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Stikcredit Analysis

Loan Originator Debt
Peer-to-Peer Lending
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Last updated in April 2023.

What is Stikcredit?

Afranga is a loan originator-owned debt investment platform by Stikcredit. The platform was launched in early 2021 and offers retail investors short-term Bulgarian personal debt in fractions of €10 exclusively from the parent company Stikcredit. Afranga has funded more than €39.5m worth of loans to date and during the past 12 months an average of €1.75m has been funded every month - see Afranga statistics for more historical funding volume insights.

Key Takeaways

  • Owned and run by a well-established, profitable non-banking financial institution from Bulgaria
  • Short-term personal loans and medium-term installment loans secured with a buyback guarantee
  • High advertised returns (up to 18%); no loan performance statistics published

How Stikcredit Works

Afranga offers two types of personal loans:

  • Short-term loans of €50-€400 with terms of 5 to 30 days scheduled to be repaid by a single repayment at maturity
  • Installment loans of €100-€2,500 with terms of 3 to 24 months. These are repaid in equal monthly installments.

All loans are covered with a buyback guarantee, which means they intend to buy back any loans overdue by more than 60 days.

Afranga offers their investors to automatically invest in available loans on the platform. There is no secondary market or early exit options available.

Stikcredit Returns & Fees

Afranga advertises annual returns of up to 18%. According to Afranga’s COO Yonko Chuklev, investors can expect real returns of 16.8% per year, which is the interest rate on most loans. However, no loan performance statistics are publicly available.

Investors don’t incur any fees, and the borrower fee structure is undisclosed.

Stikcredit Management

Afranga is owned and run by StikCredit - a Bulgarian non-banking financial institution and consumer finance company that has operated since 2013. At Afranga, investors re-purchase loans originated by StikCredit. There are three people mentioned on their About Us-page. The COO Yonko Chuklev, the head of marketing Ivaylo Yovkov, and the head of customer support Mariya Miteva. 

In 2020, Stikcredit raised €160,000 via an equity crowdfunding round on Seedrs. Stikcredit has retained stable profits over the years - according to unaudited financial statements, StikCredit reached a net profit of BGN 5.1m in 2021 (approx. €2.6m), up from BGN 4.6m (roughly €2.3m).

Special Considerations

Afranga is a relatively new platform. In an interview with P2PMarketData, Afranga COO – Yonko Chuklev, tells us about their ambitions for the future:

We have bold plans to grow Afranga into becoming one of the leading European P2P marketplaces by adding a number of selected loan originating companies and developing a diversified portfolio of loan products. I would say we consider as competition large established platforms operating in the personal loan asset class with assets under management of EUR 50+ million.