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

Latest update: 12 December 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.   

New: Viventor have introduced their own ratings

In November 2020 Viventor launched their own ratings system, from A (best) to D (default). We have provided their rating score below in the tables. Overall their ratings correlate fairly well with our scores, although we would note that their A rated loan originators do not score particularly highly relative to the highest scores seen on Mintos, which tend to be in the high 70’s. One other variation is Maxo.bg, which is a subsidiary of Credissimo. Viventor appear to have scored Maxo.bg based solely on the financials of the subsidiary. We have provided the score for the Credissimo group, as we would expect that Credissimo would be willing and able to support Maxo.bg if needed.

Viventor lenders - key financial information

Viventor Lender Status Reporting period Loans Equity P&L - latest P&L - prior year P&L - 2 years ago Audited
Credissimo / Maxo.BG Active Dec 2019 21.5 16.1 2.5 3.2
Lenno Active Dec 2018 8.8 2.9 1.0 0.2
Stikcredit Active Dec 2019 4.3 3.7 1.6 0.9
Kreditu Centras Active Dec 2019 2.5 0.7 0.4 0.2 -0.1
Ibancar Active Sep 2020 1.3 0.5 -0.1 0 0 X
Moment Credit Active Dec 2019 7.7 4.1 0.4 0.2 0.5 X
Kviku Active Jun 2020 14.0 2.4 0.4 0.8 0.6
CBC Default Dec 2019 4.2 -0.8 -1.5 -2.1 0.1 X
Twinero / Presto Default Dec 2018 2.2 -1.5 0.1 0.3 -1.8 X
MyCredit Suspended Dec 2019 0.6 -0.3 -0.3 X
Atlantis Financiers Active Dec 2019 10.7 1.2 0.5 0.1 X
Forza.ba & Kreddy.ba Active Dec 2019 1.8 0.9 0.5 -0.3 -0.5
Forza.mk & Kreddy.mk Active Dec 2019 2.1 -0.9 -0.1 -0.4 -0.7
Monify Default Dec 2019 3.3 0.1 -0.5 -0.5 -0.3 X
Prasiskolinau Active Dec 2019 0.3 0.2 0.1 0.1 X
Forza.md Active Sep 2019 2.8 1.6 0.3 0.0 X
Seymoure Active Sep 2019 2.7 -0.2 -0.1 -0.1 X

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

Atlantis Financiers

In late November Viventor announced that Atlantis Financiers was experiencing difficulties. The explanation provided was confusing, but it seems that Atlantis is experiencing liquidity difficulties caused by lower repayments from its borrowers, and a reduction of funding received from Viventor investors. It seems that as part of a restructuring, existing loans will be extended by 12 months. Investors will receive full payment of principal and interest. We will attempt to learn more about the situation from Viventor management.

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.

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

  1. Mathias Reply

    ” We will attempt to learn more about the situation from Viventor management.” New information since 12.12.2020 ?

  2. Luigi Derossi Reply

    Don’t you think your judgement on Kreddy Mk – Forza MK is too hard? Its finacial statement is audited, it offers good rates, repays loans regularly and overall, even if it is in loss, (but this is normal for a new company) losses are quickly reducing since 3 years.
    The equiti is negative but, I repeat, it is normal for a star up. It seems almost all good. Your judgement seems too hard compared to other companies that not even have an audited balance.

    • Oscar Harrington Post authorReply

      Hi Luigi. Yes it is common for a startup to have losses and negative equity. But those companies don’t usually borrow money from the public…. We change our ratings regularly, so if they continue to improve their results and reporting and become lower risk then that will be reflected in their future scores. For now we think the score is appropriate.

  3. Luigi Derossi Reply

    Good morning, can you find any news about Atlantis Financiers? It is the owner and biggest Loan Originator of Viventor, but it mantains the highest rating even if it is not repaing anything since 2 months. There are difficulties for panedmic but it is repaying nothing at all and not only delaying or repaying partially, as other LOs instead are doing.
    It seems there is something other. But what?

    • Oscar Harrington Post authorReply

      Have you seen the email from Viventor about the situation Luigi? We actually feel that it was not explained very well, and will see if we can learn more.

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