Devon Review 2025 – Real estate investments with daily payouts?

Last updated on:Juli 8, 2025

Devon is a modern financing platform that was launched in 2025 as part of the MJL Enterprises Group from Latvia. It gives investors access to exclusive, real estate-backed projects with attractive annual yields of more than 14% in some cases – with daily interest payments and optional compounding.

Devon is backed by a developer with over 30 years of experience in the real estate sector. The platform combines digital simplicity with the security of experienced developers, group guarantees and transparent project development. An exciting approach for anyone looking for alternative investments with solid basic security.

After carefully evaluating the project and thanks to launch cashbacks and an attractive first project, I invested EUR 10,000 right from the start. I am making the findings of my evaluation available to you here. By the way, it’s no coincidence that the platform looks and feels like Ventus Energy. We will come back to why this is the case later on.

You can find additional tutorials on the homepage of the English section of my blog.

(Currently +4% cashback on selected projects.)

Skin in the Game: I am invested in this P2P platform with over EUR 10,000!

ᐅ Disclaimer
Please note my disclaimer. I do not provide any investment advice or make any recommendations. I am personally invested in all the P2P platforms I report on. All information is provided without guarantee. Past performance is not indicative of future results. All links to investment platforms are usually affiliate/advertisement links (possibly marked with *), where you can benefit, and I earn a small commission.

Inhalte

What is Devon?
- Why does Devon look like Ventus Energy?
Devon Review – All important data at a glance
- The history of Devon
- The lates news from Devon
Registration for investors
Devon Review: How does the platform work?
Is investing with Devon risky?
Advantages and disadvantages of Devon
- Disadvantages ➖
- Advantages ➕
Conclusion of my Devon review

What is Devon?

As part of the MJL Group, Devon is a real estate investment platform that gives investors access to exclusive residential projects in Latvia. What makes it special: All projects come from the group’s own portfolio and are designed, planned, built and managed entirely in-house. This means that there is no third-party risk. Investors benefit not only from a daily interest payment and an optional compound interest effect, but also from a comprehensive group guarantee from MJL Enterprises.

The MJL Group itself has been active in real estate development for over 30 years and has earned a reputation as a reliable partner in Latvia. Key partners include Swedbank, Estateguru, Profitus and the state development bank ALTUM. In addition, several projects have been funded in cooperation with European institutions. MJL covers the entire value chain: from module construction production, project development and financing to administration and sales.

Thanks to this vertical integration and the elimination of external financing platforms, Devon can not only offer transparent, high-quality projects, but also realize above-average returns of well over 10% p.a. with daily distributions – an attractive overall package for yield-oriented investors.

The first companies in the MJL Group were founded in 1993.

Why does Devon look like Ventus Energy?

Devon is based on the platform technology of White Label Solutions, an outsourced company of the Ventus Energy Group. Following the success of its own energy investment platform, Ventus Energy established this separate entity with the aim of developing and technically supporting customized financing platforms for external clients.

Devon was established as part of this white-label offering and therefore uses the same technical foundation as Ventus Energy’s platform – including infrastructure, transaction processing, AML compliance, marketing and support systems. However, Devon is a stand-alone company, fully managed by MJL Enterprises and has nothing to do with Ventus Energy. The visual and technical similarity results solely from the shared technology stack, not from any organizational connection.

In my opinion, this provides an additional layer of security for investors, because the White Label Solutions team has known the P2P market for at least as long as I have and not every request to build a platform is accepted. So they always check who is behind it and whether a corresponding financing concept would have a chance on the market. Otherwise, there are only disadvantages for white label solutions.

The offer from White Label Solutions.

Devon Review – All important data at a glance

Before we go into the details of the Devon review, here is the most important data for you in one place.

Started:	2025
Company Headquarters:	Riga, Latvia, but trading as Devon OÜ in Estonia
CEO / Corporate management:	Janis Lagzdins, there from the start
Regulated:	No
Assets under Management:	approx. EUR 2.01 million
Financed Loan Volume:	approx. EUR 2.01 million
Number of Investors:	approx. 315 (only active ones are counted)
Return on Investment:	16.2% according to the platform’s data
Buyback guarantee:	Yes, there is an MJL Enterprises payment obligation that takes effect after 90 days.
Minimum investment amount:	1.000 EUR
Auto Invest:	No
Secondary Market:	No (but early project exit possible)
Issue of a tax certificate:	No
Investor loyalty program:	Not yet.
Starting bonus:	Yes, 1% of the amount invested after 60 days via this link* (immediate credit).
Rating:	not yet rated
Community Voting:	not yet rated
Last annual report:	No annual report published to date due to the company’s age.

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The history of Devon

2024: Foundation of Devon.

The lates news from Devon

06/25: ReBalt Modular (Devon Network) receives €570,000 in financing from Swedbank.

06/25: The May operations report has been published.

05/25: Devon announces the completion of the first building of the Jelgava project.

Registration for investors

Registering on Devon is not particularly complicated. It consists of the following steps:

Create an account by entering your e-mail address and password.
Enter your personal data.
Verification of your identity (e.g. with your identity card).

You will soon be able to register with your company if you have one and want to invest through it. As of today, this is not yet possible. After registration and payment, you are then ready to invest in your first real estate projects.

Registering with Devon is quick and easy.

Devon Bonus

Via my link* you will receive 1.0% cashback on all investments you make in the first 60 days after your registration. The bonus will be credited immediately after the investment.

From time to time there are also limited-time bonus promotions at Devon. These are always listed promptly in my P2P platform comparison. After signing up, you should also see a large banner in your account with a timer running down. This tells you that the registration via my link has worked. If this is not the case, simply get in touch using the contact form.

After your registration you should see the banner with the timer.

If you use my link, you do not need to enter a referral code when registering!

How do I deposit money?

As always, depositing money is the easiest step when investing money. In your account, click on “Deposit / Withdrawal” and you will be taken directly to the deposit screen. Here you can then transfer money to the account stored there.

Please note that the transfer must come from a personal bank account. This will also be verified for subsequent payouts.

The deposit details of Devon.

How do I withdraw money?

If you want to withdraw capital or surplus interest from Devon, you also go via “Deposit / Withdrawal”, but then select “Withdrawal” in the tabs at the top.

You will not be charged a fee for withdrawing the funds. The funds can only be withdrawn to a bank account that belongs to you. If you wish to register a new account for withdrawal, you must make a new deposit from a new personal account. Funds can be withdrawn from EUR 10.

How long does the deposit take?

Based on my own Devon experience, the deposit to the platform’s account takes approx. 1 – 2 days. However, if you use Revolut* or Wise*, for example, the transfer is sometimes available more quickly.

Can I also deposit and withdraw by credit card?

At the moment, you cannot use credit cards for deposits and withdrawals. These must be made with a bank account. Depositing via a bank account is also used for identification purposes.

However, if you use Wise or Revolut, you can top up these accounts by credit card if you wish. You can then carry out the transfer to Devon via this.

Devon Review: How does the platform work?

After registering with Devon, you can use the “Invest” button to view existing projects and carry out your research. Investors manually select projects that are presented publicly with key facts and financial data.

The construction projects are usually relatively large, so it is worth reading up on the projects in detail.

For example, the first Devon project “Amber Park”.

In addition to the summary of the project, there is a whole range of other interesting information. Including the market situation, key financial figures and evaluation reports. So you can read in depth here.

Details of the “Amber Park” project.

You can also decide whether the interest should be reinvested directly in the same project or whether you want to have it distributed. I opted for the latter because of the initial amount and to see if everything works. It’s also cool that you can decide and set this individually for each project. The interest starts on the day after your investment and is paid daily (e.g. 0.039 % at 14.25 % p.a.).

Compound interest can be activated or deactivated daily.

This also increases the interest rate of the projects immensely, which you can see transparently on the portfolio page.

The magic of compound interest clearly visible.

After your investment, the interest is credited to your account daily, just like with Bondora Go & Grow or Monefit SmartSaver. Only at a slightly higher interest rate.

Interest payments at Devon are made daily.

Hint! If you would like to have a possible cashback paid out (this is normally added to the investment amount) and intend to invest more than EUR 1,000, you should first make the minimum investment (EUR 1,000), then switch off compounding and only then invest the rest. In this case, the cashback will be credited to your available funds and will NOT go to the project.

Example: Deposit EUR 10,000, invest EUR 1,000, switch off compounding, invest a further EUR 9,000 and the cashback on the EUR 9,000 can be paid out directly.

Is there an Auto Invest

Since there will only be very few projects on the platform and investors should also deal with these, there is no Auto Invest on Devon. I also doubt that we will see this in the future.

Is there a secondary market?

There is no secondary market for Devon. However, similar to Fintown or of course Ventus Energy, you do not have to hold the projects until the end of the term. There is a minimum term after which you can withdraw your capital (the minimum term depends on the respective project, in the example above already in October 2025).

The way this works is that your claim is bought up by another investor as soon as they invest in the project. So there has to be a certain demand for you to get out of the project. Devon will not provide any interim financing.

Attention! If you use the early exit option, part of the bonus you received will be deducted again. Depending on the project, you will find the relevant conditions in the project profile. So you cannot cheat Devon here, as often happened with Ventus Energy in the beginning.

In which countries can you invest?

On Devon, you can only invest in the domestic market of Latvia and there are only very large development projects so far. Some examples that have already been realized:

Amber Park, Jurmala (19 apartments), financed via Swedbank.
Villa Astor (Jurmala, 4,574 m²), financed via Crowdestate and Westkredit.
Celtnieku 1, Tukums (new 6-storey building, 4,528 m²), financed via Estateguru.

The Celtnieku 1 project, implemented with the help of Estateguru.

What projects can you invest in on Devon?

On Devon, you provide the company with money via a mezzanine loan, which is used for the development of real estate. In addition to the existing projects listed above, there are other major projects under construction. We can now participate in some of them.

Heila Park, Riga (232 apartments)
Dunte Park, Riga (50 apartments)
Amber Park, Jurmala (1601 m2), financed via Profitus
Ganibu, Jelgava (58 apartments), financed via ALTUM

Amber Park, one of the new major projects on Devon.

What are the costs on Devon?

Investing on Devon is free at all levels.

What is the return on Devon?

The return you can generate on Devon is attractive for development projects, which is mainly due to the mezzanine structure. Some of the projects have a return of over 14%. If you also take advantage of cashback campaigns, even more is possible. You can read about my own returns for the individual years in the statistics (German).

What is the minimum investment amount on Devon?

The minimum amount for an investment on Devon is an impressive EUR 1,000. I think the reason for this will be the experience of White Label Solutions, who use the same rate on Ventus Energy. This is to ensure that they are not working with super-small investors, as experience has shown that these are the ones who require the most support.

Does Devon offer a buyback guarantee?

Devon or MJL Enterprises offers a payment obligation after 90 days. In principle, projects in which you invest can be canceled. However, Devon will repay the basic amounts and interest in any case, as long as it is possible. However, if this is no longer the case, even the nice payment obligation is of no use! So, as always, you can lose all your invested capital.

Is there an app for Devon?

No, Devon does not currently offer an app for smartphones.

Can you invest money in other currencies?

No, on Devon you invest exclusively in euros. There is also no currency risk within the projects.

How exactly do taxes work on Devon?

The platform doesn’t deduct any taxes on your behalf. You are responsible for reporting your earnings to the tax authorities in your jurisdiction.

Is there a tax statement on Devon?

There is currently no tax certificate for Devon. However, this is currently under development and will be available by the end of 2025 at the latest.

Is investing with Devon risky?

I cannot deduce much from my Devon experience so far, as I have only recently become active on the platform. In addition, Devon still has little track record, so we can only speculate about many things. But of course we have MJL Enterprises in the background, which has existed for many years and of which Devon is a part.

How does Devon earn money?

Devon and MJL Enterprises generate income on several levels:

Sale of properties: as a developer, MJL typically earns from the sales of completed buildings or apartments as part of project execution and coordination.
Internal commissions: Additional brokerage or servicing commissions flow within the MJL group of companies, e.g. for technical implementation or administration.

Devon as a platform itself is purely a financing vehicle and does not earn any money.

Is Devon profitable?

Devon itself is irrelevant here for the time being due to the group structure. For MJL Enterprises, business figures for the various companies were presented in Latvian on request, which in my view showed no negative anomalies. The most important element in the holding company appears to be Ropex Building and Construction, which, according to my latest figures, had an annual turnover of over EUR 2 million and also made a profit. It is also the oldest element of the holding and has been in existence since 1993.

In my opinion, however, the entire holding structure is very difficult to examine and understand, as it involves more than 10 companies that all need to be understood and evaluated individually. This is clearly beyond my expertise. A consolidated group report would be desirable. For my personal current investment, however, what I have seen is enough for the time being. I have asked Devon to make the reports available to everyone on the website.

What happens if Devon becomes insolvent?

If something happens to the platform, this will not affect your investments for the time being and they will continue to run. In the event of insolvency, an insolvency administrator will then take over the processing of the remaining projects and payments and distribute the funds accordingly.

It is also important to know that there are 2 types of investors on Devon. The “senior lenders” outside the platform (e.g. banks) and the “mezzanine lenders” within the platform (that’s us). Mezzanine investors are not at the top of the “food chain” in the event of insolvency. But they do get a higher return.

We know from past experience that insolvency processes are lengthy and lack transparency. An insolvency of Devon is therefore a potential risk for your money! However, we have the advantage of a larger group behind us, which could cushion the impact of insolvency.

The exact structure of the capital can be looked up in each project.

How reputable is Devon?

As a platform, Devon is built on a solid foundation: the MJL Group has been active in the Baltic real estate market for more than 30 years and is an established player in the residential and commercial real estate sector. The company has built long-term trust through numerous successfully implemented projects in Latvia and full control over the entire development process.

The cooperation with renowned institutions such as Swedbank, the development bank ALTUM and P2P platforms already known to us, as well as EU co-financing, underlines the professional positioning of the group. It should be emphasized that Devon not only benefits from the experience of the MJL Group, but also from its extensive network within the industry.

The platform is also backed by an experienced core team with in-depth industry experience – for example from working with international consulting firms such as PwC. Or even P2P platforms! Olga Vikele, for example, was responsible for customer support on Debitum before Devon. In my view, this combination of operational expertise and strategic competence ensures the professional, well thought-out implementation of the platform and its investment projects.

However, not all that glitters is gold: there are indications of problems with two projects by MJL chairman Janis Lagzdins on Crowdestate (“Sprukstes iela 13, Riga” and “Mailīšu iela 5b, Riga”). There were delays in repayments and ongoing legal disputes. This does not affect Devon directly, but the fact should be kept in mind.

The Devon team makes a serious impression right from the start.

How secure is Devon?

The security of investments in Devon is based on several levels. Firstly, project collateral is provided with a maximum loan-to-value (LTV) of 60%. This means that the loan volume is set conservatively in relation to the project value – a proven approach to limit the risk for investors.

In addition, the MJL Group offers an intragroup guarantee that takes effect in the event of a default by the project company. This Group guarantee obliges MJL to reimburse the loan amount within 90 working days of the due date. This protection creates trust, especially at a time when the platform is still relatively new.

In addition, the platform ensures transparency through detailed project information, clear schedules and comprehensible construction progress reports. Nevertheless, it should be noted that the loans granted are mezzanine capital. This form of financing is subordinated to the senior loan and therefore carries an increased risk in the event of insolvency. Investors should take this risk into account when making their decision. All risks can also be found here.

Are there defaults on Devon?

No, there have not yet been any defaults on Devon. I am also not aware of any problems with MJL Enterprises, nor have I found any.

Is there deposit protection on Devon?

No, there is no deposit protection. Your funds held and invested on the platform are exposed to a default risk.

Is Devon crisis-proof?

No platform is completely crisis-proof! However, MJL Enterprises has probably been through quite a few crises, but obviously this has not resulted in them ceasing to exist today.

Advantages and disadvantages of Devon

Before we come to a final conclusion about the platform, here is a summary of my pros and cons based on my Devon experience.

Disadvantages ➖

The platform is not regulated.
Subordinated mezzanine loans.
High entry hurdle (EUR 1,000).
Very young company with a poor track record.
Annual reports not publicly accessible.

Advantages ➕

Attractive interest rates of over 14% in some cases.
Daily interest and compound interest effect.
Group guarantee from MJL Enterprises.
All properties are secured and have a conservative LTV.
EU and state-subsidized projects.
Track record from other financing platforms such as Estateguru or Profitus available.
Devon manages 100% of its own projects and covers the entire value chain itself.
Early exit possible.

Conclusion of my Devon review

I myself invested EUR 10,000 on Devon right from the start – and I am well aware that this is a new platform. New platforms always entail a certain amount of risk, as there is still a lack of experience and reliable long-term tests. Nevertheless, I made a conscious decision to do so.

A crucial point for me is the so-called “law of the first project”: with new platforms, there is usually a particularly high focus on the first project launches. They can hardly afford to make mistakes in this phase. In my view, this increases the likelihood that these projects will go particularly well.

What also convinced me was the attractive overall package: an above-average interest rate of more than 14% p.a. in some cases, additional cashback and daily interest credits – a combination that is not often found on the market. In addition, Devon is based on the proven technology platform of Ventus Energy – a provider whose concept already works reliably and has been able to acquire over EUR 20 million.

The professional appearance and strong background of the MJL Group also speak for themselves. MJL is not a newcomer to the market, but already has a solid track record from other financing platforms and decades of property development experience. This gives me confidence, even though I remain aware of the risks.

I continue to monitor the platform closely and will share my experiences regularly – but my first impression is that it is well thought out, offers high returns and is solidly secured. However, my decision to invest here should in no way be taken as a recommendation. As always, you are responsible for your own actions and my decisions do not have to be your decisions!

Is there a Devon forum for discussions?

Devon has his own Telegram channel.

Is there a Devon bonus or a referral program at the beginning?

Yes, if you register via a link on this blog, you will receive 1% of the capital invested in the first 60 days as a bonus.

I would be grateful if you would use my links in appreciation of this free contribution. There are no disadvantages for you, only advantages.

What alternatives are there to Devon?

The platform Fintown from the Czech Republic offers a good alternative with a similar financing structure. A platform with the same functionality can be found on the Ventus Energy platform, which has already been mentioned several times, even if the projects here are not real estate projects. You can find more alternatives in my P2P platform comparison.

ᐅ Do you want more information about the different platforms?
Then take a look at my P2P platform comparison now. There you will find more information and/or articles about the platforms where I invest.

About the author

Hi there! I’m Lars Wrobbel, and I’ve been writing on this blog about my experiences with investing in P2P loans since 2015. I also co-authored the German standard work on this topic with Kolja Barghoorn, which became a bestseller on multiple platforms and is regularly updated.

In addition to the blog, I host as well Germany’s largest P2P community, where you can exchange ideas with thousands of other investors when you need quick answers.

Devon Review 2025 - 14% with real estate projects

Detailed Devon review for real estate projects with daily interest payments. Find out how you can benefit from double-digit returns.

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