Loanch Review 2024
- Written by
- Just P2P
- •
- Updated December 30, 2024



Loanch is a Hungarian peer-to-peer (P2P) lending platform where individuals invest their money with lending companies in Asia to finance personal credit loans. In return of these short term investments, investors receive scheduled interest payments by those loan originators.
The platform is rather recent in the P2P landscape but the Asian loan originators have quite some experience in the lending industry. Nevertheless, the latter have recently been acquired by a controversial Singaporean holding group called Fingular, created in 2021.
Let’s perform a factual review of Loanch.
Table des matières
What is Loanch ?
Loanch is a peer-to-peer lending platform operating from Hungary that connects European investors with Asian loan originators providing personal loans to local individuals. Starting from 10€, investors lend their capital to these borrowers who use that money for a variety of purposes : consumer credit, home improvement, emergency expenses.
The company RiseTech Kft.
As a limited liability company, RiseTech Kft. was created in December 2022 but the P2P platform started its activity in January 2024. Their headquarters are located in Budapest, Hungary under the European Unique Identifier HUOCCSZ.01-09-409513. The year 2023 was mainly devoted to IT activities, in order to build their P2P platform under the brand Loanch.
The platform Loanch was created in 2022 by an experienced P2P investor who decided to target Asian developing markets which offer more potential in the long run. The idea was to connect investors from EU developed countries where growth stagnates to these emerging P2P markets.
Loanch sole shareholder
Loanch was founded by Nik Sinickis, a Latvian engineer used to invest in P2P lending before starting his own platform in 2022. Although Nik obtained a Master in Civil Engineering at the University College London in 2015, he was also interested in economics as he also graduated in Business Finance in 2010.
Nik Sinickis spent most of his career in London, first as Assistant Asset Manager for Network Rail, owner and infrastructure manager of most of the railway network in Great Britain, then as Structural Design Engineer for Arcadis, before returning to work for Network Rail as a Project Engineer.
As indicated in the RiseTech company presentation, Nik Sinickis is the sole shareholder of the Loanch P2P lending platform. But as mentioned on their blog, it is planned that Loanch will join Fingular ecosystem, Singaporean mother company of the loan originators listed on the platform.
The legal name of this holding is FINGULAR PTE. LTD. (UEN 202135807C), created in October 2021 under the former name CHILI MANAGEMENT PTE. LTD. This company is co-owned by Maxim Chernushchenko, a Fintech entrepreneur who founded Cashwagon on Mintos, and Vladimir Gurinov, founder of JSC Cordiant and Service-Telecom.
On their website, Fingular simply mentions that Loanch is among their partners but does not confirm yet that they invested in Loanch capital shares.
Fingular currently employs around 100 people dedicated to developing the company’s credit business in Asia. The company is managed by one of the founder, Maxim Chernushchenko as CEO, assisted by a management team oriented on debt collection, risk management and data analysis.
Management team
Nik Sinickis, is also the CEO of Loanch and work with Finriser, a Czech IT company specialized in SaaS solutions for crowdfunding platforms. Her relies on two Indonesian firms : Karna Partnership for legal questions related to digital economy and Orzora Partnership for tax-related topics.
He contracted with Antons Lukjanenko, a human resources specialist, to manage investors support. Located in Latvia, Antons is working remotely, as he is also contractor for Tietoevry, a Finnish technology group providing IT services in various sectors like cloud, data, and software.
Loanch also contracted with Arta Anaite, AML/CTF Compliance Officer, with several years of experience acquired since 2014 successively with Western Union, Paypal and Adyen. Certified Anti-Money Laundering Specialist (CAMS), Arta is also Know Your Customer (KYC) / Customer Due Diligence (CDD) expert.

Antons Lukjanenko

Arta Anaite
Loanch statistics in 2024
Here are some statistics for the current year:
- Total funds invested : 6,77 M€
- Total interests paid to investors : – K€
- Average annual return : – %
- Number of investors : 1,868
The activity on the platform really started in 2024 with funding volumes oscillating between 200K€ and 962K€, with an average monthly funding volume of 410K€ on the first 6 months this year.
Although only recently launched and with little media coverage, the platform has already raised a few of millions of euros in funding. But let’s see where they will stand after 1 year of activity with their attractive interest rates at 13.50% just behind a high-return P2P platform like Swaper.
How does Loanch work ?
Loanch is a peer-to-peer (P2P) lending platform where Asian companies, from Malaysia and Indonesia, also called “loan originators” offer to invest on their side in lending activities. Investors, either individuals or companies, invest some capital under predefined conditions and in return receive interests as instalment payments at a certain rate.
Loanch is a P2P marketplace
The loan originators provide loans to borrowers in the country where they operate and receive in return interest payments. Therefore, as their business model depends on the capital they can leverage to generate profit, they search for additional funding to invest in loans and grow on the lending market.
These loan originators list their investment opportunities on Loanch marketplace, which in return ask for a fee. The P2P platform plays the role of intermediary with the potential investors, and ensure that all financial and legal conditions are transparent and duly respected by both parties (Like PeerBerry).
The Investors select the loans that fit their investment strategy according to their own criteria in terms of amount, term, and rate among others. Then, they receive payments of interests from the loan originators every month that they can withdraw or reinvest, and as such they can grow their capital.
Chronology of Loanch investments
On Loanch, the minimum amount from which investors can start investing in consumer loans is of 10€ for periods with durations ranging from 1 to 3 months. Interest rates offered start from 13.50%, and interest payments are transferred to investors on a monthly basis.
For 30-day loans, principal and interests are paid all together when the loan reaches its maturity. Over this term, investors receive monthly instalments corresponding to interest payments while the principal is repaid on completion of the term as indicated in the loan spreadsheet.
Although investments are on a short-term basis, they also can be extended by the loan originator as indicated in the User Agreement. For investors who wish to terminate their investments before its term, they don’t have yet the possibility to sell them on the secondary market.
Investing on Loanch
Who can invest on Loanch ?
To register on Loanch, individuals need to be at least 18 years old and they can be tax resident from any country as the platform is not limited to European citizens. But your bank account needs to be established in European Union or European Economic Area (EEA) and of course be opened in your own name.
It seems not possible to invest through a company, whatever its location, which is surprising considering this is a possibility offered by most P2P & P2B platforms in Europe.
Although being a recent platform, Loanch has decided to target the biggest European markets with an interface available in English, German, Spanish, French, Portugese, Ducth, Russian and Ukrainian languages. You may notice that Germany and Spanish investors are the most present on popular platforms like Esketit or Debitum Investments.
What do we invest in ?
With Loanch P2P platform, individuals invest their money alongside lending companies in personal loans taken out by individuals from Malaysia and Indonesia. Loan products provided are mostly short-term consumer credits, home improvement loans, and funds for unexpected expenses.
Through the platform, investors purchase a claim right arising from a loan agreement and receive interest in accordance with the terms and conditions of the Assignment Agreement associated to the loan.
Loan originators are the two following companies: Tambadana from Malaysia (founded in 2017) and Ammana from Indonesia (founded in 2019). It is also planned to list loans offered by Ceyloan, a lending company located in Sri Lanka, but no more information is available at that time. They are all part of the Singaporean company Fingular.
How to invest on Loanch ?
The P2P platform Loanch offers the possibility to invest either manually in each loan or to use an auto-investment strategy to automate the investment process. Considering the loans are very similar in terms of characteristics, there is no real added value in selecting them one by one when investing.
In both cases, investors need to select the loan originator they want to invest with, as well as the loan duration, the interest rate, the minimum and maximum amount, and the loan type (short-term or installment loan).
Loanch does not provide information or scoring on the borrowers behind the loans listed on their platform, but like most P2P platforms (Ex. Lendermarket). Finally, the platform does not provide any secondary market to buy or sell investments (this is something foreseen but still not implemented).
Is it safe to invest on Loanch ?
Pros to investing on Loanch
Loanch is positioned on growing markets
In the P2P lending landscape, Asia looks like the Eldorado for many platforms, but to operate in this region is not so easy as one may think. Indeed, Twino and Viainvest had to suspend the lending operations of their joint venture in Vietnam and the Philippines in April 2024 because of the local legislation.
Nevertheless, Loanch is positioned in two countries with fast growing economies according to the Worldbank : Indonesia and Malaysia. And even though gross domestic product in Sri Lanka is decreasing, this does not prevent platforms like Peerberry to successfully offer loans from that country regularly.
If we look at the most promising market, Indonesia, one may notice their fast-growing peer-to-peer lending industry. Additionally, as noted by the Fitch Agency, the recent regulation by the Financial Services Authority’s (Circular Letter No. 19 of 2023) introducing risk management procedures is creating greater incentives for sectoral consolidation.
Above-market returns
To differentiate itself from competitors, the platform offers above-market returns (over 13%) without being outrageously high. This is a positive sign that the company is seeking to find a balance between a sustainable business model and attractive returns for investors.
Although Loanch is quite recent, loan originators have been operating in their respective countries for several years. This means that they have carefully evaluated the returns that may be offered before offering them on the platform.
For investors who may be careful with platforms quite aggressive in their offerings with high rates like Hive5, it is quite reassuring to see this level of returns. It appears as a compromise that both protect the economic interests of the lending companies and offer interesting returns to investors.
30-day Buyback obligation
The two loan originators systematically include a buyback obligation to each loan investment listed. This means that in case of delayed payment, the loan originator has the obligation to buy back the loan, repaying the principal, and all the associated interests including for the period of delay.
A buyback obligation is always appealing as it guarantees the revenue generated by our investments, but investors need to remind that this guarantee is as strong as the loan originator.
The details of this buyback obligation are duly specified in the assignment agreement associated to each loan investment. A specific characteristic is that the obligation kicks in after only 30 days, exactly like Robocash, when most platforms activate the guarantee only after 60 days.
Cons to investing on Loanch
Loanch is not regulated
Although being located in Europe, Loanch is not regulated considering that Hungarian government does not impose a specific regulation on P2P lending platforms. As a consequence, investors can be reluctant to invest through a company that does not need to refer to a regulatory authority to manage their business activities.
This being said, among the leaders, several P2P platforms, like Robocash and Peerberry, are not regulated but they benefit from their long experience and solid trust from investors.
More importantly, investors should focus on the other criteria to decide where to invest. Indeed, a regulated platform like Mintos, although being duly regulated, has a very long track record of default payments on a large number of loan originators, showing a complete lack of due diligence.
Fingular cumbersome track record 
Before founding Fingular, Maxim Chernuschenko, was CEO of Cashwagon PTE. LTD. Between 2017 and 2020, a Singaporean holding specialized in retail credit business in Asia. Yet, Cashwagon is known by investors on Mintos as some of their subsidiaries were listed as loan originators.
But the 3 loan originators under Cashwagon brand, Green Money Tree Lending Corp. (Philippines), PEERMAN PTE. LTD. (Indonesia), and Lendtech Co., Ltd. (Vietnam) all defaulted during the Covid-19 pandemic in 2020 with a total amount at risk of 6,94 M€.
Some P2P investors point the responsibility of Cashwagon CEO while others claim that the shutdown by local authorities in Vietnam could not be avoided. Maybe both are right : the situation in one country (Vietnam) cannot explain defaults in other countries, especially in Indonesia where Fingular operates.
Loan originators not (yet) profitable
The financial situation of the actual two loan originators is not at their best considering they both had losses in their last known financial report : -1,5 M RM for Tambadana in 2023 and -2,3 M$ for Ammana in 2022. Loanch CEO committed to provide 2023 report for Ammana soon.
Noticeably, the platform explains that they do not have financial reports of loan originators before 2022. This is quite surprising to have no real track record considering that they have a financial partnership and that the loan originators have been operating for several years.
In the case of Tambadana (Malaysia), Fingular Group acquired their licence in 2023 to transition to an online activity focusing on innovation. In August 2024, they claim positive operational results as published online : Fingular announced they turned their first profit in Malaysia in just 9 months after take over.
Lack of a group guarantee
Loan originators listed, as well as expected ones, are all part of the same group under the holding Fingular PTE. LTD, meaning that all their subsidiaries are under the same umbrella. If their management want to re-build trust, adding a legally binding group guarantee would be a positive sign.
All controversies around such a group guarantee offered by Peerberry disappeared the day Aventus group started to reimburse loans affected by war under management of Ukrainian and Russian loan originators.
Although this is not a magical solution, offering a group guarantee for Fingular loan originators would make sense. Actually, there is a small sign of it in their FAQ but still not clear: “Buyback obligation and additional Group guarantee may be affected in case of a force majeure event“.
Opinion on Loanch
Loanch offers much higher interest rates to investors compared to their competitors in the P2P landscape. They operate in Asian countries with economies developing at fast pace where online solutions for personal micro-lending are growing rapidly, especially thanks to smartphones.
Like for most platforms, investors are covered by a buyback guarantee which is shorter (30 days) than their P2P competitors, making investments much more liquid with a maximum period of 30+30=60 days pour the shortest loans.
Nevertheless, both the platform and the lending group Fingular remain quite young at that date. More experienced, the Asian loan originators are nonetheless in a delicate financial situation that needs to be seriously consolidated, which Fingular committed to do as holding company.
Moreover, despite Fingular’s presence in India and Sri Lanka, investors only have access to loans from Indonesia and Malaysia on the platform (Sri Lanka was announced several months ago). As a result, the level of geographic diversification remains unsatisfactory for the moment.
Loanch should accelerate the onboarding of more lending companies from the Fingular group and offer investors a group guarantee. But the platform should also seriously consider including loan originators with no connection to Fingular, in order to diversify and boost investor trust.
Indeed, the Founder & CEO of Fingular cannot distance himself from his past as Founder & CEO of Cashwagon (listed on Mintos until 2020). For investors, this is clearly a negative signal, all the more so as communication on this subject is non-existent on Mintos and the recovery of funds is at a standstill.
In addition, the CEO announced that a plan for Fingular to take control of Loanch was already in place well before its launch in 2022, without investors having been informed: “if key performance and operational milestones were met, Fingular would take an equity stake in Loanch“.
In fact, as early as May 2022, Fingular patented the Loanch trademark as part of these plans, while RiseTech (the business entity of Loanch) was established only in December 2022.
In a P2P market requiring trust and stability, Loanch has yet to demonstrate both. Mid-2023, they even had discussions to abandon the project after a review of the platform’s performance judged unsatisfactory. There’s still a long way to go to build a solid, sustainable platform.
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Article sources
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