Lender Overview and Comparison

On many P2P platforms, investors have the option to choose from a variety of different lenders. Past experience has shown repeatedly that quality is often more important than quantity.

So how can one identify the best lenders?

A number of factors need to be considered. These range from financial stability to country-specific risks, portfolio quality, and potential guarantee promises.

Because the financial evaluation is one of the most important factors in lender analysis, this page provides an overview in which lenders are assessed with regard to reporting standards, profit, return on assets, equity ratio, debt, liquidity – and, in some cases, portfolio quality.

Disclaimer: The summary and evaluation of the published financial results have been carried out to the best of my knowledge and belief. However, isolated errors cannot be ruled out. Investors should therefore also examine the numbers and information independently. Furthermore, financial ratios in isolation are not a sufficient measure to judge a lender’s success or failure.

Criteria and Evaluation Scale

Below is an overview of the criteria used to assess the financial stability, including their interpretation.

Reporting Standard

Meaning: Not every lender publishes audited financial statements. An audited report according to an internationally recognized standard (e.g., IFRS) builds trust and reduces the risk that the figures are manipulated or incomplete.

Calculation: Not a numerical value, but a qualitative rating. This considers two factors: first, is there a financial statement that has been audited from a recognized auditing firm? Second, according to which reporting standard (IFRS, local GAAP, unaudited) was the report prepared?

Scale:

• Strong (1): Audited according to IFRS by a Big Four firm (PwC, EY, Deloitte, KPMG)
• Stable (2): Audited according to IFRS by a smaller auditing firm
• Medium (3): Audited according to local GAAP (not IFRS), reliable auditor
• Risk (4): Audit by an unknown firm
• Critical (5): No audit, only management report or unaudited figures

Profitability

Meaning: Profitability indicates whether the business model is sustainable. Persistent losses can be a clear warning signal for investors, as they weaken the capital base and increase the risk of insolvency.

Calculation: Net profit according to the income statement (Profit & Loss statement).

Scale:

• Strong (1): Sustainable profits over several years
• Stable (2): Mostly profits, though minor fluctuations possible
• Medium (3): Low and highly fluctuating profits
• Risk (4): More losses than profits in recent years
• Critical (5): Significant and persistent losses

Return on Assets

Meaning: Return on assets (ROA) is a key profitability metric. It indicates how efficiently a company uses its total assets to generate profits.

Calculation: Net profit / Total assets

Equity Ratio

Meaning: The equity ratio is an indicator of a company’s financial stability and resilience.

Calculation: Equity / Total assets

Debt Ratio

Meaning: The debt ratio measures a company’s dependence on external financing. The higher the debt, the more leveraged the company is, which represents a risk for investors.

Calculation: Debt / Equity

Liquidity

Meaning: The liquidity ratio indicates whether a company can cover its short-term liabilities with cash and short-term receivables.

Calculation: (Cash + Short-term receivables) / Short-term liabilities

Impairments

Meaning: Impairments indicate the proportion of financed loans that have already been classified as risky or defaulted. A low value points to good credit quality and cautious risk management. A high value means that a larger portion of the loan portfolio is likely to default and will be difficult to recover.

Calculation: Impairments / Loan portfolio (gross)

Afranga

For years, Afranga has been used as a financing source for the lending operations of the Stik Credit Group. In recent years, this allowed investors to reliably earn above-average returns of up to 16%.

With its licensing as a European crowdfunding service provider, Afranga began its transformation into a regulated P2P marketplace at the beginning of 2025. This opens up additional diversification opportunities for investors. An overview of the currently available lenders is provided in the table below.

Further information can be found in my Afranga review. New investors who sign up via my partner link receive 0.5% cashback for 90 days.

Bondora

Bondora is one of the largest and most experienced P2P platforms in Europe, which is why the Estonian fintech enjoys a special status among many investors. With Bondora Go & Grow, the platform also offers one of the most popular investment products in the P2P lending space, which has set new standards for simplicity, liquidity, and reliability since its launch in 2018.

The long-standing experience, combined with strong financial metrics, makes Bondora an ideal entry point for new investors who want to quickly and easily gain their first experience in the P2P market.

Further information can be found in my Bondora review. New investors who sign up via my partner link receive a EUR 5 bonus.

Debitum

Debitum Investments stands out in the P2P market due to its unique positioning: it is a regulated platform, operating with a marketplace model, and offers buyback-guaranteed business loans. A combination that cannot be found on any other P2P platform.

Since the change of ownership in August 2023, Debitum has added many new lenders to its marketplace, significantly improving the supply situation for investors. The overview below shows the financial situation of the lenders represented on the Latvian marketplace.

Further information can be found in my Debitum review. New investors who sign up via my partner link receive 1% cashback for 30 days.

Esketit

Esketit is an Ireland-based P2P platform that was founded in 2021 by two experienced fintech entrepreneurs. An attractive mix of established lenders and competitive interest rates provided a strong foundation in its early years.

Since the exit of some lenders, including AvaFin Holding, Esketit has developed into a hub for new fintech startups without a significant track record. The lender overview lists all current alternatives.

Further information can be found in my Esketit review. New investors who sign up via my partner link receive 0.5% cashback for 90 days.

Income Marketplace

Income Marketplace is an unregulated P2P marketplace from Estonia, where investors can invest in buyback-guaranteed loans since 2021, while achieving returns of up to 15%.

The marketplace offers a wide range of different lender profiles, varying by geography, loan terms, and loan products. My overview provides an insight into the financial stability of each lender.

Further information can be found in my Income Marketplace review. New investors who sign up via my partner link receive 1% cashback for 30 days.

Lendermarket

Lendermarket is a spin-off of the Creditstar Group. Notable features include the above-average interest rates, sometimes up to 18%, as well as frequent repayment delays (pending payments).

Since 2022, external lenders have also been offered on the P2P marketplace. An overview can be found in the table below. Further information can be found in my Lendermarket review.

Monefit SmartSaver

Monefit SmartSaver is a spin-off of the Creditstar Group, founded in 2022. This provided the group with an additional financing source for its own loan portfolio.

The SmartSaver product is easy to understand and offers both predictable income and a high degree of liquidity. However, the aggressive financing approach in the past has frequently led to delayed repayments for investors, which is also reflected in the financial metrics.

Further information can be found in my Monefit SmartSaver review. New investors who sign up via my partner link receive a EUR 5 bonus and 0.25% cashback for 90 days.

Nectaro

Nectaro is a P2P newcomer from Latvia that meets all the criteria for long-term success: regulation in Latvia, competitive interest rates, an experienced team, and a large parent company in the background.

On the lender side, the two CreditPrime alternatives from Romania and Moldova are the primary options. While relatively small, they are well-established in their respective markets and have been profitable for years.

Further information can be found in my Nectaro review. New investors who sign up via my partner link receive 1% cashback for 30 days.

PeerBerry

PeerBerry is one of the largest and most established P2P lending platforms in Europe. Its success is primarily based on reliable lenders and an outstanding approach to handling crisis situations.

The repayment of over EUR 51 million in war-affected loans is unprecedented in the P2P sector, highlighting the high integrity and stability of the partners with whom PeerBerry collaborates.

Further information can be found in my PeerBerry review. New investors who sign up via my partner link receive 0.5% cashback for 90 days.

Robocash

Robocash is a P2P platform registered in Croatia, where investors can invest in consumer loans and achieve average returns of around 10%. The P2P platform was launched in February 2017 by the UnaFinancial Group (formerly Robocash Group), which has years of experience in the financial sector.

Robocash does not publish financial results for individual lenders. Instead, investors must refer to the figures of the UnaFinancial Group. The recent significant impairments for loan defaults, the high tax burden (USD 11.4 million), and losses from currency conversions (USD 6.9 million) are clearly reflected in the financial metrics.

Further information can be found in my Robocash review. New investors who sign up via my partner link receive 1% cashback for 30 days.

Swaper

Swaper is an Estonia-based P2P platform that has been active since 2016 and focuses on short-term consumer loans. The loans come almost exclusively from the Wandoo Finance Group, which established Swaper as a financing tool.

Twino

Due to its size and history, Twino is considered one of the pioneers in the P2P lending space. After pursuing an ambitious international expansion strategy in its early years (which hasn’t been successful) the platform’s loan offering has gradually diminished.

In recent years, problems in Russia (war in Ukraine), Vietnam (insolvency), and the Philippines (uncertainty) have left only the Polish lending business remaining on the Latvian P2P platform.

Further information can be found in my Twino review. New investors who sign up via my partner link receive 1% cashback for 90 days.

Viainvest

In recent years, Viainvest has consistently been one of the most popular alternatives in the P2P lending community. This is due to its long-standing reliability and stability, which has been particularly evident during times of crisis. Thanks to attractive interest rates combined with solid risk management, investors have been able to achieve double-digit returns on Viainvest since 2016.

The driving force behind the P2P platform is the VIA SMS Group, a fintech company founded in 2009. In addition to Viainvest, the holding company also offers a range of other financial services.

Further information can be found in my Viainvest review. New investors who sign up via my partner link receive 1% cashback for 90 days.

Denny Neidhardt

denny@rethink-p2p.de | Webseite

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.

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