Last updated: October 2026
Quick answer: Afranga is a Bulgarian, ECSP-licensed P2P platform owned by the consumer lender Stikcredit. Investors can hand-pick business loans on its Marketplace (rates up to 16%) or use SaveSmart, a hands-off fixed-term product paying 8–10%. Real investor data shows a median net return of around 14.9%, with zero investor losses reported to date. Since August 2026, Afranga also offers a secondary market and early withdrawals on SaveSmart. The main trade-offs are concentration in one Bulgarian lending group and a 10% withholding tax.
Launched in 2021 by the Bulgarian non-bank financial institution Stikcredit, Afranga started as a traditional P2P lending marketplace offering consumer loans. In late 2023, the platform obtained a European Crowdfunding Service Provider (ECSP) licence from the Bulgarian Financial Supervision Commission, transforming it into a regulated financial marketplace. Stikcredit itself has been operating since 2013 under supervision from the Bulgarian National Bank.
Afranga has grown well beyond its consumer-loan roots. With SaveSmart (since February 2026) and Real Estate Loans (since June 2026), it now offers more than pure consumer credit.
Key statistics (as of mid-2026)
According to Afranga’s own statistics page, the platform reports EUR 40.2 million invested and EUR 2.86 million of interest paid to 7,484 investors since launch, as at 31 July 2026. That’s significant growth from the roughly 5,000 investors noted in our June review.
- Invested by investors: €40.2 million
- Interest paid to investors: €2.86 million
- Investors: 7,484
- Portfolio performance: 100% performing, €0 non-performing, with an average portfolio size of €9,061
- Investor losses: none reported to date
- Real median return: across 186 Afranga portfolios tracked on P2P Dash, the median net return (XIRR) is 14.9%, with the middle 50% of investors earning between 13.6% and 15.8% (as of October 2, 2026)
Note that Afranga’s statistics page publishes no official average-return figure, so the median above comes from independently tracked investor portfolios.
How the platform works today
Afranga now offers two ways to invest, both starting from €10.
SaveSmart: hands-off fixed-term investing
With SaveSmart, you invest at a fixed term and rate — you don’t pick individual loans yourself. Three terms are available: 3 months at 8% per year, 6 months at 9%, or 12 months at 10%, with interest paid monthly. The investments are provided by Stikcredit as the loan originator, financing business loans detailed in a Key Investment Information Sheet (KIIS).
New in August 2026: you can withdraw up to 30% of your SaveSmart investment before maturity, up to a maximum of €5,000, for a 1% fee. If 30% comes to less than €100, you can still withdraw up to €100.
Marketplace: hand-pick individual loans
The Marketplace lets you choose individual loans and build your own portfolio. Rates reach up to 16% p.a., mostly between 9% and 14%, with terms from 3 to 36 months. Loan originators presented on the platform include Credirect, Lendivo, Lev Credit, Swiss Funds, and Tiberus, alongside Stikcredit.
Fund security and transparency
Afranga uses Lemonway, a licensed French payment institution, to hold investor money — each investor gets an individual account, keeping uninvested cash separate from Afranga’s own funds. Every loan comes with a standard KIIS detailing the borrower, terms, and risk profile.
📢 Latest Afranga news (August–October 2026)
Secondary market launched (27 August 2026). One of the most-requested features is finally here: the secondary market went live on 27 August 2026. It lets Marketplace investors sell loan parts before maturity, though a buyer is needed and SaveSmart positions can’t be sold there — SaveSmart has its own early-withdrawal rule instead.
Stikcredit guarantees all Tiberus loans (31 August 2026). Stikcredit signed a guarantee declaration for investors in Tiberus loans, effective 31 August 2026 — covering all Tiberus loan agreements, including loan parts bought on the secondary market. If Tiberus fails to pay on time, investors can claim the outstanding amount directly from Stikcredit. The guarantee is unconditional, irrevocable, and without an amount limit.
SaveSmart early withdrawals (4 August 2026). As covered above, SaveSmart investors can now access up to 30% of their investment before maturity.
SaveSmart promotions. In September, Afranga ran a cashback campaign paying a one-off bonus of 0.50%, 1.00% or 2.00% on 3, 6 and 12-month terms. Its current October campaign offers a chance to win up to €3,000, with one draw entry for every €1,000 invested in the 12-month plan.
Pros and cons
✅ The pros
- High real returns: a median net return of around 14.9% across tracked investor portfolios is among the strongest in European P2P.
- Fully regulated: the ECSP licence brings risk management, AML checks, and transparency requirements that unregulated platforms don’t have to meet.
- Zero investor fees: nothing to open an account, deposit, invest or withdraw — the only charge is 1% on SaveSmart early exits.
- Zero investor losses: to date, no investor capital has been lost, and the portfolio is reported as 100% performing.
- Fund segregation via Lemonway: your uninvested money is held separately from Afranga’s corporate accounts.
- Much better liquidity than before: a new secondary market for Marketplace loans, plus early withdrawals for SaveSmart.
- A passive option: SaveSmart provides a simple, predictable alternative for investors who don’t want to select loans manually.
⚠️ The cons
- No Auto Invest on the Marketplace: loan selection is still manual. SaveSmart is the main option for investors who want a hands-off approach.
- Liquidity isn’t guaranteed: the secondary market depends on buyer demand, and SaveSmart early withdrawals are capped at 30% (max. €5,000) with a 1% fee.
- Concentration in one business group: on the platform’s own figures, roughly 96% of investor money sits with three lenders linked to Afranga’s owner, who also sits on Stikcredit’s board. The new Tiberus guarantee helps, but ties more of the platform to Stikcredit’s balance sheet.
- Related-party lending worth monitoring: Stikcredit’s Q1 2026 related-party receivables stood at EUR 13,989k — 30% of assets and 80% of equity — a figure investors should keep an eye on.
- No buyback guarantee: loans are backed by direct claims against the borrowing companies rather than a 60-day buyback; Tiberus loans are the exception, now covered by Stikcredit’s guarantee.
- 10% withholding tax: Bulgarian withholding tax is deducted from your interest income automatically. You can often offset it against your local taxes under double taxation treaties – see our guide to P2P investment taxes in the EU.
- Limited geographic diversification: loans are concentrated in Bulgaria.
📊 Afranga at a glance (2026)
| Feature | Afranga |
|---|---|
| Founded | 2021 (owned by Stikcredit) |
| Headquarters | Bulgaria |
| Regulation | ✅ ECSP licence, Bulgarian Financial Supervision Commission |
| Invested by investors | €40.2 million (July 2026) |
| Investors | 7,484 |
| Median real return | ~14.9% (P2P Dash, Oct 2026) |
| Marketplace rates | Up to 16% (mostly 9–14%) |
| SaveSmart rates | 8% (3mo) / 9% (6mo) / 10% (12mo) |
| Minimum investment | €10 |
| Fees to investor | None (1% on SaveSmart early withdrawals) |
| Secondary market | ✅ Since 27 Aug 2026 (Marketplace loans) |
| Early exit on SaveSmart | ✅ Up to 30%, max €5,000, 1% fee |
| Auto Invest | ❌ No (SaveSmart is the passive alternative) |
| Buyback guarantee | ❌ No (Tiberus loans guaranteed by Stikcredit) |
| Fund custody | Lemonway (licensed French payment institution) |
| Withholding tax | 10% |
| Portfolio performing | 100% |
The verdict
Afranga has had a strong few months. The launch of a secondary market and SaveSmart early withdrawals address the two biggest weaknesses in our June review, and the new Stikcredit guarantee adds a protective layer for Tiberus loans. Combined with ECSP regulation, Lemonway fund segregation, zero investor losses, and real returns near 15%, Afranga is one of the most compelling higher-yield platforms in Europe right now.
The trade-off is concentration: most of the platform’s exposure ultimately rests on Stikcredit and its related companies, and the related-party figures in Stikcredit’s own reporting are worth following. That makes Afranga a strong candidate for a meaningful, but not dominant, position in a diversified P2P portfolio — alongside platforms like Mintos, Monefit SmartSaver, and PeerBerry. To see how SaveSmart stacks up against similar products, read our Monefit vs Bondora vs Afranga SaveSmart comparison.
Frequently asked questions
Afranga holds an ECSP licence, keeps investor funds segregated with Lemonway, reports a 100% performing portfolio, and has had zero investor losses to date. However, it’s not a deposit: there’s no deposit guarantee, and most exposure is concentrated in one Bulgarian lending group.
Independent tracking of real investor portfolios shows a median net return of about 14.9% (October 2026). Marketplace loans offer up to 16%, while SaveSmart pays a fixed 8–10% depending on the term.
Yes, since 27 August 2026, for Marketplace loans. Sales depend on buyer demand. SaveSmart investments can’t be sold there but offer early withdrawals of up to 30% instead.
Yes. Since August 2026, you can withdraw up to 30% of your SaveSmart investment (maximum €5,000) before maturity, for a 1% fee.
No platform-wide buyback guarantee. Since 31 August 2026, however, all Tiberus loans are guaranteed by Stikcredit, unconditionally and without an amount limit.
Yes. A 10% Bulgarian withholding tax is deducted automatically, which can often be offset under double taxation treaties.
Capital at risk. Returns are not guaranteed. This review is for informational purposes and is not investment advice.
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