Esketit Review 2024: a P2P Lending Platform with a Great Track Record

I love to diversify my Peer-to-Peer lending investments on as many great platforms as possible. In this article, I will review the Peer-to-Peer lending platform Esketit which I added to my portfolio in 2022.

In the article, I will tell you what I think are the biggest strengths (and weaknesses) of the platform, how to start using it, and what you can expect from investing on the platform. Let's start!

What is Esketit?

As for all Peer-to-Peer lending platforms, Esketit is a financial platform that matches borrowers with investors, that will lend money on the platform in exchange of interests on loans. Esketit is based in Riga, Latvia, and was founded in 2020.

They currently have around 3,000 investors, with 57M Euros worth of loans already funded on the platform. 

They are a relatively new platform, however what makes them different from other platforms in the field is that they were actually created by Creamfinance, which is a large and well known lending company. This gives Esketit a good track record as well. They also promise full transparency on all their numbers, which is of course something we'll verify in this review as well.

What returns can I expect from investing on Esketit?

Esketit currently advertises returns of 13.35% on average, putting it on the top of similar platforms in the field in terms of returns. That's of course something I'll verify as well while investing on the platform.

Is it safe to invest on Esketit?

The question of the safety of the investors funds is central when investing on a Peer-to-Peer lending platform, as they will be managing all the money that you deposit on the platform and invest it in loans. When reviewing a new platform before adding it to my portfolio, I look at three things: what the platforms offers in terms of guarantees, the company itself (and their team), and finally the loan originators.

Risks & guarantees on Esketit

On Esketit, all loans are covered by a buyback obligation, which is now pretty standard in the field of P2P lending but is already a good point for the platform.

They also have skin in the game on all loans present on the platform as they are both a platform and the loan originators for the loans. This means that they actually invest in their own loans, which means they are basically supporting their own loans originators via Esketit, making it a more reliable platform. 

As I mentioned earlier, they are also providing full transparency on their platform. This is indeed something I could see on the platform, with a very clear statistics page, as well as all details you could need about their loan originators & loans that are offered on the platform.

The company & the team

Esketit is a company operating from Riga, Latvia, and their company is registered in Ireland. As for all companies as I invest on, I checked that they are actually registered in that country, and they are.

As I mentioned earlier, they are completely transparent about their numbers and publish them monthly on their statistics page.

 They also are completely transparent about their team on their website, with a complete description of the role of each person in the team, which is also something I appreciate seeing on a platform. 

I for example checked the profile of their CEO, Vitalijs Zalovs, who has an excellent track record in the field as he spent 6 years working at Mintos, which is another excellent Peer-to-Peer lending platform that I also invest on.

Loan originators

I also always like to have a very close look at loan originators that a platform uses, as this is usually where a platform will fall short if anything bad happens like a financial crisis.  

The situation with Esketit is quite unique as all their loan originators are affiliated to the Creamfinance group, which is the principal partner of Esketit.

Via Creamfinance, Esketit has currently loan orignators from Czech Republic, Spain, and Mexico, all with a buyback obligation on loans as well as a group guarantee. They also offer loans from Jordan, via a loan originator that is also the property of the founders of Esketit.

They are of course also fully transparent about their loan originators, and it was really easy to find details about them on a page directly accessible from the main page of their site. They not only provide the numbers you see above but also all financial reports about each of the loan originators that you see above.

It's also worth noticing that Creamfinance has an excellent track record with no money lost for investors since 2012, which is very good news for investors on Esketit.

Getting started with Esketit

It is actually really easy to get started with Esketit, and in no time you can start generating interests on the platform.

The first step is to open an account and get verified. This was done really quickly, and it was all done within 5 minutes including the automated identify verification part.

Next, you will have to deposit funds in your account to start investing in loans and generate interests on Esketit. This is also easy to do as well, with a simple bank transfer.

Finally, you will have to choose a way to invest on the platform. The first option to invest is via their primary market:

They also have a secondary market that you can use to invest in loans that are already funded and that are being re-sold by other investors, which can be great to find some good opportunities or to get liquidity out of the platform.

However, I recommend investing on Esketit via their auto-invest feature, which is really easy to use and that will completely automate your investments on the platform.

What I liked is that you can actually choose between already existing strategies, or create your own from scratch.

I of course chose to create my own strategy, with the same parameters I use on every platform when possible: good interests rates, minimum investment in each loan, and short term loans: 

With those settings, there were over a thousand loans on the platform matching my criteria at the time I wrote this review, which is more than enough to invest even a decent amount of money, so this is definitely a good point for this platform.

After that, you simply need to activate the strategy, and you are basically done! The auto-invest function will then automatically invest your money and you will start generating money on the platform.

As for all platforms I reviewed, I also tried to withdraw money, and the money was back on my account in just 2 days.

My Own Returns with Esketit

Having been an investor on Esketit since 2022, it is too early to talk about my own average returns over time, but so far everything went smooth on the platform and I should be getting an average of 13% yield by investing on the platform.