Lendermarket is a P2P platform established in 2019 to fund the loans of Creditstar Group. Owned by Aaro Sosaar, CEO of Creditstar through his holding company, the platform was initially established in Ireland probably for tax efficiency reasons, but all business operations are based in Estonia. For a more clear context, Creditstar uses Mintos as a funding source, but decided to establish his own controlled P2P platform, Lendermarket even if they are two separate entities.
Even if only founded in 2019, Lendermarket sponsorship by Creditstar Group is insurance of future potential. In July 2020 Creditstar Group announces that it successfully issued and sold bonds in the total amount of EUR 18.33 million with 12- and 18-month maturities. Only through financial disclosures and transparent auditing practices this is possible.
Lendermarket offers a very simple investment proposal: you can either select individual loans on the primary market, or simply use the auto-invest feature. Take into consideration that the platform does not offer a secondary market, but with short-term loans there is no particular reason to have one. You basically lend your money to Creditstar Group, that provides the buyback guarantees for all loans available from Czech Republic, Finland, Poland, Spain, and Estonia.
Even if promoting a buyback guarantee for all loans through Creditstar, investments in Lendermarket don’t have any collateral or mortgage guarantee, making the buyback guarantee as valid as the credit capacity of the Creditstar Group. It is also important to highlight the lack of visibility over the people that actually manage the platform, and the complexity of the company structure. Compared to other P2P platforms that offer similar services, Lendermarket needs to increase operational transparency.