Who are the best lenders on Viventor? Our Viventor lender ratings

Latest update: 25 September 2020

Viventor is a multi-lender P2P investment site. Like Mintos, but much smaller

Viventor is a European P2P investment site that has been quietly growing and adding lenders to its platform over the last 12 months. So far investors have purchased €115 million of loans and the platform now offers loans from 16 different lenders. The rates offered by Viventor tend to be high – the average investor returns have been over 13% to date.

Viventor has an interesting selection of lenders, most of which do not appear on any other P2P sites. Several lenders offer secured loans  that are backed by invoices, real estate and cars. There are also several short term unsecured lenders who provide buyback guarantees. Viventor is owned by Finstar Financial Group, which is a $2bn private equity fund that is focused on Fintech investments. 

The quality of information provided about lenders varies a lot

We think it’s important to assess the quality of each lender before purchasing any loans on Viventor. That’s because most lenders provide buyback guarantees, so the investor will be relying on the lender to fulfil this guarantee when loans default. It is also important to get an understanding of how big each lender is, how well capitalised it is, and what’s it track record. 

Some lenders have provided useful corporate presentations and recent financial information while others have not provided anything particularly useful. In those cases we have purchased financial reports from the local government commercial register office to help us assess each company and provide this information to investors here.   

Viventor lenders - key financial information

Viventor Lender Reporting period Loans Equity P&L - latest P&L - prior year P&L - 2 years ago Audited
Credissimo / Maxo.BG Dec 2019 21.5 16.1 2.5 3.2 Yes
Lenno Dec 2018 8.8 2.9 1.0 0.2 Yes
Stikcredit Dec 2019 4.3 3.1 1.6 0.9 Yes
Kreditu Centras Dec 2019 2.5 0.7 0.4 0.2 -0.1 Yes
Ibancar Dec 2019 1 0.5 0 0 0 No
Moment Credit Dec 2019 7.7 4.1 0.4 0.2 0.5 No
Kviku Jun 2020 14.0 2.4 0.4 0.8 0.6 Yes
CBC (suspended) Dec 2019 4.2 -0.8 -1.5 -2.1 0.1 No
Twinero / Presto (suspended) Dec 2018 2.2 -1.5 0.1 0.3 -1.8 No
Atlantis Financiers Dec 2019 10.7 1.2 0.5 0.1 No
Forza.ba & Kreddy.ba Dec 2019 1.8 0.9 0.5 -0.3 -0.5 Yes
Forza.mk & Kreddy.mk Dec 2019 2.1 -0.9 -0.1 -0.4 -0.7 Yes
Monify (suspended) Dec 2019 3.3 0.1 -0.5 -0.5 -0.3 No
Prasiskolinau Sep 2019 0.3 0.2 0.1 0.1 No
Forza.md Sep 2019 2.8 1.6 0.3 0.0 No
Seymoure Sep 2019 2.7 -0.2 -0.1 -0.1 No

Viventor lenders - our rating scores

Several lenders are related to Viventor

Forza, Kreddy and MyCredit are all owned by a mysterious company called ‘Digital Finance International’. According to media reports it is owned by Finstar Financial Group (owner of Viventor until June 2020). However although it operates a slick looking website it provides very little information other than it operates in 14 countries in European and Asia and has assets over €70 million.  However, further research has confirmed it is based in Moscow, Russia. The Digital Finance lenders all seem to be sub-scale and struggling to become viable. 

In June 2020 Viventor was sold to the owners of one of its loan originators. Viventor was purchased by Lotus 597 BV, part of the Gielen Group, which is the holding company that owns the Viventor loan originator Atlantis Financiers of the Netherlands. The new owners have plans to grow Viventor which we view as positive, as it feels like a site that needs extra resources and more volume.

Our thoughts on the loan originators

The quality of lenders on Viventor varies significantly. Many are relatively small and newly established. Although there is quite a large selection, there are not as many loan originators with strong rating scores as we would like to see. 

Several loan originators have run into difficulties as a consequence of COVID-19. We provide further details below. 

The primary market often has many loans available from Atlantis, Seymoure & Hines, and Lenno, which are mainly secured loans. Many loans available on Viventor currently have low LTVs (often 35% or so) yet they also come with buyback guarantees from the lenders. This is not common but makes them attractive to investors as it reduces risk of a loss following a default. 

The latest lender to join is called Prasiskolinau. It is an extremely small Lithuanian lender. Positives are that it has been operating for many years and that it makes consistent but small profits. The main negative is the very small size of the operation. Many P2P investors will have larger P2P portfolios than the entire loan portfolio of Prasiskolinau.

Latest rating changes and situation updates

Monify

In early September Viventor suspended Monify due to 'changes in core management' and outstanding payments. It doesn't sound like a good situation. The company has a history of losses and we would not be surprised if the company is wound down.

CBC

In August Viventor announced that it had launched legal action against Polish lender CBC. This action was taken due to non payment of funds due and a lack of communication from the management team. We get the feeling that Viventor are a lot more proactive than other sites (we are looking at you Mintos) in launching litigation which is a good thing. CBC has always been one of our lowest rated Viventor lenders so we hope most of you were able to avoid the situation.

Twinero / Presto

Twinero is another lending company that ran into issues as a result of Covid. Unlike CBC, it seems that the management team are working on a solution with Viventor. It's not clear what the likely outcome is going to be - the company is seeking new funding, but Viventor has said that it may even take over the companies, or take possession of the loans so that they can service (or sell) the loans.

MyCredit

MyCredit is a very small lender based in Kazakhstan. It was suspended in August by Viventor due to high levels of 'funds in transit'. The company appears to have been co-operating with Viventor and a payment plan has been agreed, with all funds to be paid by January 2021.

Lenno

Lenno has not provided any financial information since 2018. We don't think this is reasonable for a company looking to borrow funds from P2P investors. We have cut their disclosure quality score to 0, reducing their total score from 65 to 51.

Sofia Pawn

Unfortunately Sofia Pawn / Sofcom appears to have left Viventor. A pity because it was one of the better loan originators available on Viventor.

Aforti

Aforti is a Polish lender that was removed from Viventor after defaulting on its payments to investors in 2019. Its loans were also listed on Mintos, where it also defaulted. Viventor has been much more pro-active in dealing with the situation than Mintos. While Mintos attempted a lengthy (ultimately failed) negotiation, Viventor launched legal proceedings. It recently announced that it has been recovering funds that were obtained as a result of its legal actions. It has generated a 40% recovery of amounts owed so far, with more expected to come.

Example loans available

Lenno logo

Loan 261218. 10% yield

Bulgarian mortgage. Secured on a 60m2 flat in Sofia. LTV 25%. 52 months remaining. Customer has made 8 months of loan repayments. Buyback guarantee provided by the lender

Loan 230207. 9% yield

Spanish mortgage. Secured on a 100m2 flat in Madrid. LTV 12%. 47 months remaining. Customer has made 13 months of loan repayments

To visit Viventor, and learn more, click here.

60 thoughts on “Who are the best lenders on Viventor? Our Viventor lender ratings

  1. Lior Reply

    Atlantis Finance released their 2019 report, should be on Viventor’s website in the next days (they just sent an email about it)

  2. Osmium Reply

    There is the new loan originator Maxo.BG (might be or not be identical to Credissimo), for the first time a report ffrom My Credit and updated reports from Monify, CbC, Forza.BA & Kreddy BA, Kreditu Centras, Ibancar, Moment Credit, Forza.MK & Kreddy.MK and Forza.MD.

  3. Lior Reply

    Hi,
    I understand the KFP merged with CBC. It shows as 2 different scores here (CBC actually much lower). Is this by mistake?

    • Oscar Harrington Post authorReply

      Hi Lior- thanks for pointing this out – it has been rectified – we intended to remove the KFP line when we last revised their score. Now we just show CBC.

  4. Martin Reply

    Viventor has finally published its Loan Originator Portfolio page, where one can see how much delayed loans and funds in transit each LO has.
    Also, it looks like Atlantis has changed it Buyback from 90 to 60 days.

    • Oscar Harrington Post authorReply

      Hi Joaquin. We had been updating it, but forgot to make a note of it at the top of the page. We’ve made some further updates to the page today, so it now has all the information that is currently available. Thanks for the reminder.

  5. Pietro Maria Cava Reply

    Greetings to Oscar and all users
    I have been withdrawing from both Viventor and Do finance for almost a week, but to date I have not yet received any credit for the amount requested, in particular Do finance assistance no longer responds to e-mails, I wanted to share with you this situation and know if it is happening to others and if something can be done.
    Thanks and good day to all of you
    Pietro Cava

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    • Oscar Harrington Post authorReply

      Thanks for highlighting this Osmium, we’ve updated the page today.

    • Oscar Harrington Post authorReply

      Hi Osmium – complete update for you today! Thanks for the prompt.

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  8. Joaquín Reply

    There are different new originators in Viventor. You don’t seem to update this list very much??

    • Oscar Harrington Post authorReply

      Hi Joaquin. Could you name them – we couldn’t identify them..!? Many thanks.

      • Joaquín Reply

        There are 20 listed when you select Primary Market, but only 14 in the tables you provide 😉

        • Oscar Harrington Post authorReply

          Hi Joaquin. The missing ones are either part of ‘Digital Finance International’ (like Kredyy, Forza, where we are still waiting to get more information about from Viventor) or Aforti, which had defaulted on payments recently and as a result we have removed from the tables.

          • Joaquín

            Oh, thanks for the information. Seems reasonable to not include them in the tables, then. Sorry if I seemed to be an asshole in previous messages, they are more blunt than what they were meant to be.

          • Oscar Harrington Post author

            No problem at all Joaquin – we rely on readers like you to let us know when new information comes in that we may have missed, or let us know when we have got things wrong. It’s valued.

          • Oscar Harrington Post author

            Cheers Igor – we’ve refreshed the page today and included this within it. Good spot!

  9. Sebastian Reply

    Thank you very much for this great work! I still think, that there are some originators missing/gone:

    I can’t find anything about Forza BA (I assume it is the same as Forza MK though) and Monify. Also an update for MyCredit/Forza MK/Kreddy would be great! SMS Credit seems to be gone already?

    Just a thought: If I can’t trust MyCredit and so on belonging to the same company like viventor, why should I trust Viventor itself? Or is it still not proven that they really belong to the same company, then we should ask Viventor support for a confirmation?

  10. Jon Reply

    You don’t update this very often. In fact, you’ve forgotten to warn people about Aforti situation. They also publish loans on this platform!!

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  13. Wes Reply

    Thank you.
    What do you think of Kreddy, that joined Viventor in may?

    • Oscar Harrington Post authorReply

      We are trying to get more data. At the moment there is no info so there is no basis to buy any of their loans. Kreddy is one of 3 lenders on Viventor that are all part of the same group and do not disclose any information.

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  15. George Reply

    Hi,
    this analysis is fantastic.
    Did you publish (I cannot find it) or are you planning to perform a rating of loans originators also for other platforms like Grupeer and Bondster?
    Thank you,
    George

  16. MK-Lender Reply

    Thank you very much – super helpful! I’ve turned off my ad blocker to support you guys.

  17. De Daapse Reply

    Hi,
    It’s difficult to match. The originators mentioned in the Viventor Loan Originator auto invest option are:
    Forza MK
    Ibancar
    KFP 24
    Kreditu Centras
    Kviku
    Moment Credit
    MyCredit
    Aforti Factor
    Stik Credit
    SofCom
    Aforti Finance
    Presto
    Seymoure
    Lenno
    Atlantis Financiers
    Twinero
    Credissimo

    And the list from this site is:
    Credissimo
    Sofia Pawn
    Stik Kredit
    Lenno
    Moment Credit
    Aforti
    Kviku
    KFP 24
    Ibancar
    Kreditu Centras
    Atlantis Financiers
    Get bucks / My bucks
    Seymoure and Hines
    Twinero / Presto
    SMS Credit

    Sofia Pawn for example, which originator is that from the Viventor list? But there much more I can’t match.

    • Oscar Harrington Post authorReply

      Hi. Most of these names match fairly well but we’ve updated some names in the tables, such as Sofia Pawn, where Viventor is not consistent with the lender names throughout their site.

  18. Boono Reply

    Hi,

    I would very much like to see KFP 24 included.

    They just joined the day after you have finished the review, and they seem rather attractive to me – good track record in the past (presumably), and currently relatively high yield and medium- to long-term loans…

    Thanks!

    Boono

  19. Seppo Reply

    Thanks for this, very nice!!

    One problem is that some loan originator names at Viventor site differ from names here:
    Forza MK?
    KFP 24?
    MyCredit?
    Aforti Factor?

    Would like to be sure about names.

    • Oscar Harrington Post authorReply

      Hi Seppo. We’ve just updated the post which covers some of your questions. Forza and MyCredit have no info available at all currently. KFP 24 we’ve just added some data we’ve been able to source. Aforti – we’ve provided the financials for the Aforti group holding company which covers Aforti Finance and Aforti Factor. Let us know in the comments if you have any other questions or suggestions. We will be looking to update this regularly, as we do for the Mintos ratings

        • Oscar Harrington Post authorReply

          Hi Charles. We took the figures from this presentation -https://storage.googleapis.com/viventor/public/Prezentacja_GRUPY_AFORTI_marzec_eng-GB.pdf. Note that in this presentation some charts say that they are showing Euro figures but based on the written commentary on these pages and other data sources it is clear that they are actually in PLN. We have converted them to Euros in the tables. The other report that you have linked to shows a profit of around 400k PLN which is approximately the 100k EUR we have used in the table.

          • Charles

            Thanks Oscar. The report I linked shows a profit of 1 635 798,04 PLN for the whole 2018, and 391 375,78 PLN for the 4th quarter of 2018 (page 15). 391 375,78 PLN is approx. 91,01k EUR, which is what the report you have linked states.
            “My” report also shows equity amounting to 6,1M PLN (page 12).

          • Oscar Harrington Post author

            Hi Charles. The difference seems to be between the figures provided by Viventor relating to the subsidiaries that appear on their platform versus the figures for the holding group. There are arguments for either but we may decide to instead use the consolidated holding figures you have referenced, but make it clear these are group figures.

        • Oscar Harrington Post authorReply

          Charles, we’ve decided to update the tables now to include the consolidated results of Aforti Holdings, rather than the various subsidiaries. Thanks for the suggestion.

  20. Dav7 Reply

    One of the not-so-big-problems on my Viventor loans are the delayed time for each to pay. It’s almost “normal” to get my monthly payments delayed and that it’s not a big problem because they always pay late fees.

    I like to get paid on time but I also like to get fees 🙂

  21. Tom Reply

    Why does the GetBucks rating differ so much from your GetBucks rating for Mintos (46 vs 29)?

    • Oscar Harrington Post authorReply

      Hi, thanks for pointing this out. 46 was the old score before we updated it for the latest results. We’ve now processed this update on the Mintos table.

      • Osmium Reply

        Scores for Credissimo and Afort also differ between Viventor and Mintos?

        • Oscar Harrington Post authorReply

          Thanks Osmium. We got new data when doing the Viventor reviews – we’ve updated the Mintos tables for these lenders now so they are consistent.

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