Peer-to-Peer (P2P) Lending in Greece – Top 5 Platforms 2023

If you’re a Greek investor seeking to engage in P2P lending, you’ve come to the right place. We’ve compiled a list of the best peer-to-peer lending platforms currently available in Greece for your investment needs. Here are the top picks:

Local platforms for peer-to-peer lending in Greece

At the time of writing, there are no local platforms for peer-to-peer lending in Greece. This means that Greek investors will have to look for platforms outside of Greece to invest in P2P lending. Fortunately, nearly all P2P lending platforms in Europe accept investors from Greece.

History of peer-to-peer lending in Greece

Peer-to-peer (P2P) lending started in Greece around the early 2010s, following a global trend of alternative financing models that emerged after the 2008 financial crisis. This was a time when Greek banks faced significant challenges in providing loans to individuals and small businesses, creating an opportunity for alternative financing models like P2P lending to gain traction. The rise of digital technologies and the increasing popularity of fintech solutions also contributed to the growth of P2P lending in Greece.

P2P lending platforms aimed to address the funding gap and liquidity issues faced by individuals and businesses in Greece due to the severe credit crunch caused by the country’s economic crisis. The concept of P2P lending offered a solution that facilitated the direct lending and borrowing of money between individuals or businesses without the involvement of traditional financial institutions like banks.

Greece does not have its own dedicated P2P lending platforms. Instead, Greek borrowers and lenders participate in international or European platforms. As a result, Greek P2P lending activities primarily take place through European platforms such as Mintos, Lendermarket, and PeerBerry.

Comparison with other countries

In comparison to other markets, especially neighboring countries, Greece’s P2P lending industry is still in its nascent stage. Countries like the United Kingdom and the United States have well-established P2P lending markets with numerous local platforms. In contrast, Greece has been slower to adopt this alternative financing model.

Neighboring countries like Italy and Bulgaria have also made more significant strides in developing their P2P lending industries, with several local platforms catering to their respective markets.

Best foreign platforms for P2P lending in Greece

If you are looking for the best P2P lending platforms in Greece, you should consider those that offer the lowest fees and highest returns. Some of the most popular platforms in Greece include:

  • Lendermarket: This platform provides a range of P2P lending options and is easy to use, with low fees and high-return loans.
  • Esketit: This platform focuses on short-term loans and offers investors opportunities to invest in high-potential projects.
  • Reinvest24: This crowdfunding platform offers investors access to real estate equity investments in various parts of Europe.
  • AxiaFunder: This platform is unique as it focuses on litigation crowdfunding. It’s great for Greek investors who are interested in investing in different lawsuits.
  • PeerBerry: This platform offers a wide range of P2P lending options, including personal, business, and real estate loans, with a buyback guarantee.

These platforms give investors access to low-cost loans and the potential for higher returns. Before investing, it’s important to research each platform to determine which one is the best fit for your investment goals.

FAQ about P2P lending for Greek investors:

Greece has faced a severe economic crisis and financial instability in recent years. The country’s banking system has undergone significant turmoil, leading to a lack of trust in traditional financial institutions. This environment may not be conducive to the development of new P2P lending platforms, as investors and borrowers may be hesitant to engage in such transactions.

At the same time, P2P lending is a relatively new concept in many countries, including Greece. People may not be familiar with the concept or may not trust the platforms due to the lack of established players in the Greek market.

The advantage of using foreign platforms for P2P lending in Greece is that it allows lenders to access a larger pool of potential borrowers and a wider variety of investment opportunities. Additionally, foreign platforms may offer more competitive rates and terms than domestic lenders. European P2P lending platforms can provide access to a more diverse and international investor base, which can increase the liquidity of investments and lower the risk associated with certain investments.