Indemo Review 2026: a Regulated Real Estate Investment Platform

On Indemo, you invest in secured loans in the European union - meaning all projects present on the platform are backed by property, which is the foundation of the investors funds safety on the platform.

For mortgage loans, the LTVs (Loan To Value) on the platform are usually low, meaning that the amount of the loan of a given project is always much than the value of the asset attached to the project. This means that in case of a problem with a project, the asset that will be sold to cover the loan will be more than enough to give the money back to investors & to cover all the legal costs associated with the sale.

For discounted debt investments, we have to look at the PTV (price paid for the debt divided by the value of the property), which shows the discount paid for the attached real estate, which usually is around 50% on the debts I've seen so far on the platform. In practical terms, it means the real cash buffer to secure investors' potential returns from the possible price fluctuations that the attached real estate might have when sold on the market at the end of the recovery process.

Also, all mortgaged real estate offered on Indemo are factual operational premises, either apartments or private houses. It is significant, as the construction and development risks are absent there, which we have seen recently on other real estate investing platforms when it was hard to recover invested amounts from the construction sites or not commissioned estates.

Finally, the company is fully regulated and supervised by the Central Bank of Latvia, meaning your funds are also protected up to 20,000 Euros by the EU investor compensation scheme. Then, Indemo has passports to operate as a regulated investment company in several European countries, including Germany – where it is listed on BaFin database and Spain, listed in the CNMV database.

I also always have a close look at where the projects on the platform are coming from, as this is usually where a platform will start to have issues if anything bad happens like a financial crisis.

First, it's worth noting that for all projects present on the platform, Indemo is doing a careful research so only the best investments end of of the platform for investors - also using market valuations done by independent appraisers like Idealista, a well-known real estate platform in Spain, or classic valuators like Tinsa and Thirsa.

Both loan origination and debt servicing and collection is performed by a Indemo partnering professional servicing companies authorised by the Bank of Spain as real estate lending entity.

On Indemo, there are two main types of projects as I already mentioned before.

The first type of projects available on the platform are discounted debt investments, which I found really interesting and unique to this platform. It basically consists in investing in loans on which the borrower failed to pay, and therefore the bank will sell those properties with a significant discount on the market. Then, once the property is actually sold, investors will make good profits on the sale.

Discount debt investments are created from mortgage loans on which the borrower has not made payments. The large Spanish banks (like Sabadell, Santander, BBVA, Caixabank etc.) sell these loans on the loans market at a considerably discounted price, including the real estate asset associated with them.

By investing in bonds, we as investors gain exposure to those debts at a considerable discount, usually in the basket of eight debts. Once each attached property is sold for its market value, the investor receives a 50% profit share from the differential between the discounted price paid and the proceeds from the sale of the property. Usually, the average discount for objects placed on Indemo platform is around 40%.

Investor gets repayment of the part of the investment amount and profit allocation once each and any debt in the basket is recovered. The debt recovery and servicing of the debt is performed by professional servicing. Discounted debts do not generate recurring payments, however, they can generate higher returns with the proceeds from the sale of the associated home as collateral.

You can assess the valuation of the attached real estate by your own, check the location, photos, and market value assessed by Thirsa.

The major transparency and engagement tool is the Flow page. It in real time follows each debt recovery and real estate foreclosure progress, basically answering to the question when my money will be repaid and I will earn the profit.

The second type of project, the most classic one, is mortgage loans. Here, you invest in loans that are backed by real restate on the Spanish market, meaning a lower market volatility for investors.

Also note that because Indemo is a regulated platform, you don't directly invest in loans on the platform but in Notes, that are financial assets that usually encapsulates 8 different loans, meaning more stable returns and diversification by default for investors.