Five P2P platforms with a full investment firm licence
Mintos, Twino, Nectaro, Indemo and Debitum are supervised by Latvia's central bank and covered by an investor compensation scheme. Here is what that gives you.
By Neven ScagnoliAuthor & EditorMost European P2P platforms operate without a financial licence. A growing group holds a crowdfunding (ECSPR) licence. And a small group goes further: they are MiFID investment firms, supervised like a broker. All five below are licensed by Latvijas Banka, the Latvian central bank, and all five are members of the Latvian investor compensation scheme.
What the licence gives you
- Segregated money. Your cash and instruments must be held separately from the platform's own assets.
- Regulated products. Notes and securities are typically issued under prospectuses approved by the regulator.
- Compensation if the platform fails. If the platform itself cannot return your money or instruments, you can claim compensation — up to €20,000 (at some platforms 90% of the loss, up to €20,000).
The five platforms
Mintos — licence 06.06.08.719/534, since August 2021. A large marketplace, with loans from many lending companies, a secondary market and published net returns back to 2015. Mintos review
Twino — licence issued 31 August 2021, now listed as 27-55/2025/7. Audited financial statements every year since 2015–2016, no fees for investing or EEA deposits and withdrawals, and fixed-term securities from €1. In August 2026 it finished repaying its frozen Russian loan book in full. Twino review
Nectaro — licence 27-55/2023/3, issued 29 March 2023. Notes issued by special-purpose companies under prospectuses approved by Latvijas Banka, 2025 accounts audited by BDO with an unqualified opinion, and no investor fees on the published price list. Nectaro review
Indemo — licence 06.06.08.824/547, granted 15 November 2022. A different product: Notes backed by Spanish mortgage debt bought at a discount, with audited accounts published for every year since 2022, no platform fees and a €10 minimum. Indemo review
Debitum — authorisation 06.06.08.728/537, since 21 September 2021. Business lending, no deposit, withdrawal or investment fees, and an operator that reported a profit for 2025, audited by BDO. Debitum review
Why it matters
The biggest structural risk on an unlicensed platform is the platform itself: what happens to your uninvested cash if the operator disappears. A licence, segregated accounts and a compensation scheme address exactly that risk. That is why regulation carries the most weight — 30% — in our safety score.
Worth knowing
The compensation scheme covers the platform failing. It does not cover borrowers, lending companies or issuers not paying, a fall in value, or not finding a buyer. A licensed platform can still carry concentrated credit risk — Twino, Nectaro and Debitum each depend heavily on one group or issuer, which each review explains. None of this is a bank deposit. Use our comparison tool to put any two side by side.
