Esketit Review – 13% return on investment and a serious company in the background

The history of Esketit

How to deposit funds

Depositing money is always the easiest step in investing in P2P loans. In your account, you will see the “Deposit & withdraw funds” menu item below your account summary. When you click on it, the bank account number that you can use for your transfer will appear. Please note that you must use your investor ID as the purpose of the transfer. This will also be displayed directly in the transfer details.

For the transfer, you can also create a payment template at your bank. I have also done this with many other platforms. Please note that the first transfer must come from your personal bank account. The bank account used will then be verified for future withdrawals.

Here’s how to deposit money on Esketit.

In addition to the possibility of a normal deposit, you have been able to deposit with the cryptocurrencies USDC and USDT for some time. These are then converted to EUR at the current market price in the background, with which you can invest in P2P loans. There are no special costs for this. I have already tested this myself and it works flawlessly and quickly.

As one of the few P2P platforms, Esketit accepts cryptocurrencies.

How long does the deposit take?

Based on my Eskeit review, deposits usually take around 1 – 2 business days. However, if you use providers like Revolut, it can be even faster, and sometimes the funds are credited within minutes. This means that the money is usually available in less than an hour.

How to withdraw funds

If you wish to withdraw capital or excess interest from the P2P platform, you can use the same menu like before (“Deposit & withdraw funds”). You can find the withdraw options below the deposit options.

Investors can only withdraw funds to the bank account from which the deposit was made. If you want to register a new account for the withdrawal, you must make a new deposit from a new personal account. You can also use multiple accounts in parallel for withdrawals, but you must register them once.

As with the deposit, you can also have your funds paid out in the cryptocurrencies USDC and USDT.

Can I deposit and withdraw with credit card?

Currently, you cannot use credit cards for deposits and withdrawals. These transactions must be done exclusively through a bank account. Depositing via a bank account also serves the purpose of identification among other things.

Esketit Review – How does the platform work?

Now let’s get to the questions about investing on the P2P lending platform. I can answer many of your questions directly from my Esketit review and as well from my experience as I have been investing there for some time now.

After registering on the platform, you can start investing in loans. You can do this in two ways:

1. manually
2. or automatically

As the name of my blog suggests, I prefer the fully automated version, which we will come back to later. In the primary and secondary markets, on the other hand, you can filter, view the loans and invest in those that appeal to you the most.

The primary market of Esketit

The Esketit Auto Invest

The Auto Invest feature on Esketit is very easy to use and quick to set up. With a few clicks and decisions, you’re done and the platform will invest your money automatically.

Please note again that business loans generally do not have a buyback guarantee. If you only want to invest in loans with a buyback guarantee, you should also transmit this to the Auto Invest.

By the way, you can also create multiple Auto Invests for different strategies if you want.

The Auto Invest von Esketit.

You also have the option of using Esketit’s managed strategies. In this case, you are done with one click and don’t have to do anything else. I personally use the “Jordan” portfolio here, as I don’t have these investments on any other platform. Another advantage is that you can also sell your investment to other investors with one click (without fee).

portfolios managed by Esketit.

In which loans you can invest in on Esketit?

If you invest in P2P loans here, you will earn your return mostly from classic P2P consumer loans. However, there are also business & real state loans on the platform. Please note that investments in business loans generally do not have a buyback obligation.

Since the end of 2023, there has also been an asset class that you won’t find on any other P2P platform. And that is music royalties, an incredibly exciting topic.

Since 2024, you can also invest in NPLs (non-performing loans), i.e. loans that have already defaulted. A no less exciting concept.

In which countries can you invest?

You can invest in loans from currently 6 countries on this platform. Namely in:

• Latvia
• Spain
• Poland
• Liechtenstein
• Jordan
• and the Czech Republic

Even though Esketit was launched by CreamFinance / AvaFin, it is now set up as a marketplace and is no longer dependent on just one lender. I assume that new lenders will continue to join the platform from time to time.

3 of the loan originators on Esketit.

What fees are charged on Esketit?

There are no fees for investors on the primary or secondary market investments.

What is the return on Esketit?

The return you can generate on the platform is more than competitive with platforms like Mintos or Peerberry. You can always see the officially communicated average in the table at the beginning. You can always find my own return based on my previous Esketit experience in my public statistics.

What is the minimum investment amount on Esketit?

You only need to invest 10 EUR per loan on the platform to be able to invest. This is in line with the usual range for consumer credit platforms.

Is there a buyback guarantee on Esketit?

Yes, the P2P platform or their lenders offer a buyback guarantee. However, there are also some loans without a buyback guarantee.

The buyback guarantee or buyback obligation takes effect after 60 calendar days. The lender then buys back the loan and reimburses all interest accrued up to that point.

In addition to the buyback guarantee, some companies also offer a group guarantee. Namely those that belong to the AvaFin Group. With the group guarantee, the entire group of companies steps in financially if a lender defaults.

Is there an app for Esketit?

No, there is currently no app for the P2P platform and, to my knowledge, there are no plans for one. However, the website is extremely fast and easy to use, which eliminates the need for a smartphone app.

Is there an Secondary Market of Esketit?

Esketit has a secondary market, which is not common for such a young platform. Here you can buy and sell P2P loans with discounts and markups. The P2P platform therefore offers a really decent and useful secondary market. Unfortunately, it is not yet possible to automatically buy loans from the secondary market.

The Secondary Market from Eskeit.

Can I invest in other currencies?

Yes, since 2023 you can invest money on Esketit in US dollars as well as euros. For this purpose you have your separate account, which you can switch in the top right corner of your dashboard. Please keep in mind that you are exposed to currency fluctuations when investing in US dollars.

On Esketit you can invest in US dollars.

How does the taxation work for Esketit?

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 Esketit?

Yes, you can download a verifiable PDF from your account statements. This contains all the information you need for your tax office.

You can find the option to download a tax certificate in your account statements.

Esketit Risk

From my Esketit review so far, I can already report quite a bit, as I am an active investor on the platform and have also known the lender behind it for years.

How does Esketit make money?

Esketit earns money on the business side mainly through the lenders. As in other marketplaces, they pay platform fees for the flat-rate usage and the dynamic volume transacted through it. The percentage of the fee is probably negotiated individually with the lender.

In this case, the platform is also still funded by its founders – Matiss Ansviesulis and Davis Barons – and by CreamFinance itself.

Does Esketit operate profitably?

Esketit itself is still too young to be able to say that and does not yet offer any annual reports. So we have to rely on the annual reports of the CreamFinance Group or now AvaFin. You can see them in the “Loan Originators” section. But only if you are registered and logged in. But I have linked it here from my login area. Esketit may forgive me 🙂

According to this audited report, the parent company is most recently in profit with just under EUR 3.4 million and has returned to profitability after an exceptional year in the red.

Excerpt from the AvaFin Annual Report 2022

What happens if Esketit becomes insolvent?

In the event that the P2P platform runs into financial difficulties or has to file for insolvency, the company will probably be wound up by a third party or insolvency administrator and existing loans will continue to run. However, CreamFinance / AvaFin is still in the background. I think an insolvency of the platform without the group also going bad is very unlikely.

How serious is Esketit?

Despite its age, I consider Esketit to be a reputable P2P marketplace. This is largely due to the fact that behind it we have a seasoned lender with a lot of experience. The two founders in particular have been in the business for years and are well-known personalities. A scam or fraud, as we have seen several times in the industry, can therefore be virtually ruled out here (in my opinion).

How secure is Esketit?

Again: With the strong group behind it as a partner, I see the platform as safe as long as CreamFinance /AvaFin is doing well. So you should keep an eye on it if you want to invest significantly here.

Does Esketit have a deposit guarantee?

No, definitely not. Esketit is not a bank and therefore does not fall under any European deposit insurance. All the money you invest on the platform is exposed to a high risk of default.

Are there any defaults on Esketit?

Every P2P platform has outages, and this is certainly the case here. However, they are not sharing this information at the moment, but assured me that the failures are going according to plan and can be easily compensated. This statement can be believed, as only a small part of the CreamFinance Group / AvaFin is currently financed via Esketit.

Esketit Review in crisis situations

From my experience with Esketit, I can confirm that investors of the P2P platform have been relaxed through any crisis so far.

Esketit in the Ukraine crisis 2022

During the war in Ukraine, there has been no impact on the P2P platform, as no loans were offered in the affected countries. There were also no noticeable changes in the monthly volume.

Development of the platform’s loan volume since its launch.

Advantages and disadvantages of Esketit

Before we come to a final conclusion about the P2P platform, here is a summary of my advantages and disadvantages based on my Esketit review and my external observations.

Disadvantages ➖

• Even if there is an experienced lender in the background, Esketit is very young as a P2P platform!
• You invest through Esketit in many different foreign jurisdictions, where recovering losses in case of hardship can be difficult.
• The track record is still short.
• Esketit is not regulated.

Advantages ➕

• Almost all P2P loans have the buyback guarantee and the cash flow can thus be planned well.
• If something goes wrong on the platform, we have a strong partner behind us in the CreamFinance / AvaFin Group.
• The return on investment is very attractive.
• A parent company that has been active for years, combined with a CEO who has worked for years at Mintos in an important position, seems like a good mix to me.
• Esketit is very simple to use and generates cash virtually from day one.
• Deposit via cryptocurrency possible.
• Instant exit possible.

Evaluation of my Esketit Review

Esketit is still a new P2P platform on the market and I have not been invested here for long yet, but I plan to gradually increase the P2P platform. If I compare Esketit with my other P2P platforms that I started with earlier, we can already see a clear leap in development here.

Platforms have learned from mistakes and experiences. Experienced team members are combined here and they set up a decent P2P platform right from the start, which is both technically and visually appealing. I will definitely continue to follow the platform closely and perhaps increase my current investment to EUR 20,000.

Is there a bonus or friends-refer-a-friend program to start on Esketit?

You can refer friends on Esketit or let them refer you. The current program gives you 1% cashback over 30 days. However, you can benefit 0.5% cashback after 90 days with a new signup using my link. Of course I am very grateful if you use my link to value the information you have found here. You will only get advantages, no disadvantages! But even if you do not use my link, I am glad that you have been here.

0.5% cashback on investments for the first 90 days!*