I’m thinking about keeping track of the financial reports the p2p lending platforms I invest in issue annually.

It’s a way of keeping track of how each platform is evolving, how they’re following up on their plans, and also maybe predict when things might get ugly.

I’ll try to keep track of the following:

  • revenue and earnings figures from one year to another
  • lending amounts, number of investors, investment stats
  • platform changes and future plans

For now, the only platforms I’m invested in that are transparent enough and make public their annual reports are:

  • EstateGuru
  • Mintos
  • Neo Finance
  • Crowdestate

Twino and Bondora also issue annual financial reports but I’m not invested in them anymore so, for now, I’ll ignore them.

I’m still waiting for the day when these platforms will start publishing their annual statements:

  • Abundance
  • Bondster
  • Bulkestate
  • Crowdestor
  • Debitum Network
  • doFinance
  • Envestio
  • Fast Invest
  • Flender
  • Grupeer
  • Kuetzal
  • Monethera
  • PeerBerry
  • Robocash
  • TFG Crowd
  • ViaInvest
  • Viventor

These being said, below are my concentrated notes.

EstateGuru

2018 report. Publoshed in July 2019. Company profitable. All reports here.

EstateGuru has been growing more than twice each year. More than 700 loans issued amounting to 125 million EUR. Nearly 25000 investors from 109 countries.

loan types:

  • bridge loans 43.98%
  • business loans 21.96%
  • development loans 14.46%
  • refinancing loans 9.49%

In 2018 EstateGuru experienced first defaults and were solved successfully with no capital loss.

portfolio stats as of July 2019:

  • in default: 2.4%
  • late 3.9%
  • funded 50.5%
  • repaid 43.1%

Capital under management as of July 2019 is 72.8 million EUR. Average LTV decreased to 57.55%.

financial ratios:

  • debt to equity (total liabilities/ equity) 1.4 (4.03 in 2017)
  • current ratio (current assets/ current liabilities) 1.04 (1.65 in 2017)
  • return on equity (net income/ equity) 0.74 (-0.34 in 2017)
  • net profit margin (net profit / net sales) 0.07 (-0.02 in 2017)

revenue 1.650.904 vs 746.941 in 2017

Net income 119.259 EUR (-75.959 in 2017)

Cash and cash equivalents at 31 december 136.583 compared to 121.489 at 1 january

Mintos

All reports here.

2018 report. Published in April 2019.

Investor base more than doubled in 2018, reaching almost 100.000 investors.

Investments more than tripled from 332 million in 2017 to 1044 million in 2018.

Number of employees grew from 36 to 59 and moved to a new office.

loan originators increased from 27 to 58, increasing number of countries from 13 to 28.

Revenue increased from 2,137 million to 4,647 million.

Profit 13.496 in 2018 (195.749 in 2017)

Cash at the end of the year 90.330 (compared to 69.601)

Changes:

  • added lender ratings
  • 2-factor authentication
  • auto-invest includes secondary market
  • direct bank transfer
  • received AltFi’s “People’s Choice Award” 2018

Plans to lauch banking card after obtaining e-money license at the end of Q3 2019.

financial ratios:

  • debt to equity: 0.98 vs 1 in 2017
  • current ratio: 1.48 vs 1.69 in 2017
  • return on equity: 0.02 vs 0.27 in 2017
  • net profit margin: 0.003 vs 0.09 in 2017

Neo Finance

All reports here.

2018 report. Published in April 2019

While numbers are better than in 2017, they’re still bad.

Launched Payment Initiation Service, a payment service.

financial ratios:

  • debt to equity: 4.39 vs 2.04 in 2017
  • current ratio: 1.2 vs 1.26 in 2017
  • return on equity: -0.48 vs -1.05 in 2017
  • net profit margin: -0.45 vs -1.66 in 2017

 

revenue 1.015.730 vs 479.424 in 2017

net profit: -452.887 vs -795.642 in 2017

 

In June Neo Finance finished its IPO and is listed on Nasdaq Baltics.

added short term loans

Active borrowers 6101 in Q1 2019, from 5400 in Q4 2018. Active lenders 6590 in Q1 2019 vs 5755 in Q4 2018.

Average portfolio 3062 eur.

Neo Finance also invests in the loans. Since December 2015, its investments reached 2.69 million EUR. in Q1 2019 Neo Finance invested 573.000 eur in loans.

Out of 11516 issued loans:

  • 948 (8.23%) overdue by more than 90 days (out of 30.3 million EUR financed 3.12 million EUR, or 10.29% overdue by more than 90 days )
  • signed new contract with EOS Holding GmbH to speed up cross-border recovery
  • in Q1 2019, 90K eur loans recovered

loan stats:

  • rated A: 3.3% overdue
  • B rating: 9.78% overdue
  • C rating: 18.7% overdue

recovery stats:

  • 24 months after termination: 80.7%
  • 27 months: 85.4%
  • 30 months: 94.9%

Provision fund: in Q1 2019 reached 296.115 eur and covers 2.453.986 eur loans, 12% coverage ratio

buybacks: in Q1 2019, lenders sold 3879 investments for 60.769 eur

secondary market transactions reached 182.581 eur in q1 2019

 

Crowdestate

2018 report here.

Crowdestate has local teams in Estonia, Latvia and Italy. They want to expand in other 1-2 countries in 2019.

73 projects worth almost 28 million EUR funded in 2018.

in total, 122 projects worth a bit over 50 million eur funded.

25 investments made successful exits. total exits 43. average annual return for the 43 investments was 20.42%.

2 projects defaulted in 2018.

investor number 26672, increase by 8543.

revenue 1370525 eur vs 654.225 in 2017

net profit: 493.192 eur vs 181.582 in 2017

financial ratios:

  • debt to equity: 0.14 vs 0.30 in 2017
  • current ratio: 6.93 vs 4.13 in 2017
  • return on equity: 0.5 vs 0.44
  • net profit margin:  0.36 vs 0.28

Twino

2018 report here. Published in May 2019

All reports here.

Bondora

2018 report here.

 

Robocash

Promised in 2019.

Some highlights on company financials here.

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