P2P Lending in Spain

The Spanish Market for Crowdlending

According to data from the latest report by Cambridge Centre for Alternative Finance on the global market of alternative finance and crowdfunding, Spain had a total funding volume of €374.1 million in 2018, up from €160.5 million in 2017, which corresponds to a growth rate of 133.1%. This makes Spain the sixth-largest crowdfunding market in Europe and the 17th largest crowdfunding market in the world. The countries ahead of Spain in Europe are the UK, the Netherlands, Germany, France, and Italy.

Spain’s crowdfunding volume primarily came from three debt-based crowdfunding business models: P2P consumer lending (€110.8 m), invoice trading (€96.3 m), and P2P business lending (€83.5 m). Together with P2P property lending (€19.8 m), the debt-based business models accounted for 83.0% of the total funding volume in Spain.

Below, you will find a complete list of all Spanish peer-to-peer lending platforms.

Table of Contents

Best Crowdlending Platforms in Spain

Here, you will find a list of the top peer-to-peer lending platforms in Spain. Under each platform, you will find a brief description of the platform and the type of peer-to-peer lending available for investing on the platform. The list is sorted alphabetically, but to promote platforms contributing to transparency in the market, we have placed the platforms sharing data about their funding volume and other relevant statistics on the top. If you see a platform missing, please feel free to submit the platform by using the submit formula located in the sidebar of this page.

Colectual

Colectual facilitates crowdfunding in the area of SME business lending to Spanish companies at a minimum investment of €100. The platform exclusively offers financing to sustainable SME companies with a focus on evaluating their corporate social responsibility performance. Colectual was founded in 2015 by Jose María Ferrer and Pedro Gómez as a Spanish company. The office and company is located in Valencia, Spain and exclusively offers financing to Spanish SME companies. All loans are in Euro(EUR).

Any natural or legal person of at least 18 years old.

Any Spanish company with annual reports of the last 2 years registered in the Spanish Company Registry being profitable and up to date with tax and labor obligations.

Crealsa

Crealsa facilitates crowdfunding in the area of SME business lending and receivable financing to Spanish companies at a minimum investment of €10,000. The platform offers different financial services, such as discounting Promissory Notes, receivable financing or lines of credit. Crealsa was founded in 2009 by Javier Chisbert Cuenca and José Molina as a Spanish company. The office and company is located in Pozuelo de Alarcón, Spain and exclusively offers financing to Spanish companies or invoices issued by a company registered in Spain. All loans are in Euro(EUR).

Any natural or legal person of at least 18 years old.

Any company registered in Spain can apply for selling an invoice or get a line of credit.

Criptalia

Criptalia facilitates crowdfunding in the area of SME busines lending to Spanish and Italian companies at a minimum investment of €20. The platform offers financing exclusively for business development with different solutions, including loans, convertible loans and bonds. The platform only offer financing for growth and not for working capital, taxes, cashflow, debt restructuring and other non growth related needs. Criptalia was founded in 2018 by Diego Dal Cero, Matteo and Vallin as an Italian company. The company is located in Bergamo, Italy but also has an office in Barcelona, Spain. All loans are in Euro(EUR).

Any natural or legal person of at least 18 years old can invest in Criptalia. Professional investors and institutional investors are also welcome on the platform.

Any company that have a history of at least 3 years and can present the last two years of positive financial statements can apply for a loan between €30,000 and €5,000,000 with a duration from 2 to 5 years.

Housers

Housers facilitates crowdfunding in the area of real estate lending to properties and individuals at a minimum investment of €50 EUR. The platform offers financing for real estate oportunities, business projects and sustainable projects among others. Housers was founded in 2015 by Alvaro Luna and Tono Brusola as a Spanish company. The main office and company is located in Madrid, Spain but also facilitates financing to Portuguese and Italian properties from their offices in Milano and Lisboa. All loans are in Euro(EUR).

Any natural or legal person of at least 18 years old.

They do not accept investment from accounts of the following countries: Afghanistan, Barbados, Belarus, Burma, Bosnia-Herzegovina, Bosnia, Burundi, Korea, Egipt, United Arab Emirates, Ethiopia, United States of America, Guatemala, Guinea, Guinea-Bissau, Iran, Iraq, Lebanon, Libia, Macau, Mali, Mongolia, Namibia, Panama, Central African Republic, Congo, Russia, Samoa, Somalia, Sudan, Sri Lanka, Syria, Ukraine, Venezuela, and Yémen.

All companies legally registered in any European Union country with a financing volume up to €5,000,000 per project.

In the case of natural persons, they must be tax resident in any country of the European Union.

MyTripleA

MytripleA facilitates crowdfunding in the area of SME business lending and receivable financing to Spanish companies at a minimum investment of €50 and maximum of €3,000 per project(if it is not an accredited investor) from a duration of 1 month to 5 years. The platform offers financing for SME companies, freelancers, and entrepreneurs. MytripleA was founded in 2013 by Jorge Sanz and Sergio Anton as a Spanish company. The office and company is located in Soria, Spain and exclusively offers financing to SME companies, entrepreneurs, and freelancers that has activities in Spain. All loans are in Euro(EUR).

Any natural or legal person of at least 18 years old.

Every company or freelancer who fulfill the following requirements:

  • Headquarters or activity in Spain
  • No relevant incidents of delinquent debt or bankruptcy
  • That they have positive equity

Arboribus

Arboribus facilitates crowdfunding in the area of SME business lending to Spanish companies at a minimum investment of €20 . The platform offers financing for business development, working capital, new investments, and debt restructuring among others. Arboribus was founded in 2011 by Carles Escolano and Josep Nebot as a Spanish company. The office and company is located in Barcelona, Spain and exclusively offers financing to Spanish SME companies. All loans are in Euro(EUR).

NoteIn March of 2019 Arboribus ceased publishing new projects in their marketplace waiting the entry of new institutional investors that allows them to gain more financing volume.

Any natural or legal person of at least 18 years old with a bank account in the European Union.

Any company that fulfills the following requirements:

  • Be established as Limited or Public Limited Company
  • Have the annual accounts of the last 2 years deposited in the Mercantile Registry and with an up-to-date accounting
  • Have a tax address and bank account in Spain
  • Have no relevant legal issues or outstanding default at debt.
  • Be profitable in the last 2 years
    Have a turnover of more than one million euros

Ecrowd!

Ecrowd! facilitates crowdfunding in the area of SME business lending and consumer lending to companies and individuals with social impact projects at a minimum investment of €50 and maximum of €3,000 per project. The platform offers financing to real economy projects that are profitable and that have a positive impact on society or the environment such as investments in energy efficiency and renewable energy projects. Ecrowd! was founded in 2013 by Matthieu van Haperen as a Spanish company. The office and company is located in Barcelona, Spain and exclusively offers financing to Spanish SME companies. All loans are in Euro(EUR).

Any natural or legal person of at least 18 years old.

Any company, municipality or individual with a project economically viable that also generates a positive impact on the society or the environment with a financing volume from €25,000 to €300,000.

EthicHub

EthicHub facilitates crowdfunding based on blockchain technology in the area of agricultural lending to developing countries farming at a minimum investment of €20 or equalent in crypto currency. The platform offers financing to small farmers helping them increasing their productivity, improving the sales conditions of their production and creating a digital credit identity that can be used in the financial system. EthicHub was founded in 2017 by Gabriela Chang, Jori Armbruster, and Raul Martinez as an Spanish company. The office and company is located in Madrid, Spain but exclusively offers financing to the farming industry in developing countries. All invoices are in Euro(EUR), Dollars(USD) and DAIs but investors can fund their accounts with more than 60 different crypto currencies.

Any natural or legal person of at least 18 years old can invest in EthicHub.

Any farmer in any developing country can create a Local Note and thereby borrow money through EthicHub, but it is required that an outside person is helping to organise, validate the information provided by the farmers and supervise the use of the funds. These individuals follow the Local Node Manual through their work. One of the main tasks of EthicHub is to search, select, train, support and supervise the creators of local nodes.

Grow.ly

Grow.ly facilitates crowdfunding in the area of SME business lending to Spanish companies at a minimum investment of €20. The platform offers financing for business growth projects, working capital and collaborating with its development among others. Grow.ly was founded in 2013 by Mireia Badia as a Spanish company. The office and company is located in Madrid, Spain and exclusively offers financing to Spanish SME companies. All loans are in Euro(EUR).

Any natural or legal person of at least 18 years old with a bank account in the European Union.

Any company that is registered in Spain and able to provide reports of minimum two years activity with a minimum turnover of €200,000 without outstanding defaulted debt. The financing volume ranges between €6,000 to €300,000 and the duration from 1 to 36 months.

Loanbook Capital

Loanbook Capital facilitates crowdfunding in the area of SME business lending to Spanish companies at a minimum investment of €50. The platform offers financing to companies needing working capital, lines of credit and general loans to reduce dependency on traditional sources of financing. Loanbook Capital was founded in 2012 by James Buckland and Octavio Soler as a Spanish company. The office and company is located in Barcelona, Spain and exclusively finances Spanish SME businesses. All loans are in Euro(EUR).

Any European person of at least 18 years old with a EU bank account can invest on Loanbook Capital. Companies and foundations must be registered in a EU country Commercial Registry.

Any Spanish SME company with a platform creditrating of medium to high and without any credit incidents can apply for a loan on Loanbook Capital.

StockCrowd IN

StockCrowd IN facilitates crowdfunding in the area of real estate lending to Spanish property professionals. The minimum investment of opportunities depends on the project and the real estate developer, but usually investments starts from €50. The platform exclusively offers financing to real estate developers, property investment managers and real estate groups with an extensive professional career. StockCrowd IN was founded in 2016 by Javier Villacampa and Sergi Pallarès as a Spanish company. The office and company is located in Barcelona, Spain and exclusively offers financing to Spanish property companies. All loans are in Euro(EUR).

Any natural or legal person of at least 18 years old from Spain or having their residency in Spain.

Any company with proven experience in the sector such as real estate developers, property investment managers and real estate groups can apply for a loan on StockCrowd IN.

Taxation on Peer-to-Peer Lending in Spain

Interest earned from peer-to-peer lending in Spain is taxed as income from movable capital as stated in the Spanish personal income tax law. If the investor is a natural person resident in Spain that happens according to the following progressive tax rates:

  • Up to €6.000: 19%
  • From €6.000 to €50.000: 21%
  • Over €50.000: 23%

Most Spanish peer-to-peer platforms will automatically withhold 19% as this is the lowest tax rate. However, this is not true for all Spanish platforms, so make sure to check how tax is handled on the platform(s) where you invest. In general, international platforms will not be withholding tax on your behalf but again – exceptions do exist.

If the project owner is not a Spanish resident, other rules may apply.

Keep in mind that this should not be considered tax advice and can be outdated, why you should always contact a tax adviser when handling your taxes.

Spanish Regulation on Lending-based Crowdfunding and P2P Lending

Since there is still a lack of common rules for crowdfunding in the European Union, regulation of peer-to-peer in Spain is based on national legislation though this might change in the foreseeable future as the European Commission in March 2018 presented a proposal for a regulative framework on crowd and P2P finance as part of their Fintech Action Plan.

Below, you will find an overview of some of the most important aspects of the regulatory framework for lending-based crowdfunding in Italy. These highlights can also be found in the impact assessment accompanying the proposal for a regulation on crowdfunding in the EU.

  • Bespoke Regime: Yes
  • Scope of lenders and borrowers: Consumer-to-Business; Business-to-Business; consumer-to-consumer. Loans can be solicited for a business, education, or consumer project.
  • Entry into force: 29 April 2015
  • Authorisation: Authorisation and registration with CNMV after mandatory and binding opinion from Bank of Spain.
  • Money handling: Platforms might only receive funds on behalf of investors or borrowers if they do have the purpose of payment and the platform has been granted an authorization as a hybrid payment institution. They should segregate their own funds and their clients’ funds into separate accounts.
  • Minimum capital requirements: €60,000 (share capital), a professional liability insurance, or a combination of both. If funds that are raised exceed €2 million, equity will amount to €120,000 (and increased in proportion to the funds raised, up to €2 million).
  • Type of loans: Fixed or variable rate loan; profit-participating loans; senior and subordinated loans; unsecured and secured loans (but projects shall not be secured by a mortgage on the borrower´s main residence. Furthermore, promotors that qualify as consumers according to the general consumer protection laws may not apply for a mortgage-backed loan).
  • Business continuity requirements: Platforms must have effective mechanisms in place that ensure that, in the event of cessation of activity, essential services are provided to those projects that had successfully obtained funding.
  • KYC rules (suitability or appropriateness; AML checks): Platforms must assess the experience and knowledge of their clients and verify that they can make their own investment decisions and understand and prioritize information risks.
  • Size of loans: €2 million per project, per platform, in a given year. €5 million, if the offer is limited to accredited investors.
  • Maximum investable amounts:
    • Non -accredited investors: €3,000 per project and €10,000 max a year.
    • Accredited investors: no limit. Accredited investors are (i) Institutional investors; (ii) Companies with €1 million of assets, €2 million of annual turnover or €300,000 of equity; (iii) Individuals with €50,000 of annual income or €100,000 of financial assets.
  • Disclosure to investors by borrower: Description of the project seeking funding and borrowers’ main features.
  • Information requirements & risk warnings by platforms: Information on the platform itself, (especially on how the projects are selected) and on the loan. General warnings on risks to non-accredited investors.
  • Due Diligence: Platform shall verify that the information about the project required under the law to be disclosed to investors is complete.
  • Conflict of interest: Platform to publish a policy on conflict of interests; Platform’s directors, managers, employees to avoid conflict of interests; Shareholders of platforms cannot provide advice on projects. Platform, directors, managers, and significant shareholders can invest in a project (max. 10%) and can act as an issuer (max. 10% of funds raised through the platform)
  • Professional requirements: Recognised knowledge, experience, and professional repute of directors and managers.

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