Editorial verdict
More mature and better regulated — but high interest does not come for free
Afranga is attractive for investors who want KIIS documentation and a choice between manual selection and SaveSmart. The ECSP licence improves oversight but does not guarantee principal.
What we like
- ECSP licence and FSC supervision
- KIIS for every offer
- Marketplace and SaveSmart
- 0% standard fees
What concerns us
- No deposit guarantee
- No general buyback commitment
- Capital may be locked until maturity
- Material credit risk
How the model works
Direct lending under the ECSP licence
Investors fund specific offers and acquire claims against the relevant borrower or loan originator. Afranga operates the process but does not guarantee the debt.
A partner publishes an offer and KIIS.
The investor assesses rate, term and risk.
A direct lending agreement is formed.
Interest and principal follow the schedule.
In a default, the borrower remains liable while Afranga assists with collection and possible legal action.
Two investment routes
Marketplace versus SaveSmart
Marketplace
Select individual loans, partner, term and rate from €10.
- Manual selection
- KIIS for each offer
- Active secondary market; sale is not guaranteed
SaveSmart
Fixed terms with a rate shown in advance and monthly interest payments.
- 3, 6 or 12 months
- Bullet principal repayment
- Limited early withdrawal with a fee
Return versus risk
How to read the 8–16% range
Afranga publishes a target annual return of 8% to 16% before tax withholding. On 4 August 2026, visible Marketplace offers carried rates of 8% to 14% and terms of 3 to 36 months. This is a point-in-time snapshot, not a promise of permanent supply.
The difference between an 8% loan and a 14–16% loan usually compensates for different credit, liquidity, collateral or operational risk. Compare the KIIS, financial statements, term and payment structure.
Risk dashboard
Where the risk really sits
- High impactCredit risk
Repayment depends on the borrower.
- High impactConcentration
Large or related positions reduce real diversification.
- MediumLiquidity
Marketplace investments can be listed on the secondary market, but a sale depends on finding a buyer and is not guaranteed.
- MediumRecovery
Collection may take time and may not recover the full amount.
Editorial methodology
Why the score is 8.2 out of 10
Exit and protection
Liquidity and defaults
Afranga operates an active secondary market for standard loan investments acquired on the primary market. Investments may be listed at par, at a discount or at a premium of up to ±15%, and Afranga currently charges no listing or purchase fee. A sale takes place only when another investor buys the position, so early exit is not guaranteed.
SaveSmart investments cannot be sold on the secondary market. SaveSmart has a separate option for limited partial early withdrawal, subject to restrictions, a 1% fee and available funds; it does not provide guaranteed, full or immediate early access.
Keep a liquidity reserve outside the platform.
Interactive scenario
Potential gross return
Taxes, defaults, idle cash, losses and fees are excluded.
Context, not a ranking
Afranga compared with two different P2P models
| Criterion | Afranga | Robocash | Mintos |
|---|---|---|---|
| Core model | ECSP direct lending | Automated claim purchases | Regulated Notes marketplace |
| Regulation | ECSP, supervised by the FSC | No financial-services licence | Investment firm in Latvia |
| Selection | Marketplace or SaveSmart | One-click/Auto Invest | Manual and automated selection |
| Key risk | The individual borrower | UnaFinancial concentration | Lending companies and Notes structure |
| Early exit | Secondary market; buyer required | Secondary market | Secondary market where eligible |
This is a structural comparison, not an investment recommendation.
Frequently asked questions
Afranga FAQ
What return does Afranga offer?
The published target range is 8–16% annually before withholding tax. Returns are not guaranteed.
Is Afranga regulated?
Yes, as an ECSP under Regulation (EU) 2020/1503, supervised by Bulgaria's FSC.
Is there a buyback guarantee?
No general buyback mechanism applies to the direct model.
Can I exit early?
Marketplace loans can be listed on the secondary market, but a sale is not guaranteed. SaveSmart permits only limited partial early withdrawal, subject to restrictions, a fee and available funds.
Verifiable data
Official sources
- Afranga — General Terms and Conditions, version 2.0 dated 27 August 2026
- Afranga — official price list
Affiliate transparency: P2P Investitor may receive compensation through affiliate links at no extra cost to the reader. This does not change the score.
Final verdict
Afranga deserves research, not automatic trust
The ECSP licence and KIIS documentation are genuine advantages. Liquidity and borrower credit quality remain decisive.