How to choose a crowdlending platform in 2026: eight checks on public records

Updated: 2 October 2026

Choosing a crowdlending platform means running eight checks on public records: register entry, legal entity, client money, auditor, statistics, loss cover, fees and tax documents. For example, Mintos holds a Latvijas Banka investment-firm licence valid from 17 August 2021 (Latvijas Banka).

Six platforms against four public records

The table shows, for six platforms, what the register, the platform's own terms, the audit statement and the fee page say, each with its date. Facts are as read on 2 October 2026 unless a page date is given.

Authorisation in the ESMA register or a national register

A platform is checked in the register of the authority that licensed its entity. For providers under Regulation (EU) 2020/1503 (ECSPR), the starting point is the ESMA registers portal. Article 14 requires that register to show the provider's name, legal form, commercial name and website. It must show the competent authority, authorised service, member states and any penalties imposed (Article 14). A provider may trade under several names, so match the legal entity (ESMA Q&A 6.2, 16 December 2022). One register does not cover everyone. The Mintos and Debitum entities hold investment-firm licences, so their entries sit in Latvijas Banka's list. Estateguru OÜ, however, appears on the Estonian FSA's list of crowdfunding providers.

ECSPR also excludes consumer project owners and offers above €5 million over twelve months (Article 1). Go & Grow describes its claims as unsecured consumer loans (risk statement), and the licence statement in the table is the one to look up.

UK platforms belong to the FCA's Financial Services Register, which lists authorised, previously authorised and unauthorised firms plus clones (updated 13 February 2026).

The legal entity and the originator named in the contract

The entity in the contract has to match the entity in the register, and the originator of each loan is a second name to find. On Mintos Notes the buyback comes from "the lending company or other entity of a lending company group" (Mintos help, 7 December 2022). Go & Grow says it does not issue loans. Its security page says investors legally own loan claims that originate with Bondora Group (Go & Grow, June 2026).

Four identifiers to compare between contract and source are listed below.

• AS Mintos Marketplace, registration number 40103903643 (Latvijas Banka).
• SIA DN Operator, the Debitum entity, 42103092209 (Latvijas Banka).
• Go&Grow OÜ, 12831506 (terms, version of 1 October 2025).
• Maclear AG, CHE-115.674.165.

Registers also record failure. Estonia's business register lists Envestio SI OÜ as in bankruptcy, with a trustee in office from 9 June 2020 (e-Business Register).

Client money in a segregated account

Client money is segregated when the terms say the platform holds it apart from its own funds and name who holds it. ECSPR Article 10(2) applies a central-bank or authorised-credit-institution deposit rule when a provider performs payment transactions relating to transferable securities or admitted instruments. Under Article 10(4) and (5), an authorised payment service provider is required for payment services (Article 10). The rule covers ECSPR providers and not every product in the table.

The terms differ on what happens if the operator fails.

• Go & Grow's terms treat the money as property handed over for a mandate under § 626 of the Estonian Law of Obligations Act. Under that treatment, the money sits outside the bankruptcy estate (terms).
• PeerBerry's clause 4.6 says the user keeps title and the funds do not appear in its statements as its own.
• Estateguru's clause 21.2.2 has the operator transfer the positive account balance to the user's current account if the operator goes bankrupt.
• Mintos points to the Latvian investor compensation scheme. It pays 90% of net loss up to €20,000 if Mintos fails to return instruments or funds. Investment risk is excluded (risk page, protection page).

Audited accounts and the auditor's name

An audit statement is complete when it names the firm, the entity and the year. Open the auditor's report inside the annual report. The entity on that report needs matching against the register, because Estateguru's reports cover Estateguru Holding OÜ while the FSA entry names Estateguru OÜ. Document types also differ. Debitum's Grant Thornton work was a compliance audit, and Maclear's FAQ refers to audited financial statements. KPMG Baltics is named on the Mintos protection page and signs the 2025 opinion on Bondora Group AS, the group behind Go & Grow.

Platform statistics and default rates: basis and date

A statistic is usable when the page gives its formula and date. Four published examples show how much the basis changes the number.

• Mintos defines net return as gross return minus the annualised loss rate, with no bonuses or fees; 2022 shows 7.1% gross and -1.2% net (Mintos).
• Estateguru's statistics of 1 October 2026 show a historical return of 9.32% and default rates of 27.45% (2023), 13.45% (2024) and 20.14% (2025). Default rates are defined as loans defaulted during the year divided by non-defaulted loans at 1 January (Estateguru).
• A Bondora study reports a mean IRR of 27.72% for 62,537 strictly closed loans and -4.17% for an extended sample of 105,135 (academic study, 2023).
• PeerBerry's page, updated 30 September 2026 at 15:54 UTC, reports an average annual return of 11%. Each late bucket shows 0%, with 92.62% of loans current. These are PeerBerry's own classifications on that date (PeerBerry).

ECSPR requires providers facilitating loans to disclose default rates for at least 36 months (Article 20) and to describe any credit-scoring method (Article 19). Maclear's homepage counters read €158.4M+ funded and 56,435 investors on 2 October 2026 (Maclear).

Buyback and provision-fund terms and their stated scope

Each loss-cover term names a debtor, a trigger and a scope.

• On Mintos Notes, the lending company or a group entity owes the buyback once a loan is more than 60 days late. Nominal value plus accrued interest sets the buyback amount. If it defaults on the buyback, investors may not receive the money (Mintos help, 7 December 2022).
• On PeerBerry loans, the originator repurchases a loan more than 60 days late with accrued interest. Force majeure may affect both the buyback and the additional group guarantee (PeerBerry help, read 2 October 2026).
• On Debitum ABS, the partner "has the option to buy it back" while the loan is in recovery (Debitum help, 4 December 2025).
• At Maclear, clause 3.9 of the terms puts 2% of each funded project into a reserve fund. The FAQ of 10.09.2026 says the fund covers interest and/or principal as funds are available. It adds that a delay over 3 days triggers cover of outstanding interest.

Mistake 2 in top 5 mistakes covers the buyback question in depth.

Sale fees, secondary market rules and withdrawal terms

Fees attach to actions, so price the action. Selling a €2,000 position costs €17.00 at Mintos' 0.85% Notes rate, €20.00 at Estateguru's 1% and €50.00 at Maclear's 2.5%. However, PeerBerry charges no fee but lists a holding only after 180 days. Fixed withdrawal fees weigh differently: on a €100 withdrawal, Estateguru's €3 is 3% and Go & Grow's €1 is 1%.

Withdrawal rules carry minimums. PeerBerry sets €1 and €15,000 per transaction (PeerBerry help, read 1 October 2026), and Maclear sets €50 to a verified IBAN (Maclear, 3 August 2026). Maclear's secondary market uses a 14-day listing window and a 30-day wait before relisting a purchased position (Maclear, 3 August 2026).

Tax reporting documents by platform

The tax document to request is one that separates interest, fees and gains. Mintos publishes an English tax report for 2025 with Annex 3 for claim investments and Annex 4 for Note investments (Mintos, 24 March 2026). Maclear's Statements section produces a PDF for a custom period. That PDF separates interest, bonuses, referral income and secondary-market profit, loss and sale fees (Maclear, 3 August 2026). PeerBerry does not deduct investor taxes (PeerBerry). Rates and declaration routes by country are in the crowdlending tax guide, and the account-opening side is in how to invest in crowdfunding.

Choosing a crowdlending platform: FAQ

Is a P2P platform legit if it appears in a register?

No, a register entry confirms authorisation for the entity and service listed and says nothing on loan quality. Article 14 has the ESMA register carry penalties imposed on providers, and the crowdlending risks guide lists cases where authorised or listed firms still failed. A clean entry therefore opens the checks that follow and does not close them.

Can I check a UK crowdlending platform in the ESMA register?

No, because the ESMA register lists providers under ECSPR while UK firms appear in the FCA's Financial Services Register. According to the FCA, loan-based crowdfunding investors have no access to the Financial Services Compensation Scheme (FCA, updated 10 July 2026).

What does a 2% provision fund add up to on a funded project?

On an illustrative €100,000 project, 2% puts €2,000 into the fund (example arithmetic for the 2% rule). The terms add that the reserve fund cannot guarantee full payment of interest or principal. The FAQ of 10.09.2026 calls the Provision Fund not an insurance scheme. Its cover is limited to the funds available.

How often do the records behind these checks change?

Some change quarterly and terms can change within weeks. For example, Mintos updates net return quarterly. Estateguru's terms took effect on 23 July 2026, and PeerBerry's user agreement has versions dated 15 January and 12 February 2026.

Does every platform have to publish default rates?

No. Article 20 applies to ECSPR providers facilitating loans, and the Regulation excludes consumer project owners and offers above €5 million. Go & Grow, whose claims are described as unsecured consumer loans, publishes its own definition. Under that definition, a loan counts as in default when payments are more than 90 days overdue. It requires the customer contract to be terminated too (Go & Grow, June 2026). Recovery then follows country by country, and Bondora's model assumes €667 of recovery over ten years per €1,000 defaulted in Estonia in the same post.