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Available worldwide except U.S.

Esketit Review

Updated | 13. November 2024

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Available worldwide except U.S.
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Secured bybuyback
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Earn on average (Per Year) 12.05%

4.5
rating

Chosen 15410 times

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Tested Platform
HIGHLIGHTS
  • Earn up to 12% per year

  • Established lending companies

  • Reliable buyback guarantee

  • Excellent loan performance

RATING
Risk & Returnnumber of stars
Usabilitynumber of stars
Liquiditynumber of stars
Supportnumber of stars
FEATURES
checked iconBuyback Guarantee
checked iconAuto Invest
checked iconSecondary Market
checked iconCashback
closed iconRegulated
DIVERSIFICATION
Min. Investment 10
Loan Originators7
Loan Period in Months1 - 36
Countries6
Loan TypeConsumer
Interest7% - 12%

News

Statistics

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Outstanding portfolio:€50.434,334
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Performing portfolio:€50.434,334
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Non-performing portfolio:€0
100%Performing
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Investors' earnings:

€ 10.250,000

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Loss of investors' money:

€ 0

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Average portfolio size:

€ 5.739

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Year founded:

2020

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Number of investors:

23.293

Portfolio Evaluation:

As of December 2024, 100% of Esketit’s portfolio is performing as expected, with no loans in recovery. This demonstrates Esketit’s excellent track record in protecting investors’ funds. Thanks to their superior risk management, you can expect to earn the advertised returns.

We consider Esketit's statistical data to be reliable. The platform consistently publishes regular and relevant updates on its portfolio quality, ensuring transparency and informed decision-making.

Disclaimer:

This statistical information has been sourced from the platform's website and we cannot independently verify its authenticity. Therefore, we recommend conducting your own research, staying updated on the company's latest developments, and reading our Esketit review to enhance your understanding of the platform. Be aware that geopolitical risks, regulations, and force majeure events may negatively impact your portfolio.

    Table of contents

Table of contents

Esketit Review Summary

Esketit is one of the most reliable P2P lending platforms in Europe, offering an average return of 12.20%. It was voted one of the top P2P platforms by our community in year.

Main Takeaways From Our Esketit Review:

  • 60-day buyback obligation on most loans
  • Higher interest rates
  • Operating from Latvia
  • Reliable & stable income

If you believe Esketit is a good fit for you, sign up with our link to get a 0.5% cashback bonus.

Ready to let your money work for you?

What is Esketit?

Esketit is a P2P lending platform owned by the founders of the international lending group AvaFin (formerly CreamFinance). On Esketit, you can invest in loans from Jordan, the Czech Republic, Poland, Latvia, Liechtenstein, or Spain with an average annual return of 11%.

Is Esketit worth your investment? Find out in our in-depth Esketit review.

esketit review

Pros

  • Reliable buyback and group guarantee
  • High interest rates
  • Modern P2P lending platform
  • Instant Exit Option
  • No fees

Cons

  • Not regulated

Learn how Esketit works in our video review.

Our Opinion On Esketit

Esketit has consistently ranked as one of the top-performing P2P platforms in Europe, safeguarding investors' interests even during challenging geopolitical events.

Since April 2022, we’ve maintained an active portfolio on Esketit, and our experience has been nothing short of excellent. Despite occasional limitations in loan availability, the Auto Invest feature has consistently deployed our funds within a few days, depending on market conditions.

Our preferred strategy is to focus on loans from AvaFin and Utopia, both reliable lenders in the global market. You can check out our current Esketit exposure on our P2P portfolio page.

While AvaFin is a strong player, it’s important to be aware of the risks associated with investing in unsecured loans. Regulatory changes could impact the company’s performance, which may affect your portfolio returns.

We’ve taken our due diligence a step further by visiting AvaFin’s headquarters in Riga, meeting with the founders of Esketit, and having multiple discussions with the CEO about the platform’s ongoing developments.

As of month year, Esketit remains one of Europe’s best-performing P2P lending platforms, and our loan performance has been outstanding.

esketit review 2023

Our return exceeds 12% per year by investing in well-performing loans. Keen to join as well?

Esketit Bonus

Esketit offers an optional Esketit promo code, which you can type in during registration. However, this is not required to get a cashback bonus. We have negotiated a 0.5% referral bonus for our readers on P2P Empire.

Signing up with our link will give you a 0.5% cashback bonus from your invested amount during the first 90 days after your registration.

esketit bonus

Loyalty Bonus

If you are keen to invest a higher amount, you can benefit from Esketit's loyalty program, where you can increase your return by +1%.

If you invest more than €25,000, you will get +0.5% interest in addition to your annual return. If you invest more than €50,000, you will get +1% on top of the standard rate.

Remember that the loyalty bonus is only applied to your investment in Jordan loans.

Ready to get your Esketit bonus?

Requirements

To be able to invest on Esketit, you need to fulfill specific requirements:

  • Be over 18 years old
  • Pass the KYC
  • Verify your identity
  • Verify your bank account (IBAN)

If you don’t have a euro bank account with a dedicated IBAN, you can open a free N26 account, as explained in our N26 review, or a Wise account with a dedicated Wise Card.

Risk & Return

Investing in loans is risky, and you might lose your money. Esketit offers a 60-day buyback obligation for loans from AvaFin and Money for Finance.

Loans from the Czech Republic and Spain lending companies have an additional group guarantee.

esketit loan originators

Loan availability is subject to market conditions.

Buyback Obligation & Group Guarantee

The buyback obligation is the lending company's commitment to repurchase a loan if the borrower is more than 60 days late in repayment.

The group guarantee is a safety net, where the financial group steps in to cover the lender’s buyback obligation if the lender itself cannot fulfill it.

It’s important to note that not all loans on Esketit come with a group guarantee, and AvaFin only offers this guarantee for its lenders. The lending company in Jordan, while owned by the same individuals, is not part of the AvaFin group.

Both the buyback obligation and the group guarantee depend heavily on the financial health of the lenders or the finance group backing them.

Let’s take a closer look at some of AvaFin’s financial results.

Report Net Profit/Loss
2023 € 7.893.992
2022 € 8.296.358
2021 € 3.403.510
2020 € - 829.213
2019 € 660.619
2018 € 1.567.010
2017 € - 385.150

It’s worth noting that BDO audits all the reports in Cyprus, where AvaFin is legally based.

AvaFin’s Portfolio

AvaFin (also known as Creamfinance) diversifies its funding by sourcing capital from another crowdfunding platform in Japan, while listing loans from lenders in the Czech Republic and Spain.

During our visit to Creamfinance's headquarters in Riga, we learned that Spain presents significant challenges for AvaFin. Despite this, the company sees strong potential in the Spanish market and is committed to improving its portfolio quality there.

creamfinance portfolio

A key aspect of AvaFin’s strategy is how it manages portfolio quality. In most European markets, the company sells off bad loans to collection agencies at a 50% discount, ensuring that non-performing assets don’t weigh down their loan book.

The default rate in AvaFin’s established markets generally remains below 10%. Even if 10% of the loans default and are sold at a 50% discount, the net loss is only around 5%, which is typically absorbed by the lender’s profits.

This practice of selling off non-performing loans is common in the lending industry and helps maintain a healthy portfolio.

Investing in defaulted loans from Spain

Esketit’s founders have recently launched a new venture offering investments in discounted defaulted loan portfolios in Spain.

The new loan originator, Spanda Capital, is raising funds from investors on Esketit with a 24-month loan term and an attractive 12% annual yield (APY). For the first six months, investors will receive only interest payments, followed by proportional principal repayments over the remaining 18 months.

This is how the business model of Spanda Capital works:

  1. Spanda Capital buys a bad lending portfolio at a discount (50% - 60%)
  2. The company then forwards a portion of the bad portfolio for recovery to a debt collection agency
  3. The debt collection agency recovers the bad portfolio with additional fees
  4. Spanda Capital takes a cut and returns the principal with accrued interest to investors

On average, it takes two years to recover a defaulted portfolio in Spain, which is why Spanda Capital offers a 2-year loan term, providing investors the opportunity to earn 12% interest over the 24-month period.

p2p lending platforms 2024

Investing in Jordan

Jordan presents an attractive opportunity for P2P investors, offering competitive returns. Esketit currently provides a 12% interest rate on investments in loans from Jordan. Let's take a closer look at this market.

esketit-jordan

On Esketit, you can invest in unsecured consumer loans issued by Money for Finance, a lending company owned by the founders of Creamfinance and Esketit. The company offers loans of up to €130 for new borrowers and up to €240 for repeat borrowers, with a 30-day term. Notably, more than half of borrowers choose to extend their loan repayment period.

Money for Finance has been operating in Jordan for five years, and the default rates are lower than in many European markets where Creamfinance has been active for over a decade. This is largely due to Jordan's strict payment discipline.

While Jordan is an emerging market with inherent risks, it remains a promising one. The company follows the rules set by the Ministry of Industry and Trade and does not require a lending license to operate. Most loans are issued in cash to borrowers with regular incomes, and the effective APR charged to borrowers is around 200%.

In terms of country risk, Jordan offers some stability. The Jordanian dinar is pegged to the US dollar, eliminating currency fluctuation concerns, and political risk is considered low. The lender expects new regulations within the next two years.

However, it's important to be aware of the potential country risks, as Jordan shares borders with regions in conflict. While the CEO of Esketit confirmed in October 2023 that operations in Jordan remain stable, investors should carefully consider the regional conflict when assessing the risk of lending in this market.

Direct investment in Money for Finance

Esketit started offering the possibility to invest directly into the development of the lending company Money for Finance in Jordan via a business loan channeled through MD Investments SIA in Latvia, which owns the lending originator in Jordan. You can find this investment on Esketit's primary market.

Investing in USD loans

Esketit also allows you to invest in USD loans from Money for Finance in Jordan. 

To invest in USD loans, you must deposit USD in Esketit's Swiss bank account and then switch the currency to USD to retrieve the bank account information.

esketit-usd-transfer

After you deposit USD into your Swiss bank account, you can invest your available balance in the primary market. 

esketit-usd-primary

Alternatively, you can also automate your investments with Esketit Strategies, saving you time apart from generating a 13% return on your investments in USD loans on Esketit. 

esketit-usd-auto-invest

Remember that by investing in USD, you are exposed to currency fluctuation.

Investing in external loan originators

As demand for investments on Esketit grows, the platform has started onboarding external loan originators to diversify offerings.

The first external partner is Aksioma 24, which provides Latvian mortgage loans with a 7% interest rate and a 36-month term.

The loan-to-value (LTV) ratio for these loans ranges from 45% to 60%, and each loan is backed by a mortgage. Interest payments are made monthly, with principal repayments starting in the second year and spread proportionally over the remaining term.

Investing in loans backed by music royalties

Esketit continues to expand its assets under management and has partnered with i2 Group to announce a strategic collaboration with Utopia, an international music distributor.

Through Lyric, a subsidiary of Utopia responsible for its lending operations, investors can now access loans backed by future music royalties.

These loans have a 12-month term with a 9% annual interest rate. Utopia and Lyric have historically maintained a default rate of under 1.5%, which accounts for the lower interest rates offered to investors.

Let's have a look at Utopia's and Lyric's business model:

  1. Lyric lends money to the artist at a 20% effective rate
  2. The cash advance is backed by the future royalties generated by the music that the artist produces
  3. The royalties are collected and transferred to the SPV, which is controlled by Esketit and i2 Group
  4. The SPV repays investors and transfers the remaining funds to Lyric
  5. If the music royalties exceed the loan amount, the remaining funds are transferred to the artist

Since Utopia manages the repayment of music royalties, it can accurately predict song revenue, providing greater confidence in loan performance. It's important to note that while investors provide funds to the SPV based in Liechtenstein, the actual cash advances are distributed to artists in the United States and the UK.

Is Esketit Safe?

Esketit has been operating since 2021 without any capital loss for investors. Let's explore the risks and safety features that you must consider before investing in Esketit.

Get insights about the Esketit operation here:

Who Leads the Team?

Vitālijs Zalovs is the CEO of Esketit and, therefore, in charge of the platform's operations. He has previous experience working at Mintos.

Are you curious about Esketit's plans for year? Watch the following video to learn more about Esketit's strategy for this year.

Who Owns the Platform?

Esketit is owned by the co-founders of the AvaFin Group, Davis Barons, and Matiss Ansviesulis. Both gentlemen have an impressive track record of growing their companies.

Are There Any Suspicious Terms and Conditions?

When using a P2P lending platform, you should always review the terms and conditions to understand your rights and obligations.

Storage of Funds

Using Esketit, you must send your funds to Esketit’s bank account. The platform doesn’t provide you with individual IBAN accounts. According to the T&C’s, your funds on Esketit are stored separately from the platform's funds.

esketit funds
Amendments

Esketit reserves the right to amend the terms and conditions at any time. The platform will inform you about any changes via email; however, it does not state the time frame you have to accept or decline those amendments.

Access to Loan and Assignment Agreements

The assignment agreement is unavailable for unregistered users; however, if you sign up, you can review a sample agreement by navigating to it on the primary market.

esketit review

Potential Red Flags

  • Esketit may amend the terms and conditions before notifying you in advance.

Usability

Esketit offers an Auto Invest feature that streamlines the investing process, saving you time by automatically allocating funds according to your chosen criteria.

Auto Invest

esketit auto invest

The Auto Invest feature lets you customize key loan parameters, including loan amount, interest rate, loan term, countries, loan types, and loan originators.

Keep in mind that only Esketit's automated strategies offer "instant cash-out" under normal market conditions. If you invest using a custom Auto Invest strategy, you'll need to use the secondary market to sell your investments.

Are you wondering how Esketit compares to PeerBerry? Check out our comparison Esketit vs PeerBerry.

If you have invested on other P2P lending sites, investing on Esketit will be very straightforward. The platform also allows you to invest in the primary or secondary market. 

🧾Does Esketit deduct taxes?

Esketit doesn't tax your earnings. However, you can download income statements for tax purposes in your dashboard, which you may submit to your tax authorities when you file your taxes in the nation where you are a tax resident. For more info, visit our article about how to tax income from P2P loans.

Liquidity

Esketit offers a secondary market to enhance the liquidity of your investments. The time it takes to sell depends on the discount you offer and current market conditions.

By applying discounts, you can accelerate the sale of your investments on the secondary market.

During our Esketit review, we observed that a wide range of loans are available on the secondary market, providing investors with ample opportunities for liquidity.

Esketit Automated Strategies & Instant Exit

Esketit offers three automated pre-defined investment strategies that help you diversify your portfolio with just one click.

  • The Diversified strategy allows you to distribute your investments to all available loan originators.
  • The Jordan strategy allocates your investments only into all loans from Jordan, including long-term business loans.
  • The AvaFin strategy diversifies your investments across lenders that belong to the AvaFin Group (formerly CreamFinance) and offer the group guarantee.

The distribution of investments in AvaFin loans under the Diversified strategy is based on market availability. This means that your investments in loans from Spain, Poland, and the Czech Republic won't be distributed equally.

All three strategies offer an instant exit option. To withdraw funds, you can create a strategy, click on “edit,” and use the “cash-out” option.

esketit strategies

Keep in mind that the “cash-out” option is designed to function primarily under normal market conditions.

For it to work, other investors must be using the same strategy. When you activate the “cash-out” option, other investors will take over your loan investments.

Support

Our experience with Esketit's support has been positive, a sentiment echoed by many investors in Trustpilot reviews. The platform typically responds to our inquiries within one business day. You can reach their support team via email at support@esketit.com.

Additionally, Esketit manages a Telegram group where the CEO actively engages with investors and answers their questions.

Esketit Alternatives

Esketit is among the best P2P lending platforms in year, so the number of suitable alternatives is relatively low. If you prioritize diversification and wish to expose your portfolio to various loan types in different regions, these alternatives might be a good fit for you. 

Income Marketplace

Income Marketplace is an Estonian P2P lending marketplace that enables investors to invest in multiple lending companies in Europe, Asia, and America.

A buyback guarantee backs all the loans, and many lenders pledge their loan books to increase the safety of your investments. The platform offers loans with a yield of up to 15% per year. To learn more about this investment platform, read our Income Marketplace review.

LANDE

LANDE is a Latvian platform that offers investments in agricultural loans backed by grain, insurance, or other types of collateral.

The platform is headquartered in Riga, just a few minutes from Esketit's headquarters. Like Esketit, LANDE has an excellent track record in protecting investors' interests. If you want to invest in secured loans, LANDE is one of the best options in year. Read our LANDE review to learn more about the platform.

Fintown

Fintown is a newly launched platform from the Czech Republic. This crowdfunding site offers investments in rental properties in Prague's city center. You can earn between 10% and 12% interest per year, which is paid out from the revenue generated by the short-term rental apartments.

Fintown was co-founded by the Managing Director of Creamfinance CZ, which also funds loans on Esketit. The platform offers exciting terms and pays out interest every month. Learn more about Fintown in our Fintown review.

author

Jakub Krejci

Founder

Fact

Checked

Jakub Krejci, the founder of P2P Empire, brings six years of expertise in navigating and investing across diverse P2P lending platforms. Drawing insights from over 50 interviews with industry CEOs and founders, Jakub offers a unique perspective in the peer-to-peer lending realm. Renowned for his high-quality reporting and regular updates, Jakub stands as a trusted authority for individuals navigating the dynamic P2P investment landscape.

Editorial Note: We earn a commission from partner links on P2P Empire. Commissions do not affect our editors' opinions or evaluations of products.

FAQ

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Is Esketit reliable?

Esketit has been operating for over two years and is backed by founders who are experienced professionals with an excellent track record in the lending business. Investors on Esketit have funded loans worth €654 million without any capital loss, indicating that Esketit is a reliable platform.

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Is Esketit regulated?

Esketit is legally based in Ireland, where P2P lending marketplaces aren't regulated. Therefore, the platform itself is not regulated. However, the lenders listing loans on Esketit must have the required licenses to operate their businesses in their respective countries.

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What is the interest rate of Esketit?

Esketit offers investments with interest rates ranging from 7% to 12% per year.

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How does Esketit work?

Esketit is a P2P lending marketplace connecting companies seeking funding with investors looking to earn interest. The platform facilitates transactions between lending companies and investors.

COMPANY INFORMATION

  • Company:
  • ESKETIT PLATFORM LIMITED
  • Legal Address:
  • 77 Lower Camden Street Dublin 2 D02 XE80, Ireland
  • Office Address:
  • 8 Strelnieku, Riga, LV-1010, Latvia
  • Email:
  • support@esketit.com