Ekassa features two very simple strategies for durations ranging from 1 to 6 months. One offers guaranteed returns between 7% and 7.4%, while the second doesn’t have a guaranteed performance, but is expected to yield at least between 7% and 9% depending on the duration.
My opinion on Ekassa
Ekassa’s pros & cons
- A very simple offer
- Competitive rates for both strategies
- Slightly high early withdrawal fees
- Lack of transparency
Overview of Ekassa’s loans
There are two strategies available; the first one, named Guaranteed offers a guarantee income, while the returns for other one named Profitable aren’t guaranteed.
The duration of the investment can be 1, 3, 6 or 12 months. It’s possible to invest either in Euro or in Polish Zloty; here I’ll focus solely on Euro loans.
For the Guaranteed strategy, the returns are 7%, 7.2% and 7.4%, respectively for 1, 3 and 6 months (as of January, 2020). For the Profitable strategy, the expected ranges are 7% – 9%, 8% – 10% and 9% – 11%. In both cases, interest rates for 12 months are the same as for 6 months.
Compared to Ekassa‘s competitors, the interest rates for short-term guaranteed loans are very interesting.
While many platform disclose many details about originators, the amount of information available at Ekassa is rather low. Basically they only disclose the names of the 3 loan originators; all of them are Polish companies. However, no financial data is provided at all.
Investors choosing to invest through the Guaranteed strategy obviously don’t have to worry about buyback.
For those using the Profitable strategy, the buyback triggers 60 days after the end of the loan, and covers only the principal. As loans usually last one month, this means that investors potentially won’t get any interest on defaulted loans for 3 months. That’s why the expected returns are lower than the loans’ interest rates.
Platform’s transparency and reliability
Indeed, we already saw that little information is provided regarding the loan originators. When it comes to the team behind the platform, information is even scarcer. The platform’s profile on LinkedIn mostly lists people working on the IT department.
Finally, no statistic is available regarding the platform’s usage : we have no idea how many investors use Ekassa, or how large the issued loan volume is.
I deeply regret this lack of information regarding the platform, which incites me to reduce the platform’s overall rating.
While there’s no secondary market, it’s possible to sell your loans back to the platform; the associated fee is 1% of the amount. As usual, I advise against investing money you may need !
Manual investing at Ekassa
Although I see little need for it, it’s still possible to select loans individually. But why such a simple auto-invest process, why bother ?
Unlike more complex platforms, there’s no need to configure auto-invest. Indeed, investing using the provided strategies means the investor only has to select the strategy, investment amount and duration.
Website’s ease of use
Ekassa’s registration process
Opening an account at Ekassa is straightforward. There’s currently no KYC (Know Your Costumer) check, making the process even faster and more convenient.
Account funding and funds withdrawal
Only SEPA transfer is available. Funds are credited quickly, usually within two business days.
Website’s design and ergonomics
Overall, the website is very easy to use. One small flaw is the inability to stay connected, forcing you to type your password every time you reopen your browser. But on the other hand, there’s little need to check the website often !
Available languages & translations quality
Ekassa‘s website is available in English and German. The English translation is great, making the platform even more user-friendly.
Reporting is simple but really sufficient; there’s no real need to closely follow Ekassa‘s portfolios.
While there seems to be a lot of documentation available through links on the front page, most of it is actually poorly organized; moreover, there’s a lot of information overlap between pages.
There’s a live chat available on the front page; it’s also possible to get in touch with Ekassa by e-mail.
Communication from the platform
Ekassa may be the most quiet platform in my whole crowdlending portfolio. The only messages I received were confirmations when I invested, and at the end of the investment period. I mostly regret the lack of a notification when funds reach my account.
Actual performance of my Ekassa portfolio
At the end of April 2020, the XIRR for my Ekassa portfolio was 10,18%.
Ekassa's performance doesn't evolve in a regular manner; during most of my initial investment period, the computed returns were around 7%, well below the expected range for the Profitable strategy (9% – 11% range). However, at the end of the first investment period, the XIRR was 10.34%, an excellent result ! And even better, after re-investing for 6 more months, the performance reached 10.60%.
Don't hesitate to read my most recent crowdlending portfolio review for detailed platforms performance comparison as well as historical performance.
Portfolio creation date
I created my Ekassa portfolio in January 2019.
Ekassa's main competitors
For a detailed comparison of the different p2p-lending platforms offering a very easy way to invest, check out this article.
Ekassa's facts & figures
As of October 2019
Who can invest at Ekassa
Investing with Ekassa is open to any EU resident who is at least 18 years old with a bank account.
Please note that this review may contain affiliate links. It means that I will earn a commission if you decide to invest after clicking through the link – at no additional cost to you, of course -. Please understand that I have experienced all of these companies, and I recommend them because they are helpful and useful, not because of the commissions I make if you decide to invest through my links.