Esketit Review
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Highlights
- Earn up to 12% APY
- Established lending companies
- Reliable buyback guarantee
- Tested Platform
- Limited diversification
Rating
Risk and return
Usability
Liquidity
Support
Diversification
Min. Investment
€ 10
Loan Originators
6
Loan Period in Months
1-36
Countries
5
Interest
7%-12%
Statistics
Year Founded
2020
Investors earnings
€ 6M
Number of Investors
16.853
Loss of Investors Money
€ 0
Average portfolio Size
€5.160
Latest Financial Report
2020
Table of Contents
Esketit Review Summary
Esketit stands out as one of the most reliable peer-to-peer lending platforms in Europe, boasting an impressive average return of 12.84%. Since April 2022, we’ve actively invested over €15,000 on Esketit, and our overall experience with the platform has been notably positive
What is Esketit?
Esketit is a peer-to-peer lending platform established by the creators of the global lending corporation AvaFin, previously known as CreamFinance. Presently, it offers investment opportunities in loans originating from Jordan, the Czech Republic, Poland, or Spain, boasting an average annual return of 12%. Curious if Esketit merits your investment? Discover the detailed insights and analysis in our comprehensive Esketit review.
PROS
- Reliable buyback and group guarantee
- High interest rates
- Modern P2P lending platform
- Instant Exit Option
- No fees
- Supported deposits in EUR or stablecoins
CONS
- Limited diversification
- Not regulated
- Limited loan availability
Our Opinion Of Esketit
Esketit has demonstrated exceptional performance in recent months, consistently safeguarding investors’ interests, even amidst ongoing geopolitical events.
Since April 2022, we’ve actively maintained a portfolio on Esketit. Although loan availability may be limited at times, our Auto Invest Strategies consistently allocate our uninvested funds within 24 – 72 hours, contingent upon prevailing market conditions.
If you don’t spot any active investments on Esketit’s homepage, it doesn’t necessarily indicate cash drag. Your uninvested funds can be deployed within 24 hours based on your Auto Invest settings.
Currently, our favored strategy involves investing in loans offered by AvaFin. You can assess our current exposure on Esketit via our P2P portfolio page.
While AvaFin holds a solid position in the global lending market, it’s crucial to recognize the inherent risks associated with investing in unsecured loans. Regulatory alterations could potentially result in losses for the company, impacting your portfolio’s performance negatively.
Joining Esketit warrants a comprehensive understanding of the lender’s loan performance in specific markets. During our visit, we engaged with Esketit’s CEO, the two founders, and the operational team handling activities in Jordan.
We acquired detailed insights into the lending landscape in Jordan, providing us with valuable perspectives on the lender’s risk management practices.
Our experience with Esketit has been outstanding thus far. As of 2024, Esketit remains one of Europe’s top-performing P2P lending platforms
User Requirements
- Be over 18 years old
- Pass the KYC
- Verify your identity
- Verify your bank account (IBAN)
Buyback Obligation & Group Guarantee
The buyback obligation signifies the commitment made by the lending company to repurchase your loan subsequent to the borrower delaying repayment for more than 60 days.
Vitālijs Zalovs is the CEO of Esketit and, therefore in charge of the platform’s operations. He has previous experience working at Mintos.
Esketit is owned by the co-founders of the Creamfinance Group, Davis Barons, and Matiss Ansviesulis. Both gentlemen have an impressive track record of growing their companies.
On the other hand, the group guarantee denotes the financial group’s commitment to fulfill the lending company’s obligation in scenarios where the lender is unable to meet the buyback obligation.
It’s important to note that the group guarantee doesn’t apply to all loans offered on Esketit, and AvanFin exclusively provides a group guarantee for its lenders. Although the lending company in Jordan isn’t part of the AvaFin group, it shares the same ownership.
Both the buyback obligation and the group guarantee are intricately linked to the financial status of the lenders or the financial group.
Now, let’s examine some of the reports originating from Creamfinance Holding Ltd. (AvaFin).
It’s worth noting that BDO audits all the reports in Cyprus, where Creamfinance Holding is legally based.
Esketit alternatives
FaQ About Esketit
Esketit is a reputable peer-to-peer lending platform that showcases loans from well-established loan originators across multiple countries. We have personally visited Esketit’s headquarters and engaged in multiple discussions with the management to verify the platform’s legitimacy.
Investors utilizing Esketit will continue to receive accrued interest for delayed loans until the loan is fully repaid or until the buyback guarantee is triggered. Even in cases where loans face delays, investors will still earn interest on their investments
The T&C’s apply for the Irish company. The Latvian company is in the first line and most probably, that’s what creates the confusion. The Latvian company does some back-office work for the Irish company. The company that serves the platform is registered in Ireland.
There are multiple avenues to engage in business within the market. One can opt to operate as a commercial lender under the regulation of the Companies Control Department, establish as a microfinance company holding a license issued by the Central Bank of Jordan, or function as a sharia-compliant lender, adhering to the principles outlined in Islamic law.
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