Last Update: 14 August 2026
New investors receive 1% cashback on the weighted average investment amount during the first 30 days after registration. The bonus is capped at €500 and is credited 40 days after registration. I am invested with my own funds at Income since April 2022. Since then, I achieved a total return (XIRR) of 12,81%. My outstanding portfolio on the platform stands at 25.243 €. Income Marketplace is an Estonia-based P2P lending platform that launched in January 2021. Since then, investors have been able to invest with a variety of international loan originators and earn returns of up to 15%. What stands out in particular is Income’s positioning as the supposedly safest P2P platform for investing in loans. This is due to new and innovative security features such as the Junior Share and the Cashflow Buffer, which differentiate from the traditional buyback guarantee approach. Although Income Marketplace has already faced some challenges with certain loan originators, the overall portfolio quality can be assessed as very strong. To date, investors have not incurred any losses, and the debt collection rate remains below 1%. Combined with competitive interest rates, as well as a high level of transparency and communication, Income Marketplace is one of the best alternatives in the current P2P lending landscape. All key facts and figures about Income Marketplace at a glance. For those who prefer watching over reading, take a look at my Income Marketplace video review (November 2024): Kimmo has not only gained a lot of experiences from the lender side, but also as a private investor on various P2P platforms. He experienced first-hand how little investors were protected after the outbreak of the coronavirus pandemic and how problems and weaknesses of some P2P platforms have been exposed. Kimmo subsequently took these events as an opportunity to build a new P2P marketplace with additional security features according to his own ideas and standards. In July 2020, he founded the company “Income Company OÜ”, which marks the origin of Income Marketplace. Income Marketplace follows a P2P lending marketplace model. The platform acts as an intermediary between investors seeking a return on their capital and loan originators who list their assets on the platform for financing. Unlike the “classic” P2P model, where the platform also assesses individual borrowers, Income focuses primarily on acquiring financially sound fintech companies that require loan financing to scale their business model. As a marketplace, Income monetises primarily through a platform fee charged to loan originators for financing their assets on the platform. This fee ranges between 2% and 4% of the outstanding loan portfolio and is calculated on the basis of a daily balance. According to the 2025 annual report, Income Marketplace generated revenue of approximately EUR 693,261 through this model. There have been two in-person visits to Income Marketplace in Tallinn: In September 2022 and in June 2024. During the first visit, I had the opportunity to meet Income founder Kimmo Rytkönen and a large part of the team. The second visit marked my first meeting with the new CEO Lavrenti Tsudakov, who left a very competent and professional impression. The conversations centred around the handling of underperforming loan originators, the assessment of loan portfolios on the balance sheet and the platform’s further growth strategy. Following the meeting, a podcast episode was recorded to mark the milestone of EUR 100 million in financed loans. The conversation can be watched here. P2P lending is a dynamic asset class where investors should stay continuously informed. You will find the latest news on Income Marketplace on my P2P lending news page, where I cover other P2P platforms as well. Income Marketplace now offers two-factor authentication (2FA) on its platform. In addition to the password, users will be asked to enter a one-time code generated by an authenticator app (Google Authenticator or Authy) when logging in. The code refreshes every 30 seconds. The feature can be set up via the account settings under Security. 2FA is optional and can be disabled again at any time. Income loan originator Sandfield Capital has published its financial results for 2025. For context: These are unaudited company figures and not an audited financial statement. The company reported a net profit of €2.4 million. However, this was primarily driven by a one-off effect: the write-off of accrued but never paid salaries owed to former members of management. This is therefore not an operationally generated profit, but a balance-sheet one-off effect. Liquidity ratio of 1.2 still looks acceptable. However, leverage is extremely high, while equity remains negative despite an improvement compared with the previous year (-0.7%). Income has added One Leasing as a new loan originator to its marketplace. The company was founded in 2018 in North Macedonia and specializes in financing used vehicles through leasing. The lender belongs to the same group as Virtus Lending. So far, the loan originator has provided around €2.9 million in leasing financing and currently manages a portfolio of approximately €758,000. To start off, One Leasing offers interest rates of 12% p.a. and terms ranging from 12 to 48 months. According to the latest financial statements, the company's financial position is rather strained. Leverage is high, liquidity is low, and equity has been negative for the past two years. Within my loan originator score, One Leasing only manages 33 points. Hence, my personal view would be to rather wait with an investment and prioritize other loan originators instead. Alternatively, you can subscribe to my Telegram channel or WhatsApp group (both free of charge) to receive real-time updates as soon as new developments emerge. Who are the main shareholders and management executives behind Income Marketplace? Let’s have a look! Due to a larger field of founding members and an interim fundraising round at SeedBlink, the ownership structure is broadly diversified. The main shareholders include: The remaining shares are distributed among the other founding team, angel investors, private equity firms and smaller private investors who have secured shares in the company via SeedBlink. Income founder Kimmo Rytkönen, who has been CEO of the platform since its inception, is now focusing more on the strategic challenges at Income Marketplace. These include the onboarding of new lenders, the licensing process for becoming a regulated P2P platform and the company’s next funding round. To invest on Income Marketplace, investors must meet three requirements: The registration process at Income is fairly simple and intuitive. After opening the account via email, the KYC and AML questionnaires have to be completed, followed by the identity verification through Veriff. Also legal entities have the opportunity to sign up on Income Marketplace. New investors receive 1% cashback on the weighted average investment amount during the first 30 days after registration. The bonus is capped at €500 and is credited 40 days after registration. A platform overview with all bonus offers and cashback promotions can be found on the bonus page. How does Income Marketplace work and what should investors know and consider when investing on the plaform? In the following sections of my Income Marketplace review you will find all the necessary information that you need. There are a variety of international lenders on Income. These are geographically spread across the regions of Europe, South America and South East Asia. Below is a brief overview of the largest and most important lenders on Income Marketplace. The lenders represented on Income Marketplace offer a wide variety of loan types, maturities and interest rates for investors. There are no fees or hidden costs for retail investors on Income Marketplace. Neither for deposits or withdrawals, nor for the functionalities when investing on the platform. If you want to earn a passive income by investing in private consumer loans, you don’t have to worry about additional costs at Income that would reduce the advertised return. The overall return expectation on Income Marketplace largely depends on the selection and performance of the individual loan originators. In general, interest rates can be set by the lenders themselves, although the platform has capped the maximum rate at 15%. My personal investment with Income Marketplace goes back to April 2022. During this time, I have built an outstanding P2P portfolio of more than EUR 25,000, achieving a total return of 13.24%. This represents a very competitive return within the P2P lending space. In addition to the high interest rates, portfolio quality plays a pivotal role. Historically, the debt collection rate on Income Marketplace has never exceeded 2%, providing the foundation on which the achieved returns are built. On Income Marketplace, investors have the opportunity to invest manually in loans as well as through an Auto Invest feature. With the Income Auto Invest, individual lenders can be selected as well as the borrower countries, the term of the loans, the interest rates, the investment amount, the loan type or the loan status. In addition, there are even more advanced filter options, where you can also filter by the total loan amount or the remaining loan amount, among other things. The minimum investment amount per loan is currently EUR 10, which is common practice for most platforms. Income Marketplace does not (yet) have a secondary market. The marketplace plans to introduce this functionality in the future though. Generally, interest income generated by loan financing is considered investment income and must be reported as such on the tax declaration. Unlike other platforms, Income Markeplace does not withhold any taxes at the moment. For the tax declaration, investors can find an overview in the dashboard where a tax report for the respective year can be downloaded. This information can then be forwarded to the respective tax office as part of a tax declaration. Investors should look very carefully at the potential risk factors when evaluating a P2P platform. What is it that investors need to be aware of when it comes to Income Marketplace? Where are the underlying risks and how are they assessed? The Income platform, operated by the Estonian company “Income Company OÜ”, launched its operations in January 2021. Since then, the platform has consistently met its obligations towards investors. No Red Flags present. Currently, no legal or regulatory framework exists in Estonia that would apply to Income Marketplace’s business model. As a result, the platform is not subject to any supervision or oversight by a financial authority. This also means that there is neither an investor compensation scheme nor any regulatory requirement for compliance or transparency standards. While this provides more operational flexibility, it also means less protection for investors. Financial reports are published on a regular basis, though they are not audited by a major accounting firm. To date, the platform has not yet reached profitability and remains dependent on capital contributions from its shareholders or external funding rounds. According to the main shareholder, there is a commitment to continue supporting the platform’s growth for the foreseeable future. Investor funds at Income Marketplace are held in separate B2C accounts through Verifo and are therefore fully segregated from the platform’s own operating funds. Verifo is a licensed e-money institution based in Lithuania. Unlike traditional bank deposits, there is no entitlement to compensation through a deposit guarantee scheme. Investors should therefore be aware that invested capital is subject to a real risk of loss, that returns are not guaranteed and that it may not be possible to recover the full amount invested. Since its inception, Income Marketplace has stood out for its high level of transparency and open communication. This includes the “Income Insights” podcast, launched in November 2023, which aims to keep investors better informed about the P2P platform and the developments of individual lenders. The main guest is Income founder Kimmo Rytkönen, though other team members and lenders active on the platform also participate. Due to my long-standing history with the company and close exchange with the involved parties, I was asked to host the new format. My approach is to critically examine the platform’s developments and provide investors with a realistic insight into the marketplace’s challenges. The Income Insights podcast is available on all major streaming platforms as well as on the platform’s YouTube channel. The financial stability of a P2P platform is a key risk factor. Is Income Marketplace able to operate profitably? And how well is the company positioned financially? Annual Report Auditor: Not Available No external audit firm engaged. Standard: Estonian GAAP Local standard, not internationally comparable. Income Marketplace is currently not profitable. A look at the latest annual report reveals that the company closed 2025 with a loss of EUR 437,981. According to current projections, the company plans to reach breakeven on a monthly basis by the end of 2025. To achieve this, Income requires assets under management of approximately EUR 30 million. Until profitability is reached through its own funds, the platform’s shareholders are willing to finance further growth with equity. Income Marketplace markets itself as the “safest platform for investing in loans.” The platform emphasizes safety features such as the “Junior Shares” and the “Cashflow Buffer.” The question for investors is whether these are merely marketing claims or whether they represent genuine, innovative security mechanisms that effectively reduce risk. Income Marketplace offers a traditional buyback guarantee, which functions similarly to those on other P2P platforms. If a loan is more than 60 days overdue, the lender is obliged to repurchase it, reimbursing both principal and accrued interest. As is often the case, investors should keep in mind that a guarantee is only as reliable as the financial strength of the issuer providing it. The Junior Shares are a modified version of the common “skin in the game” concept. The general assumption is that lenders should be similarly motivated to collect the debt in the event of default. Both parties, investors and lenders, are equal in this case. Junior Shares on Income Marketplace differ as far as the lender’s “skin in the game” share is registered as a junior debt. This means that lenders, in the scenario of a default, have a lower repayment priority. Only when all outstanding receivables from the investors have been repaid in full, the lender has the option of get back his share. Accordingly, investors enjoy a preferential treatment in the event of default. For the execution, special-purpose vehicles (SPVs) have been created, ensuring that borrower repayments are directly under the control of Income Marketplace. Lenders are also required to transfer their individual portion of the Junior Shares into this structure. At Income Marketplace, the junior share is intended in particular to hedge the risk of default by borrowers and to encourage lenders to work to the best of their ability. The cashflow buffer, on the other hand, is designed to address the risk of a potential lender default. The cashflow buffer is made up of several aspects. It is a combination of: In reality, the way it works is that Income Marketplace looks at the quality of the lenders’ loan portfolio and calculates how much money those loans make on a portfolio basis (see “historical repayment coefficient” in the chart) and how profitable they are. This determines the value of the collateral, similar to how it works with mortgage loans. After potential risk factors such as currency fluctuations, pandemics, or other value-reducing aspects are taken into account, the P2P marketplace calculates how many Junior Shares are needed to fully protect investors in a problem scenario. For this reason, the Junior Shares held by lenders—averaging 20% to 35%—are significantly higher than the classic “Skin in the Game” portion, which usually ranges from 5% to 10%. Regardless of the platform’s own assessment, investors should independently examine the risk profile of each lender. For an evaluation of financial stability, the following table provides an overview of the current financial figures. You can check out the lender overview and comparison page for additional information regarding applied KPIs and their interpretation. The numbers for DanaKredi and Danabijak have been converted from IDR to EUR, as have the figures for the ITF Group from BNG to EUR. Since the default, Income Marketplace has made twelve monthly repayments of EUR 5,000 each from its own funds. The remaining outstanding claims currently amount to approximately EUR 88,000 (as of June 2026). In this section, I have listed the most important advantages and disadvantages of Income Marketplace. Income Marketplace is an ambitious and innovative P2P platform from Estonia, which I have been closely monitoring since its inception. I have been actively investing on the platform since April 2022, during which time my portfolio has grown to over EUR 25,000 with a total performance exceeding 13%. The marketing as the “safest” platform for investing in loans may be somewhat too ambitious. Nevertheless, the track record so far is impressive: investors have not yet suffered any losses, and the default rate remains consistently below 1% of managed investor assets. Investors should, however, take note of the platform’s lack of regulation and profitability. As such, Income Marketplace may not be suitable for highly conservative investors. Outside of these considerations, Income Marketplace presents a very attractive overall profile, combining excellent portfolio quality, high transparency, and competitive returns. For investors who value these features, Income Marketplace represents a strong alternative for their P2P portfolio. New investors receive 1% cashback on the weighted average investment amount during the first 30 days after registration. The bonus is capped at €500 and is credited 40 days after registration. Already invested in Income Marketplace? Or looking for similar platforms? Here are three Income Marketplace alternatives from the P2P market. PeerBerry: A P2P marketplace incorporated in Croatia, working closely with partners from within the Aventus Group. Like Income Marketplace, PeerBerry stands out through a notably strong performance during times of crisis and a reliable repayment quality. Both platforms target investors that are looking for an attractive combination of high interest rates and high liquidity. More information in my PeerBerry review. Nectaro: A regulated P2P marketplace based in Latvia, operating under MiFID II regulations and backed by an internationally established group. Loans are primarily used to fund the lending operations of the parent company. Affiliated loan originators offer competitive interest rates and a solid track record. More information in my Nectaro review. Mintos: The largest P2P platform in Europe with assets under management of 800+ million euros. Compared to Income Marketplace, Mintos offers a notably broader selection of international loan originators and asset classes, including loans, ETFs and bonds, within a regulated platform environment. More information in my Mintos review. You can find other Income Marketplace alternatives on the P2P Platform Comparison page. Income Marketplace is an Estonia-based P2P marketplace operational since January 2021, where investors can invest in buyback-secured loans from international loan originators. Returns reach up to 15%. The platform markets itself through innovative security concepts such as the Junior Share and the Cashflow Buffer. Interest rates reach up to 15% depending on the loan originator, with a maximum cap set by the platform. My personal total return since April 2022 stands at 13.24%, with a portfolio of over €25,000 built up over this period. The Junior Share is a subordinated debt of the loan originator that is only repaid after all investor claims have been fully settled in case of default. The Cashflow Buffer analyses the profitability of the originator’s loan portfolio and determines how many Junior Shares are needed to fully protect investors. Both mechanisms go beyond a classic buyback guarantee. No. Income Marketplace is not supervised by any financial authority. There is also no deposit protection scheme. However, the recovery rate has historically remained below 1% of managed investor assets, and investors have not suffered any capital losses to date. Yes. New investors registering via my partner link receive unlimited 1% cashback on all investments made within the first 30 days after registration. 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 Income Marketplace?
Income Marketplace at a Glance
Founded / Started:
July 2020 / January 2021
Legal Name:
Income Company OÜ (LINK)
Headquarter:
Tallinn, Estonia
Regulated:
No
CEO:
Lavrenti Tsudakov (October 2023)
Assets Under Management:
EUR 30+ million
Number of Investors:
11,000+
Expected Return:
13.8%
Risk Score:
6.2 / 10 (Rank 9 of 29) | View Methodology
Primary Loan Type:
Consumer Loans
Collateral:
Buyback Guarantee (60 Days)
The Origin Story
Kimmo Rytkönen has been working in the international lending business since 2011. Among other jobs, he was the founder of the Polish lender Aasa Polska, which was also represented on Mintos at the time.Business Model
Income Marketplace On-Site Visit
Income Marketplace News
Shareholder and Management
Income Marketplace Shareholder
Who owns Income Marketplace? The P2P marketplace is operated by the company “Income Company ÖU”, which was entered in the Estonian company register on 22 July 2020.
Income Marketplace Management
Since October 2023, Estonian Lavrenti Tsudakov is CEO of Income Marketplace. He had already worked previously for the platform since June 2021. At Income, he was employed as COO, which is why he should have a good understanding about the operational challenges in the day-to-day business.
Sign Up and Bonus
Income Marketplace Bonus
Investing on Income Marketplace
Loan Offering
Costs and Fees
Expected Returns
Auto Invest
Income Marketplace Taxes
Income Marketplace Risks
Platform Risk
Red Flags 0
Segregation of Funds and Deposit Protection
Income Insights Podcast
Financial Stability
Profitability
Lender Risk
Buyback Obligation
Junior Shares
Cashflow Buffer
Lender Risk
Loan Originator
Year
Audited
Profit
ROA
Equity Ratio
Debt
Liquidity
Impairments
Score
Autofino
2024
Crowe
EUR 51K
1,0%
52,7%
0,9%
0,8
3,5%
71
Current Auto (LT)
2023
Unaudited
EUR (54K)
(0,7%)
(2,9%)
(35,0%)
163,8
12,2%
24
Current Auto (LV)
2024
Unaudited
EUR (912K)
(19,4%)
(55,2%)
(2,8%)
1,1
55,3%
26
Danabijak
2023
Kreston Indonesia
EUR 15K
72,9%
43
DanaKredi
2024
Unaudited
EUR 13,8M
30,9%
68,2%
0,5
3,1
64
Hoovi
2024
Unaudited
EUR 661K
9,9%
12,1%
7,3
0,6
5,9%
57
Ibancar
2025
Unaudited
EUR 730K
3,4%
14,6%
5,8
6,8%
45
ITF Group
2024
ECOVIS
EUR 1,8M
11%
34,3%
1,9
2,2
74
Mocasa
2025
Unaudited
PHP (11,5M)
(7,9%)
42,8%
1,3
1,7
39
One Leasing
2025
Russell Bedford
EUR (129K)
(11,7%)
(12,5%)
(9,0)
0,1
15,0%
33
Pinjam Yuk
2025
Unaudited
USD 44,1M
21,7%
47,8%
1,1
2,1
33,3%
62
Sandfield Capital
2025
Unaudited
EUR 2,4M
10%
(0,7%)
(-142)
1,2
0,5%
55
Simpleros
2024
Unaudited
EUR 259K
15,9%
31,3%
2,2
2,3
59
Virtus Lending
2025
BDO
EUR 372K
3,3%
11,4%
7,0
0,5
2,9%
68
Loan Originator Defaults
In October 2022, the Brazilian loan originator ClickCash was suspended from the platform. At the time of suspension, outstanding claims amounted to approximately EUR 180,000, while the cash flow from the pledged loan portfolio is reported to have been only around EUR 50,000. The case raises the question of why Income did not monitor the pledge rights more closely, which would have allowed for earlier detection of the problem.
Advantages and Disadvantages
Summary Income Marketplace Review
What is the preliminary conclusion of this Income Marketplace review?
Income Marketplace Alternatives
FAQ Income Marketplace Review
