LFDF’s outstanding loans amounted to approximately EUR 52 million, representing 86% of Debitum’s total portfolio. In March 2026, a detailed article was published which, based on the analysis of 652 land registry entries and 52 annual reports, raised serious allegations against LFDF and Debitum. At the core are claims of excessive price markups through affiliated insider companies, an unexplained inventory gap of EUR 24.6 million, and incomplete disclosures in annual reports. Debitum has commented on these allegations both publicly and in private communication. In my view, the three central points of criticism have not been substantially refuted. This does not necessarily mean that the allegations are entirely accurate. Without access to the actual purchase contracts for the timber component and a complete breakdown of the inventory, the matter cannot be conclusively assessed. Nevertheless, this debate shifts the risk assessment of an LFDF investment in a negative direction. I have therefore decided to let my own LFDF investment run off for the time being. A detailed analysis of the allegations and my personal assessment can be found in the LFDF article on the blog. In this section, I have listed the biggest advantages and disadvantages of Debitum. Debitum remains one of the most compelling options in the P2P lending space, offering a convincing mix of regulation, competitive interest rates and high liquidity. The positive transformation of the platform can largely be attributed to the change of ownership in August 2023, which has made Debitum significantly more agile and innovative. The recent discussion surrounding the Latvian Forest Development Fund has raised questions that affect the overall assessment of the platform. The heavy concentration on affiliated lenders from the Latvian forestry sector, combined with open transparency questions regarding the largest lender, are risks that investors should actively monitor. For investors who prefer to allocate capital on regulated P2P platforms and diversify their portfolio beyond traditional consumer loans, Debitum remains an interesting option. However, the current developments surrounding LFDF should be taken into account for the personal risk assessment. Already invested in Debitum? Or looking for similar platforms? Here are three Debitum alternatives from the P2P market. PeerBerry: A P2P marketplace incorporated in Croatia, working closely with partners from within the Aventus Group. Like Debitum, PeerBerry stands out through a notably strong performance during times of crisis and a reliable repayment quality. The key difference: PeerBerry focuses on unsecured consumer loans rather than business loans. More information in my PeerBerry review. Income Marketplace: An unregulated P2P marketplace headquartered in Estonia, which markets itself through innovative security features that are designed to protect investors from underperforming loan originators. Attractive combination of high interest rates and high liquidity. More information in my Income Marketplace review. Mintos: The largest P2P platform in Europe with assets under management of 800+ million euros. Like Debitum, Mintos follows a marketplace model with a wide range of international loan originators and is regulated. The key difference: Mintos offers additional asset classes beyond loans, including ETFs and bonds. More information in my Mintos review. You can find other Debitum alternatives on the P2P Platform Comparison page. Debitum (formerly Debitum Network) is a Latvia-based P2P lending platform, launched in September 2018, where investors can invest in SME business loans and earn returns of up to 16%. Since 2021, Debitum has been a regulated platform supervised by the Latvian Financial and Capital Market Commission (FCMC). Following this transition, investors no longer invest in assignment agreements (claim rights) but in loan-backed securities (“Asset-Backed Securities”). These are financial instruments composed of a bundle of different loans. Both natural and legal persons can register on Debitum. To register as a natural person, investors must meet two requirements: a minimum age of 18 years and a bank account in their own name. The interest rates on Debitum vary depending on the loan originator, ranging from 8% to 16%. Accordingly, the returns that investors can achieve may differ significantly. Since the change of ownership in summer 2023, interest rates on the platform have increased noticeably. My personal overall return has been around 14% since then. The platform is operated by SIA DN Operator, which has been supervised by the Latvian financial regulator since 2021 and is regulated under MiFID II. This protects investor accounts up to €20,000 through the investor compensation scheme against misappropriation or insolvency of the platform itself. However, default risks at the loan originator level are not covered by this protection. All assets offered on Debitum come with a buyback guarantee issued by the loan originators. This means that loans with a repayment delay (usually after 90 days) must be repurchased by the issuer. Both the remaining principal and any outstanding interest are covered under this guarantee. I’m Denny Neidhardt, the founder of re:think P2P. On this blog, I help retail investors make smarter, well-informed investment decisions in the world of P2P lending. Since 2019, I’ve been publishing in-depth analyses, platform reviews, and risk assessments to bring more transparency to this investment space. My goal is to challenge marketing claims, question developments, and empower investors with honest, independent insights.
What is Debitum?
Debitum Investments (formerly Debitum Network) is a Latvia-based P2P lending platform, launched in September 2018, where investors can fund business loans from SMEs and earn a return of up to 15%.Debitum at a Glance
Founded / Started:
April 2019 / September 2018
Legal Name:
SIA DN Operator (LINK)
Headquarter:
Riga, Latvia
Regulated:
Yes (Financial and Capital Market Commission)
CEO:
Ingus Salmins (March 2026)
Assets Under Management:
EUR 63+ Million
Number of Investors:
32.000+
Expected Return:
14.83%
Primary Loan Type:
Business Loans
Collateral:
Buyback Guarantee
The Origin Story
Business Model
Ownership and Management
Debitum Ownership
Debitum Management
In March 2026, Latvian Ingus Salmiņš took over the operational leadership of the Debitum platform. He succeeds Anatoly Putna, who stepped down from his role as CEO after only eight months.
Sign Up and Bonus
Debitum Bonus
Debitum Forum
Investing on Debitum
Loan Offering
Debitum Notes (Bonds)
Expected Returns
Auto Invest
Buyback Guarantee
Debitum Taxes
Debitum Risks
Platform Risk
Deposit Insurance
ICO Scam Accusations
Financial Stability
Profitability
Balance Sheet
Lender Risk
Loan Originator
Year
Audited
Profit
ROA
Equity Ratio
Debt
Liquidity
Impairments
Score
Evergreen
2024
Unaudited
EUR 279K
9,2%
24,7%
0,75
2,15
58
Juno
2024
Unaudited
EUR 158K
1,4%
7,6%
0,92
0,99
38
LFDF
2024
S. Vilcānes Audits
EUR 70K
1%
15,9%
0,84
1,19
48
Sandbox
2024
Latimira un Partneri
EUR 21K
0,5%
9,3%
0,91
1,28
43
Terra Baltic
2025
S. Vilcānes Audits
EUR 265K
91,9%
98,9%
0,01
84,02
65
Triple Dragon
2024
Unaudited
EUR 0
3,3
24
Chain Finance
Latvian Forest Development Fund
Advantages and Disadvantages
Summary Debitum Review
What is the final verdict of my Debitum review and my personal opinion?
Debitum Alternatives
FAQ Debitum Review
Debitum Review 2026: Analysis, Risks & Latest Developments
Update: Since March 2026, the affiliated loan originators from the Latvian forestry sector that dominate the Debitum portfolio have been publicly called into question. My analysis: Latvian Forest Development Fund: Analysis, Risks & Current Allegations
Affiliate Links / Conflict of InterestDisclaimer
This article contains affiliate links. If you register and/or invest through one of these links, the operator receives a commission. The compensation has no influence on the opinion or the evaluation of the platform. Potential conflicts of interest can be looked up on the “P2P Portfolio” page.
Investments in P2P loans involve risks and may result in the complete loss of the invested capital. Past performance is not a reliable indicator of future developments. The following content is provided for informational purposes only and does not constitute investment advice. Despite careful research, no guarantee is given for the accuracy, completeness, or timeliness of the information provided. No liability is accepted for any financial losses or investment decisions made based on the information presented here. For more details, see the full disclaimer.
✅ What is Debitum and how does the platform work?
✅ Who can invest on Debitum and what are the requirements?
✅ What returns can investors expect on Debitum?
✅ How safe is an investment on Debitum?
✅ Is there a buyback guarantee on Debitum?
I have seen you have stopped with Debitum june last year.
I am considering to start with Debitum, as one of the few business loans platforms.
They are rated positively on other sites like p2plendingsites.com and p2pincome.com.
Can you specify the main reason(s) you stopped with Debitum?
It see quite a difference between your own IR results (in the end less than 6%, despite Debitum zero default rate), and what Debitum projects, 14%. That is my main concern. On paper things look good, but reality is quite different???
My biggest concern is that they don’t publicly share AUM development and the performance of their portfolio. Also, some of their data displayed is clearly misleading investors and the decision with regards to Chain Finance was clearly not made in favor of investors. Now they are pushing funds for new Sandbox lender that is owned by one of their founders and I don’t like this conflict of interest. I wouldn’t rule out an investment in the future again, but prior I want to see some improvements from their new owners.