Afranga Review

Afranga Review

Afranga is a Bulgarian P2P lending platform that allows you to invest in business loans from the Bulgarian lending company StikCredit. This P2P lending platform allows you to earn 13% to 16% interest per year by investing in loans secured by company's assets. Find out more about Afranga in our in-depth review.

Our Opinion of Afranga

Afranga is a smaller, well-established P2P lending platform based in Bulgaria. It serves as one of the funding channels for its lending partner Stikcredit, which has been active in the consumer lending sector since 2013.

However, Afranga does not publish any performance data about its loan portfolio, leaving investors without the necessary transparency to assess loan quality themselves.

Although the platform recently relaunched under a regulated framework, it still lacks several key features such as the two-factor authentication, and auto-invest. In our view, Afranga remains technically underdeveloped.

The main reason investors might consider the platform is the comparatively higher interest rates it offers—typically above those of more robust competitors.

Afranga in Numbers

Afranga launched its operations in early 2021. The platform is backed by the Bulgarian lender Stikcredit, which is well-known among experienced investors.

The platform operated without regular supervision until March 2025, when it reopened as a regulated entity offering business loans to Stikcredit.

Stikcredit started its lending operations in 2013. The company focuses exclusively on lending money to Bulgarian borrowers. The lender issues short-term loans and installment loans for up to 24 months.

Afranga currently offers business loans issued directly to Stikcredit, featuring loan terms of up to 36 months with interest rates ranging from 13% to 16%. These loans come with monthly repayments of both interest and principal. You can find Stikcredit’s latest financial report in the statistics section above. 

Stickredit AD is licensed and regulated by the Bulgarian National Bank.

User Requirements

You need to meet specific requirements to earn interest by investing in loans on Afranga.

Afranga lists loans in EUR, so we recommend depositing money from your EUR account to avoid currency exchange fees. Afranga advises only transferring EUR to your account.

Risk and Return

The risk-return ratio is the most important metric to consider when investing in loans. When investing on Afranga, you are currently only funding loans from Stikcredit, which means that your diversification is limited to just one lender in one market.

As mentioned in the previous section of our Afranga review, Stikcredit is a well-established lending company with a decent track record.

Secured by the company's assets

Business loans offer greater security and transparency for investors. The direct loan structure ensures that the amount owed by the borrower is clearly documented and easily traceable, which significantly simplifies legal recovery in case of default. Investors also have the option to pursue legal action—individually or collectively—against the borrower.

With the new regulatory framework, borrowers are now liable for the entire loan using all their company assets. This is a significant improvement over the previous setup, where investors held fragmented claims on individual loans, making it difficult to determine the exact status or amount recoverable.

Is Afranga Safe?

If you are considering investing in loans, you should thoroughly research the platform’s management and the terms and conditions.

Who Leads the Team?

Afranga is currently led by the COO Yonko Chuklev. Yonko was previously the CFO of a company producing protein balls. He also gained experience in Acuris Risk Intelligence, a London-based company that analyzes user data. Last but not least, Yonko has also worked as an Investment Analyst at Innimmo, a consulting firm in Sofia, Bulgaria.

The core team consists of four more employees responsible for Marketing, Support, and the platform's development.

Who Owns the Platform?

Afranga was founded in December 2020, is funded by StikCredit, and is owned by Stefan Topuzakov, Kristian Kostadinov, and Svetlin Nikolov.

Are There Any Suspicious Terms and Conditions?

Whether you are a pro or just a beginner, it's essential to understand the rights when investing in loans fully. To be safe, read the terms and conditions before depositing any funds on any platform.

Storage of Funds

When depositing your funds on Afranga, the money will be stored in segregated bank accounts. This is a standard procedure for most marketplaces.

Amendments

Afranga may amend its terms and conditions as with any other platform. The platform will inform you about changes five days before the new terms take effect.

While you can’t review the loan agreements as an unregistered user, you can simply sign up for free and head to the primary market to review the documents. Verifying your identity is not required if you just want to look at the assignment agreements between you and the lender.

Usability

Afranga is a very simple platform to use. The design is clean and you can easily navigate to all the essential information that you might require. It’s much easier to navigate than IUVO’s platform, which is also a marketplace from Bulgaria.

Primary Market

The recently re-launched Afranga platform currently does not offer an auto-invest feature. At this time, investments can only be made manually on the primary market, and there is no clear timeline for when auto-invest will be reintroduced.

Liquidity

Afranga previously offered access to a secondary market, allowing investors to sell their loans. To do so, you would navigate to My Investments, select the loans you wish to sell, and confirm your selection.

You would then be redirected to the secondary market view, where you could set a premium or discount for each loan.

The time it takes to sell a loan depends on the loan amount and current investor demand on the platform. Some users have reported successfully selling loans within a day.

At the time of writing this Afranga review, there is no fee for using the secondary market.

Please note: If you're expecting to receive accrued interest, you will need to wait until the loan is fully repaid.

Currently, this feature is not yet available on the newly launched version of the platform.

Support

Afranga’s support is very responsive. The platform answered our questions within 24 hours. Afranga didn’t hesitate to provide further details that are not publicly available on the website, which we appreciate.

You can reach out to Afranga during business hours at support@afranga.com.

Afranga Alternatives

While Afranga offers competitive interest rates, you might want to prioritize platforms that offer a technically better platform, with a larger variety of loans. 

Income Marketplace

Income Marketplace is an Estonian P2P lending platform that allows investors to diversify across lending companies from Europe, Asia, and the Americas.

All loans come with a buyback guarantee, and many lending partners also pledge their loan books as additional security—offering an extra layer of protection for investors.

With returns of up to 15% per year, the platform provides an attractive option for those seeking high-yield opportunities. To learn more, check out our detailed Income Marketplace review.

LANDE

Based in Riga, LANDE is a Latvian investment platform focused on agricultural loans secured by grain, insurance, or other forms of collateral.

The platform stands out for its transparency and strong track record in safeguarding investors’ funds. If you're looking to invest in collateral-backed loans, LANDE ranks among the top choices in 2025. For more insights, read our full LANDE review.

Nectaro

Nectaro is a regulated Latvian P2P lending platform offering high-yield investments primarily from EcoFinance, operating in Romania, Moldova, and the Philippines. The platform features a modern interface and frequently rewards investors with cashback offers—boosting your overall returns.

With interest rates of up to 14% per year, Nectaro is an appealing option for yield-focused investors. Explore more in our in-depth Nectaro review.