Latest update: 13 August 2021
Viventor is now closing down
Viventor has announced that it is no longer accepting any new investments. It needed to obtain a brokerage licence to keep accepting new investments and it has decided against doing this. As a result it plans to wind down the site and return cash to investors. For full details please refer to the website of Viventor.
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.
That means we will not be updating this page in the future
The purpose of this page was to help Viventor investors select the best loans. As the site no longer allows investors to select new loans, we will not be updating this page in the future, and may not contain up to date information. However, we have decided for a period to continue to make it available on our site as a reference for any Viventor investors.
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 2020 | 6.9 | 6.0 | 2.4 | 1.7 | 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 | Suspended | 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
| Viventor Lender | Profit | Capital | Size | Disclosure quality | Track record | Our score | Last score change | Viventor rating |
|---|---|---|---|---|---|---|---|---|
| Credissimo / Max.BG | 13 | 16 | 13 | 11 | 15 | 68 | -7 | C+ |
| Lenno | 13 | 13 | 11 | 0 | 14 | 51 | -14 | B |
| Stikcredit | 15 | 14 | 10 | 14 | 12 | 65 | +14 | B+ |
| Kreditu Centras | 12 | 10 | 5 | 9 | 8 | 44 | +11 | A- |
| Ibancar | 8 | 10 | 5 | 12 | 10 | 45 | +14 | A- |
| Moment Credit | 9 | 14 | 11 | 11 | 12 | 57 | +4 | A- |
| Kviku | 9 | 9 | 10 | 12 | 13 | 53 | +9 | B |
| Twinero / Presto | 8 | 0 | 5 | 4 | 8 | 25 | +3 | D |
| CBC | 4 | 0 | 6 | 4 | 3 | 17 | -8 | D |
| Prasiskolinau | 6 | 6 | 2 | 8 | 9 | 31 | -7 | A |
| Forza.mk & Kreddy.mk | 0 | 0 | 2 | 8 | 3 | 13 | 0 | C+ |
| Forza.ba & Kreddy.ba | 5 | 8 | 6 | 10 | 8 | 37 | 0 | A |
| Monify | 3 | 3 | 7 | 7 | 6 | 26 | -5 | D |
| Atlantis Financiers | 10 | 8 | 10 | 5 | 1 | 34 | -9 | C- |
| Forza.md | 10 | 9 | 7 | 7 | 7 | 40 | -3 | A- |
| Seymoure | 6 | 5 | 4 | 4 | 6 | 25 | B- |
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.
To visit Viventor, and learn more, click here.
IbanCar published Q3 results + they raised some money:
https://www.iuvo-group.com/wp-content/uploads/2020/11/Press-release-for-Iuvo-Q4-2020-003-1.pdf
https://www.iuvo-group.com/wp-content/uploads/2020/11/Ibancar-Financial-Report-Iuvo-v13Nov20-003-1.pdf
Thanks Lior, we have updated the table
I have pending payments from Atlantis going for 3 weeks now
Should we consider that company in Default ?
The “reassuring” email received some days ago only comes to exacerbate my panic about that company
Atlantis Finance released their 2019 report, should be on Viventor’s website in the next days (they just sent an email about it)
Thanks Lior, we have now updated the page for the latest Atlantis results
The data for Stikcredit is completely wrong. And their accounts are audited. You can check the information on ViVentor and also here: https://www.seedrs.com/stikcredit.
Thanks JR – this has been resolved now.
What changed?
Read the ‘latest rating changes’ section!!
Stikcredit is not mentioned at all in the ‘latest rating changes’ section!!
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.
Thanks for highlighting – we will update page very soon
Hi,
I understand the KFP merged with CBC. It shows as 2 different scores here (CBC actually much lower). Is this by mistake?
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.
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.
Are you guys still updating this?? 🙂
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.
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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“Strangely, neither MyCredit or Forza.mk, or Kreddy.ba provide any financial information on the Viventor website”
There now reports from Forza.BA & Kreddy BA and Forza.MK & Kreddy.MK. Also reports for newly added Prasiskolinau.
https://www.viventor.com/investing-with-us/loan-originators
Thanks for highlighting this Osmium, we’ve updated the page today.
I think there are a bunch of new reports, looking foward to an update for the ratings.
https://www.viventor.com/investing-with-us/loan-originators
Hi Osmium – complete update for you today! Thanks for the prompt.
thanks for updating. Monify is still missing
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There are different new originators in Viventor. You don’t seem to update this list very much??
Hi Joaquin. Could you name them – we couldn’t identify them..!? Many thanks.
There are 20 listed when you select Primary Market, but only 14 in the tables you provide 😉
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.
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.
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.
Nada!
Hi Oscar. KFP 24 is listing their loans also on Iuvo platform. Their 2018 financials are available here: https://www.iuvo-group.com/wp-content/uploads/2019/08/KFP_FS_2018_signed.pdf. I wish Viventor would update the information about their loan originators more frequently.
Cheers Igor – we’ve refreshed the page today and included this within it. Good spot!
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?
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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Thank you.
What do you think of Kreddy, that joined Viventor in may?
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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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
Hello! Does anyone noticed, that all KFP 24 loans are deleyed?
Thank you very much – super helpful! I’ve turned off my ad blocker to support you guys.
Sofia Pawn is SofCom at least
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.
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.
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
Hi. We have been discussing KFP24 with Viventor. They have the draft 2018 figures but they are not allowed to release them to us. They are due to be published on the Viventor website in April. In the interim we are trying to locate and purchase the 2017 financials – hopefully we will have these and publish details soon.
Hi Oscar, KFP24 2017 financials are on iuvo, as KFP24 also sells loans there: https://www.iuvo-group.com/wp-content/uploads/2019/01/KFP-Financials-31.12.2017.pdf
And a presentation too: https://www.iuvo-group.com/wp-content/uploads/2019/02/Presentation-KFP-EN.pdf
Thanks Charles. Those financials are the figures we already included in our tables. Unfortunately the presentation is pretty useless and doesn’t provide any recent data that we like to see like profitability, capital levels, NPL ratios and so on. If you see any 2018 figures please highlight them to us if we haven’t already updated our tables.
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.
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
Where have you got Aforti’s financials from? Your data are: equity 0.3, P&L 0.1, but the numbers in the last report seem quite higher:
https://aforti.pl/wp-content/uploads/2019/02/Aforti_Holding_SA_Report_4Q2018_ENG.pdf
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.
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).
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.
And here you can follow the equity price (couldn’t find official data on WSE’s webpage): https://markets.ft.com/data/equities/tearsheet/summary?s=AFH:WSE
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.
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 🙂
Why does the GetBucks rating differ so much from your GetBucks rating for Mintos (46 vs 29)?
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.
Scores for Credissimo and Afort also differ between Viventor and Mintos?
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.