European P2P Lending Statistics 2026

This page collects the key numbers on the European P2P lending and crowdlending market in one place: official EU market data, the regulatory landscape, returns, defaults and platform failures, plus aggregate data from the 19 platforms tracked by CrowdIndex. All figures were verified in June 2026. Platform-level data comes from our own published reviews; market-level data is linked to its primary source. Journalists, researchers and analysts are welcome to cite this page (see how to cite below).

Key figures at a glance

• 254 crowdfunding service providers held an ECSP licence in the EU as of January 2026 (ESMA register).
• EUR 4+ billion was raised through 181 active ECSP-regulated platforms in 2024, across 21 EU member states (ESMA Market Report on Crowdfunding in the EU 2025).
• 58% of EU crowdfunding volume is lending-based, 23% other debt-based instruments, 12% equity (ESMA, 2025 report).
• France is the largest EU crowdfunding market at ~EUR 1.45 billion raised in 2024, ahead of the Netherlands (~EUR 1 billion) and Spain (~EUR 450 million). Five countries (France, Netherlands, Spain, Italy, Lithuania) generate over 80% of total EU volume (ESMA, 2025 report).
• 88% of EU crowdfunding investors are retail investors; the average investment ticket is around EUR 660 (EUR 2,660 for sophisticated investors) (ESMA, 2025 report).
• The 19 platforms tracked by CrowdIndex report a combined cumulative funded volume of roughly EUR 20.9 billion and more than 1.3 million registered investor accounts (platform-reported figures, June 2026; see methodology note below).
• 6 of the 19 major platforms we track operate without any EU investment licence, including one with active regulator warnings.
• At least ten European P2P platforms have failed, frozen withdrawals or attracted regulator warnings since January 2020, from the 2020 Estonian collapse cluster (Envestio, Kuetzal, Monethera, Wisefund, Grupeer) to the 2025-2026 Italian enforcement wave.

Market size: official EU numbers vs the real market

The most reliable official dataset is the annual ESMA Market Report on Crowdfunding in the EU (European Securities and Markets Authority). For 2024 it reports just over EUR 4 billion raised through 181 active ECSP-licensed providers, with lending-based projects making up 58% of volume.

An important caveat that most market-size citations miss: ESMA’s numbers cover only ECSP-regulated crowdfunding. Several of the largest European marketplace lenders operate outside the ECSP framework entirely: under MiFID II investment-firm licences (Mintos, Twino, Debitum, Indemo, Nectaro), under Swiss SRO supervision (Maclear), or with no EU licence at all (PeerBerry, Robocash, Hive5 and others). Mintos alone reports over EUR 12.4 billion in cumulative funded volume, three times ESMA’s entire annual ECSP figure. The true size of European online retail lending is therefore materially larger than the official ECSP statistics suggest.

Of the 254 platforms in the ESMA register, fewer than 30% were operating cross-border as of early 2025, so most ECSP platforms remain effectively national businesses despite holding a passportable EU licence.

The regulatory landscape in 2026

Across the 19 major platforms tracked by CrowdIndex, the regulatory split as of June 2026 is:

Three details worth citing:

• All five MiFID II platforms in our tracking are supervised by the same regulator: Latvijas Banka (the central bank of Latvia). Riga is the de facto regulatory capital of European marketplace lending.
• Only MiFID II platforms offer investor compensation (up to EUR 20,000 under EU Directive 97/9/EC). An ECSP licence imposes conduct and disclosure rules but includes no compensation scheme. Swiss SRO membership covers anti-money-laundering supervision only.
• Headquarters concentration: of the 19 tracked platforms, 6 are based in Latvia, 4 in Lithuania, 3 in Estonia, 3 in Croatia, and 1 each in Ireland, Hungary and Switzerland. 13 of 19 are headquartered in the three Baltic states.

For a plain-language explanation of what each licence does and does not protect, see our guide P2P regulation explained.

Returns: advertised vs realised

Advertised interest rates across the 19 tracked platforms range from roughly 9% to 18% per year in June 2026. The most common advertised band is 10-15%.

The number that matters more is the gap between advertised and realised returns, which platforms rarely volunteer:

• InSoil advertises ~13.1% while its own published data points to ~4.5% net realised returns after delays and recoveries.
• Reinvest24 claimed ~14.6% average returns; independent tracking of completed deals suggests ~7.4% realised, and withdrawals have been frozen since 2024.
• At the credible end of the spectrum, Maclear’s advertised 14.5-14.9% has so far matched investor-reported payouts, with a single default (0.15% of volume) covered in full.

As a rule of thumb supported by our review data: on well-run platforms realised returns typically land 1-3 percentage points below the advertised rate; on troubled platforms the gap can exceed 8 percentage points. The full analysis is in P2P lending realistic returns.

Defaults, recoveries and platform failures

Default and recovery disclosure is the least standardised metric in the industry. Documented June 2026 data points from our reviews:

• EstateGuru: 60.2% of its loan portfolio in recovery, the highest among tracked licensed platforms.
• InSoil: 18.5-24.1% of the portfolio in recovery or overdue more than 90 days.
• Capitalia: 1.18% realised capital loss with 12.9% in recovery, one of the few platforms publishing a realised-loss figure.
• InRento: 0% capital loss over five years of operation, the cleanest record among ECSP real-estate platforms we track.
• Maclear: one default of EUR 150,000 (0.15% of funded volume), repaid to investors in full.

Platform failures since 2020:

• At least ten European P2P platforms have failed, frozen withdrawals or attracted regulator warnings between January 2020 and mid-2026.
• The 2020 Estonian crash took down Envestio (~EUR 33 million from ~13,000 investors), Kuetzal, Monethera and Wisefund within weeks of each other; Grupeer and FastInvest froze withdrawals the same spring.
• The 2025-2026 Italian enforcement wave: Recrowd suspended by Banca d’Italia (July 2025), Rendimento Etico’s licence revoked by Consob (March 2026), Re-Lender in liquidation (February 2026).
• Reinvest24 has had withdrawals frozen since 2024 and warnings from three national regulators (Estonia’s EFSA, Spain’s CNMV, Norway’s Finanstilsynet).

Full case-by-case history: European P2P platforms that failed.

Investor demographics

From the ESMA 2025 market report: 88% of EU crowdfunding investors are retail (non-sophisticated) investors, 11% sophisticated. The average investment ticket is approximately EUR 660 overall and EUR 2,660 among sophisticated investors.

Across the 19 platforms CrowdIndex tracks, platform-reported registered investor accounts add up to more than 1.3 million (June 2026). This figure overstates unique individuals because active P2P investors typically hold accounts on several platforms.

Entry thresholds are low: the median minimum investment across the 19 tracked platforms is EUR 10; the highest is EUR 500 (InRento). 10 of the 19 platforms operate a functioning secondary market for early exit.

The 19 platforms tracked by CrowdIndex

Platform-reported headline figures as captured in our June 2026 reviews. Volume figures mix assets under management and cumulative funded volume depending on what each platform discloses, and should be read as lower-bound, platform-reported numbers.

Concentration is extreme: Mintos alone accounts for roughly 59% of the combined reported volume, and the top three platforms (Mintos, PeerBerry, Robocash) for about 82%. The median tracked platform has funded around EUR 117 million. The median founding year is 2017; the oldest platform is EstateGuru (2013) and four launched as recently as 2022.

How each platform earned its rank is explained in our methodology.

How to cite this page

Cite as: CrowdIndex, “European P2P Lending Statistics 2026”, crowdindex.org/statistics/, accessed [date]. You may reproduce individual statistics with attribution and a link. For the underlying per-platform data, custom data cuts or comments, contact [email protected] (see Press and Research).

This page is reviewed and updated quarterly. Figures marked as platform-reported are taken from each platform’s public disclosures at review time and are not independently audited.

Data sources

• ESMA Market Report on Crowdfunding in the EU 2025 (published December 2025): EU-wide ECSP volumes, investor demographics, country breakdown.
• ESMA register of crowdfunding service providers: licence counts.
• EU Regulation 2020/1503 (ECSPR): the ECSP framework.
• CrowdIndex platform reviews (19 platforms, June 2026): platform-reported volumes, returns, defaults, regulatory status. Each review lists its own primary sources.
• Regulator records cited for enforcement actions: Banca d’Italia, Consob, EFSA (Estonia), CNMV (Spain), Finanstilsynet (Norway).