Income Marketplace Analysis

Started in early 2021, Income Marketplace, also known as getincome.com, is a non-licensed peer-to-peer lending platform from Estonia. Income Marketplace serves as a bridge connecting investors with borrowers. The platform offers consumer loans from loan originators primarily based in Estonia, Latvia, Bulgaria, Indonesia, and Colombia.

Income Marketplace is open to individuals and companies, both of which must have a bank account in the EEA countries. Since its launch, the platform has raised more than €96.06 million, with an average monthly volume of €4.08 million in the last 12 months.^[1]

• Owned by the founders and private equity investors (including investment crowdfunding)
• Investment begins at €10 and all loans include a buyback guarantee
• Income Marketplace offers interest rates ranging from 9% to 15%.

Income Marketplace connects investors with borrowers across Estonia, Latvia, Bulgaria, Indonesia, and Colombia. It offers investments in individual loans and bundles of loans originated by partnered lending companies. Investments start at €10. All loans include a buyback guarantee if payments are missed for over 60 days.^[2]

Investments range from €220 to €31,000, with loan durations spanning from 1 month to 5 years. Interest is paid monthly on a scheduled basis as an amortized loan. Income Marketplace provides an auto-invest feature but does not offer a secondary market. The platform does not deduct taxes on interest earnings; however, it is up to investors to comply with the regulations of their respective countries.^[3]

Among the listed investments, Income Marketplace currently offers interest rates ranging from 9% to 15%. The platform has paid back more than €88.58 million to investors since its inception. Income Marketplace reports that 27% of the total outstanding loans are delayed by 1 to 30 days, while 8% are delayed by 30 to 60 days. Although the default rate is not clearly disclosed, it is worth noting that 1.4% of the loans are under buyback conditions as they are delayed by more than 60 days. There are no fees applied to investors. However, the platform charges a fee to loan originators, from which it derives its revenue.^[4]

Income Marketplace was launched by Kimmo Rytkönen and Mikk Läänemets, with Rytkönen serving as the CEO. Rytkönen also co-founded Tunaiku, the lending arm of Amar Bank in Indonesia. Alongside him is Jüri Pruulmann, an experienced CTO. Pruulmann serves as the technical architect at Income Marketplace, leveraging his expertise in financial solutions to actively ensure the technical security and operational stability of the platform. Maciej Wenerski, Head of Due Diligence at Income Marketplace, brings financial audit expertise from EY. He leads due diligence for loan originators.

Ownership of Income Marketplace is split between the founders and private equity investors. The company has raised a total of €3.3 million through several seed funding rounds, including crowdfunding platforms Seedrs and SeedBlink.^[5]

Singapore-based Tolaram Group, which owns one of the loan originators at Income Marketplace, has been the leading investor in all funding rounds. The platform does not disclose its financial statements.

Income Marketplace has recently revealed its new banking partnership. The platform has recently transitioned to Verifo. Verifo is operated by Verified Payments UAB, a licensed e-money institution in Lithuania, offering payment solutions across the EU.^[6]

In 2023, the platform experienced significant growth, with investors participating in diverse investment opportunities, leading to a 53% increase in the active portfolio. Total investments amounted to €52.47 million, with €50.89 million worth of loans listed and €50.48 million fulfilled. Investors earned €1.45 million in profits at an average interest rate of 14.6%. Additionally, the investor base grew by 39%.^[7]