Nibble is a P2P platform established in 2020 to fund the loans of IT Smart Finance through Joymoney. Founded by Maxim Pashchenko, the company is run by Marina Smirnykh (no online profile) as CEO and operates based on this common ownership structure with IT Smart Finance/Joymoney as exclusive loan originator. Nibble is legally registered in Tallin, Estonia, but runs it’s daily operations out of Barcelona, Spain.
IT Smart Finance group includes the following companies: Joymoney Spain, Joymoney Russia, Joymoney Mexico (opening in 2020), Nibble (P2P platform), and the Association of Microfinance Organizations “Siberia”. But be informed that until this moment, just Spanish loans area available in the platform.
The information available about all these companies is very limited. The audited financial report of IT Smart Finance doesn’t provide any transparency over individual profitability of loan originators. You should also be warned that Nibble isn’t responsible for any losses that you might occur by investing in loans provided by them or even liable for the legal information on their platform.
“Without prejudice to the generality of the foregoing paragraph, Nibble does not warrant that:
– the legal information on this website will be constantly available, or available at all; or
– the legal information on this website is complete, true, accurate, up-to-date, or non-misleading.Nibble User Agreement
This is just the tip of the iceberg if you pay close attention to the user agreement.
Nibble follows an loan investment model similar to iban wallet and Robocash: black-box loan investing. This means that you don’t know the loans that are receiving your investment, you are only able to select the investment tier and duration. You basically lend your money to IT Smart Finance, that provides the buyback guarantees for all loans available from Spain. Again, Russian and Mexican loans are not available as I write this review.
After a quick review, I decided not to invest on Nibble. Nibble isn’t liable for the legal information presented on the website nor it’s accuracy. Does not have the obligation to inform users about changes in terms and conditions, or disclose any financial information about the loan originators. Nibble needs to improve in a significant way all aspects before I decide to revisit the platform.
Nibble Quick Review
Type of Loans Available
Average Interest Rate
Buyback / Secured Loans
Early Exit / Secondary Market
Auto Invest Feature
Control over Loans Invested
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