Posted by Since January 2019, the P2P Portfolio Update has been a regular feature on my blog. Each month, investors receive a transparent overview of the developments in my personal P2P lending portfolio, including income, performance, transactions, and portfolio value.
Additionally, I cover potential changes or adjustments at the P2P Platforms included in my portfolio. Detailed platform analyses can be found on the P2P Platform Reviews page.
For up-to-date information, I recommend following my Telegram or WhatsApp channels, where timely reactions, evaluations, and insights are shared as soon as new developments occur.
P2P Portfolio Update: April 2026
Here is the current state of my personal P2P lending portfolio as of the end of March 2026.
Income
In March 2026, I was able to generate EUR 1,448 in income from my outstanding P2P lending portfolio. Looking at the historical data, this represents the fifth-highest earnings I have achieved in eight and a half years with my P2P portfolio.
In the previous month, no new income records were achieved on individual P2P platforms.
Performance
The best overall performance in my P2P portfolio is coming from Nectaro with 16.8%. The reason for the above-average return is my somewhat more active investment approach, which is tailored around the various bonus campaigns.
In second place is Debitum with 13.9%, followed by Afranga with 13.3% and Income Marketplace with 13%. The negative front-runner is Estateguru, where my overall return has turned negative for the first time (-1.7%).
Transactions
Last month, there were a total of six new transactions in my P2P portfolio.
Deposits: EUR 7,000
- Monefit SmartSaver: EUR 5,000. The funds are deployed into the main account, which earns with 7.5% APY, in order to maximize liquidity.
- Twino: EUR 2,000. My position on Twino continues to grow. The new funds are invested in Polish Asset-Backed Securities, which pay 12% interest with a 12-month term.
Withdrawals: EUR 1,884.29
- Estateguru: EUR 1,029.29. The overall development at Estateguru prompted me to now sell my loans, which have been in default for years, at dumping prices via the secondary market. I managed to sell the international loans with a 50% discount, while the German loans found new owners with approximately 70% discount. Although I was able to withdraw around EUR 1,000 from Estateguru, my overall return has now turned negative for the first time. With still 25 remaining loans in my portfolio, the probability that I will incur a capital loss on a platform for the first time is therefore extremely high.
- Nectaro: EUR 500. Until the next bonus campaign, which conveniently started in April, I am withdrawing all freed-up funds from Nectaro.
- Crowdpear: EUR 250. Last month happened a few smaller loan repayments. Accordingly, I was able to withdraw the funds from my account in March.
- Mintos: EUR 105. At Mintos, I have fully withdrawn the coupon repayment from my Esto bond.
Overall, the net deposit and withdrawal ratio in the previous month was EUR 5,115.71.
P2P Portfolio
In March 2026, the value of my outstanding P2P portfolio increased from EUR 198,306 to EUR 202,860. Therefore, I was able to break through the 200K mark for the second time.
The liquidity-oriented portion of my P2P portfolio, consisting of Bondora Go & Grow and Monefit SmartSaver, amounted to €51,883 (25.6%).
P2P Lending Update: April 2026
Next up, a summary of the most important events and developments that have recently happened in the P2P lending industry. Details on loan originator developments can be found on my lender overview and comparison page.
PeerBerry: EUR 120M Portfolio (Record)
For the first time in the platform’s history, PeerBerry manages an investor portfolio of more than EUR 120 million. Paired with a default rate of 0%, this represents a track record that is unmatched in the P2P market.
But this is not meant to be the end. The Aventus Group plans to increase the loan supply in April 2026 by up to 20%. Additionally, further growth is expected in the coming months, when new lenders from Australia, Canada and the USA are set to be introduced.
PeerBerry is a never-ending success story. In the context of my portfolio growth, additional funds could therefore flow to the marketplace, which would further expand my largest P2P position.
Bondora: Go & Grow Goes Independent
This week, Bondora announced that Go & Grow will be spun off from the Bondora Group as an independent company. The legal entity behind the product, Bondora Capital OÜ, was already renamed “Go&Grow OÜ” on 20 April 2026. For investors, nothing changes operationally for the time being. The product, returns, and liquidity model remain unchanged.
What is behind this decision? From my perspective, three motives are plausible:
- Establishing a cleaner regulatory structure for the Go & Grow product
- A preparatory step towards a banking licence application
- Greater strategic flexibility with regard to a separate capitalisation or a potential IPO
A more detailed analysis, including open questions, is available in my recent article on the Bondora spinoff.
Income Marketplace: Two New Lenders from Asia
With Mocasa and Pinjam Yuk, Income Marketplace has brought two new lenders from Asia onto the platform in recent weeks.
The business results of Mocasa are extremely mixed and do not necessarily invite for an investment. On top, the Mocasa loans are supposed to be secured by pledges of the underlying consumer loan portfolio, for which no information is available, as well as by a group guarantee from Mocasa Holding Ltd, for which no business results are available either. Given the historically difficult market environment in the Philippines, paired with a lender that has yet to prove a profitable business model, I find the risk profile to be significantly too high. For me personally, Mocasa is therefore not a suitable lender for my own portfolio.
Considerably more promising, on the other hand, is the Indonesian fintech company Pinjam Yuk, whose profile is strongly reminiscent of Danarupiah: Based in Indonesia, instalment loans with up to 15% interest and short terms of up to 94 days. In 2025, net profit was USD 44.1 million and the balance sheet figures are consistently positive, with the exception of the portfolio quality (33% impairments). The reporting standard and the strongly debt-driven growth are worth noting. In my view, the lender is not an anchor position, but could be taken into account as a supplementary addition to one’s own portfolio.
A more detailed assessments of both lenders are accessible in my community channels on Telegram and WhatsApp.
Monefit SmartSaver: Is the Liquidity Worth the Risk?
A lack of transparency, pending payments, high risk. The problems and the narrative surrounding Creditstar are well known and quickly told. Nevertheless, I have been investing with Monefit SmartSaver since June 2025, a product from the Creditstar ecosystem.
In a recent blog article, I covered last year’s developments on the platform, how Monefit SmartSaver is currently positioned, and how I specifically use the product for myself.
In addition, the article includes a very detailed risk analysis. What should investors be aware of? Is the promised liquidity worth the risk? And for whom could an investment in the Estonian “savings account alternative” be worthwhile?
Mintos: 2025 Financial Results
Mintos has recently published an audited annual report (KPMG Baltics; IFRS standard) for 2025. As in the previous year, a loss of approximately EUR 2 million was recorded. While revenue increased by 17% to EUR 14.1 million, operating costs also continued to rise. Particularly strong increases were seen in staff costs (EUR 6.5 million; previous year: EUR 5.1 million) and investments in new IT systems (EUR 3.8 million; previous year: EUR 2.8 million).
Mintos’ strong growth pace is also reflected in the balance sheet figures. While the operating business is already generating a positive cash flow (EUR 1.38 million), investments in growth (EUR 3.72 million) are still considerably larger.
To offset the ongoing losses, Mintos therefore carried out a capital increase in the first quarter of 2026, with an additional EUR 2.2 million being injected.
Nectaro: 2025 Financial Results | CEO Podcast 2026
Recently, also Nectaro has published its business results for last year. The figures were audited by BDO and reviewed in accordance with IFRS standards. Accordingly, the Latvian P2P platform recorded a loss of EUR 1.42 million. As was to be expected, Nectaro continues to burn a lot of money for their growth. The accumulated losses have now reached EUR 2.7 million.
Investors should not panic for the time being though. Nectaro’s primary purpose is to enable financing for the lending business of Dyninno Fintech Holding Limited (DFHL). Profitability is nice, but it is also not a priority within the actual business model.
In the “Going Concern” section, it was communicated that the parent company (DFHL) has committed to providing the necessary financial support and that the company’s share capital will be increased quarterly in 2026 to the required capital level in order to finance the operational loss phase. Note 24 confirms that the share capital has already been increased to EUR 3.62 million after the balance sheet date (an increase of EUR 350,000). This demonstrates that the parent company is also following through on its commitments.
On the question of how things will develop at Nectaro in 2026, I recently spoke with CEO Sigita Kotlere. We talked about new asset classes, why a secondary market is now once again an option for 2026, and what the outlook looks like for both existing and new lenders on the Latvian marketplace.
TWINO: 2025 Financial Results
TWINO has also published its business report for 2025, which was prepared by BDO Assurance and audited in accordance with IFRS standards. Accordingly, a profit of EUR 92,309 was achieved in 2025 (2024: EUR 362,385). The decline in profit compared to the previous year is mainly attributable to declining commission income (–14%), combined with rising marketing expenses (+192%) and IT costs (+51%).
Due to the decline in profit, the return on assets decreased from 3.6% to just 0.9%. The equity ratio, however, is exceptionally high with 87.5%. TWINO is therefore hardly dependent on external financing and is financially very independent. This is confirmed by a debt-to-equity ratio of 0.14.
The liquidity ratio is also very comfortable with 5.21. Current assets exceed short-term liabilities by a factor of five, which means that the risk of insolvency is almost out of question. Overall, the balance sheet structure can be assessed as conservative and healthy.
Debitum: 2025 Financial Results | LFDF Article
Debitum has also published a business report for 2025, prepared by BDO Assurance and reviewed in accordance with IFRS standards. Accordingly, a profit of EUR 507,000 was achieved in the 2025 financial year. The Latvian P2P marketplace has thereby been profitable for the second year in a row.
The balance sheet has also improved compared to the previous year. The return on total assets of 10.2% is in a very strong range, as is the equity ratio with 70.3%. Furthermore, the debt-to-equity ratio (0.42) has also decreased for the third consecutive year. Also positive: The company has recovered from the accumulated historical losses of the past. The retained earnings stood at EUR 55,267 at the end of the 2025 financial year.
A major topic in recent weeks has been the serious allegations against the Latvian Forest Development Fund, by far the largest lender on Debitum. These included inflated price markups by affiliated insider companies, an unexplained inventory gap of EUR 24.6 million, as well as incorrect disclosures in annual reports.
In my updated LFDF article, there is now a structured analysis and assessment of all the key points of criticism: What exactly are the accusations against the LFDF, how has Debitum responded publicly and to my direct enquiries, and how is the situation to be assessed from an investor’s perspective?
In addition, there is an evaluation of the unaudited financial figures for 2025, a new finding regarding the buyers of the logging rights, and what personal consequences I have drawn from the current state of information.
Esketit: Interview with Founder Matiss Ansviesulis
Esketit has had a difficult year in 2025. Established lenders have departed, new management, a botched relocation to Croatia, restricted liquidity for investors, and overall a more than unsatisfactory communication policy. The fact that Esketit founder Matiss Ansviesulis agreed to do an interview where these topics could be addressed can be seen as a positive signal.
Matiss, whom I have appreciated over the years for his straight talking, did not disappoint in the current interview either. He spoke openly about the mistakes on Esketit’s part during the relocation process, considerations regarding licensing in Latvia, business activities in the Middle East, cooperations with external lenders, as well as Esketit’s future vision.
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.