Introduction
Esketit is an Irish-based P2P lending platform founded in early 2021 by the founders of Creamfinance, which is also the primary loan originator for the platform. Esketit connects investors with borrowers from various consumer loan originators across countries such as Spain, Mexico, Latvia, the Czech Republic, and Poland. The platform supports investments via bank accounts from EU or EEA countries and also offers an option for cryptocurrency accounts or wallets.
Esketit Rating: 3/5
Key Information at a Glance
10-12% annually
€10
No specific regulatory license
€0
Yes
Detailed Review
How It Works
Esketit allows investors to start with a minimum investment of €10 and invest in personal loans structured as interest-only loans, where the interest is paid monthly and the principal is returned at the end of the term. The platform offers a buyback guarantee on select loans, where the loan originator repurchases the investment if payments are missed for more than 60 days.
Esketit primarily lists loans from AvaFin Holding's (former Creamfinance) originators and offers investments in various countries including Spain, Mexico, Latvia, the Czech Republic, and Poland.
Returns & Fees
- Interest Rates: 10% to 12%
- Average Return Since Launch: 11%
Esketit does not charge direct fees to investors. The platform earns revenue from fees collected from borrowers, though the exact fee structure is not disclosed. Since its inception, Esketit has paid back more than €7.70 million to investors.
Platform Features
Esketit offers several features to enhance the investment experience. These include Auto Invest, which allows investors to automate their investments, and a secondary market, providing liquidity by enabling investors to sell their investments before the end of the loan term.
The platform does not withhold taxes on interest earned; investors are responsible for complying with the tax regulations of their respective countries.
Performance and Statistics
Since its launch in 2021, Esketit has raised more than €600 million. The platform has a community of over 21,000 investors. Esketit reports that 6% of its outstanding loans are late by 1 to 15 days, 5% are late by 16 to 30 days, and 6% are late by 31 to 60 days, though it has not provided detailed default rate statistics.
Regulation and Security
Esketit operates without a regulatory license but adheres to strong internal risk management practices. The platform offers a buyback guarantee on select loans, enhancing security for investors by ensuring that the loan originator repurchases the investment if payments are missed for more than 60 days.
Special Considerations
The platform’s founders have extensive experience in the fintech industry, ensuring robust management and strategic growth.
Management and Team
- Co-founder: Matiss Ansviesulis
- Co-founder: Davis Barons
- CEO: Vitalijs Zalovs
The Esketit management team brings a wealth of experience in finance, digital marketing, and team management, ensuring the platform’s growth and stability.
Conclusion
Esketit offers a compelling investment opportunity with attractive returns and a diverse range of loan products. However, the absence of a regulatory license has lowered the overall rating. Despite this, the platform’s buyback guarantee and innovative features make it a viable choice for investors seeking steady, moderate-risk investments.