Lendermarket Review: Is it good? Don't invest before you read this!
77 Sir John Rogerson's quay, Block C, Grand Canal Docklands, D02 VK60 Dublin 2 Ireland
4.0 of 5Lendermarket
- Founding Date:
- June 2016
- Funded Loans:
- Investor Protection:
Interest & Red Flags
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- Loan Originators:
- Payday Loans:
- Personal Loans (Consumer Loans):
- Business Loans:
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- Other Loans:
- Worst Rating:
- Best Rating:
- Manual Investing:
- Automatic Investing:
- Buyback Guarantee:
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What is Lendermarket?
Lendermarket is a P2P platform from Dublin in Ireland, founded in 2015.
It is a sister company of Creditstar Group from Tallinn in Estonia.
That is why the vast majority of P2P loans are offered by loan brokers who are also part of Creditstar Group. Creditstar Group also offers its loans on Mintos.
Since its inception, the platform has funded more than 300 million worth of P2P loans, making it one of the mid-sized P2P platforms in Europe.
How does Lendermarket make money?
Lendermarket makes its money mainly through commissions charged by loan brokers.
Who owns Lendermarket?
Lendermarket is owned by SA Financial Investment OÜ, an Estonian umbrella company 100% owned by Aaro Sosaar, the CEO of Creditstar Group.
How safe (reputable) is Lendermarket? Is Lendermarket legal?
Lendermarket, inconveniently, is not officially regulated by any official financial market regulator, which typically leaves no doubt about its safety.
But the fact that the platform has successfully brokered loans on a very large scale and its affiliation with the established Creditstar Group speaks for its safety and legality.
That\'s why we rate Lendermarket as a safe platform.
How does Lendermarket work?
If you want to invest on Lendermarket, you first need to register online and then deposit money via a bank transfer.
With your first deposit via a standard bank transfer (SEPA) you also confirm the bank account to which withdrawals can be made.
After that you can start investing directly.
On Lendermarket you can choose to invest manually or automatically.
However, you can only invest on the primary market (initial issuance of loans), as unfortunately there is no secondary market (loans from other investors) offered.
How can I invest on Lendermarket?
You can choose every single loan you want to invest in on the platform.
Among other things, this makes sense if you are just starting to invest and don\'t want to wait for Auto Invest to invest for you.
Unfortunately, Lendermarket does not offer a secondary market in case there are not enough loans available on the primary market.
Lendermarket offers with Auto Invest a function that allows you to invest automatically.
The following settings are possible:
Investment per loan,
Auto Invest is kept very slim and can be set up within a short time. With just a few clicks you can define in which loans you want to invest.
How do I get a bonus on Lendermarket?
If you sign up through our cashback link*, you will get 1% cashback after you sign up.
To calculate the cashback, your investments during the first 60 days after your registration will be taken into account.
What are the warning signs to watch out for at Lendermarket?
At the moment, we have not noticed any warning signs with Lendermarket.
with all advantages & disadvantages
Gewichtigung: Age: 40.00%, Funded Loans: 40.00%, Regulation: 20.00%.
The platform is older than 5 years. In the past, sudden failures of platforms that have been on the market for such a long time have occurred very rarely.
The platform is not officially regulated. This means the platform is not subject to ongoing monitoring by an independent third party.
Interest and Risk (40.00%)
Gewichtigung: Average Interest: 50.00%, Red Flags: 50.00%.
The average interest rate is comparatively much higher than other platforms.
The platform has no red flags that investors should pay attention to.
Gewichtigung: Automatic Investing: 20.00%, Buyback Guarantee: 20.00%, Secondary Market: 20.00%, Tax Report: 20.00%, App: 20.00%.
Hinweis: Although we take every care to ensure the accuracy of the information and the representative example, no warranty can be given with regard to the correctness, accuracy, timeliness, reliability and completeness of the content. All information is based on the available information from the provider.
Last updated on 14 March 2023