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Esketit Analysis

Loan Originator Debt
Peer-to-Peer Lending

Last updated in July 2023.

What is Esketit?

Esketit launched in early 2021 and has been growing rapidly since then by offering investors the opportunity to refinance consumer loans by CreamFinance Group loan originators based in both developed and emerging markets. The platform has funded more than €265 million worth of loans to date with €17m funded on average every month during the past 12 months by a total of 13,000 investors.

Key Takeaways

  • A close circle of ownership between the platform, the parent company, and the loan originators; the CreamFinance Group backed by venture capital
  • Payday loans mostly from Czechia, Spain, Jordan, and Poland; buyback and group guarantees
  • Advertises +12% current average interest rates but does not provide insights into net returns on the investments

How Esketit Works

Investors can purchase already issued short-term personal loans (or payday loans) from loan originators by the CreamFinance Group based in four countries. Most investments come from the CreamFinance group subsidiaries in the Czech Republic, Spain, and Poland; much fewer deals are available from Jordan. Loan amounts don’t exceed €1,000 and can mature in up to 60 days. All deals are covered with a 60-day buyback guarantee, and loans originated by the CreamFinance Group have an additional group guarantee.

Investors can use an auto-invest feature and buy and sell investments at a secondary market.

Esketit Returns & Fees

The average interest rate, according to Esketit, stands at 12.75%. Investors can expect about 30-40% of loans to be delayed according to current statistics. There is no information about defaults on the Esketit website or the net return performance of the investments.

Esketit doesn’t charge fees to investors, while borrower fees are not disclosed and depend on the originating company.

Esketit Management

Davis Barons and Matiss Ansviesulis founded the platform. They are the CreamFinance Group owners, which is the main engine behind Esketit. The Group was founded in 2012 in Latvia and provides consumer finance services. At Esketit, deals from four CreamFinance Group subsidiaries are available for investment.

No financial statements are available for the platform itself. The latest financial data for CreamFinance Group is their 2021 annual report when the Group made approx. €3.4m profit. The Group is backed by over €30m in private capital (most recent series B), with South African Capitec as one of the strategic shareholders.

Special Considerations

Esketit uses blockchain to service transactions. You can also deposit and withdraw stablecoins (USDT and USDC).