Afranga
Bulgarian consumer loans originated by Stik Credit.
Crowdscope score
Volume
31 M€
Investors
6k
2nd market
No
Auto-invest
Yes
Avg. duration
12 months
Default rate
0%
Score breakdown
Each criterion rated from 0 to 10 then weighted.
About Afranga
Overview of the platform, its framework and risk profile.
Launched in 2021, Afranga is a peer-to-peer lending (P2P Lending) platform that finances consumer loans from the Bulgarian group StikCredit. Unlike large multi-issuer marketplaces, Afranga operates in a closed circuit: it is the sole gateway for investors seeking exposure to the profitability of StikCredit, a niche player established since 2013.
⚖️ The Investment Framework
Afranga's model is based on a minimalist approach and vertical integration:
- StikCredit Exclusivity: the platform is a direct emanation of the loan issuer. This guarantees direct communication on asset performance, but inextricably links the fate of your investments to the financial health of a single entity.
- "Passive" Liquidity: it is crucial to note that there is no secondary market on Afranga. Once your capital is committed to a loan, you cannot withdraw it before maturity.
🚩 Risk Profile: Specialized and Concentrated
Afranga's risk profile is marked by the very structure of its monobank model:
- Group Risk (Single Issuer): this is the predominant risk. By investing here, you are not diversified. If StikCredit encounters a major difficulty, the platform and its buyback guarantee are simultaneously impacted. This is an investment that requires regular monitoring of the group's financial reports.
- Buyback Guarantee: Afranga applies an automatic buyback guarantee after 60 days of delay. This security relies entirely on StikCredit's cash flow. In the event of a systemic crisis in Bulgaria, this guarantee could be severely tested.
- Lack of Immediate Liquidity: the absence of a secondary market means that your money is "locked" for the duration of the loan. Although durations are short, this lack of an exit option must be anticipated in the management of your personal cash flow.
Current Climate & Sentiment
Our reading of the community climate and trust surrounding the platform.
The climate within the Afranga community at the beginning of 2026 is marked by a structural transition. The atmosphere, once centered on simple loan automation, has transformed into discussions around each new feature dissected with surgical precision.
The advent of "SaveSmart": a strategic turning point
The topic dominating all discussions is the launch of SaveSmart, a new product offering fixed returns (around 12%) over 12 months. While the community welcomes this alternative, it raises fundamental questions about the nature of these loans. Is it a loan to the platform or to the issuer StikCredit? The answer is clear for regulars: the risk remains tied to the issuer. However, the absence of a secondary market for this specific product crystallizes debates on flexibility. Some investors see it as a tool to "not miss the boat" of high returns, while others worry about capital immobilization in a market where immediate liquidity is becoming a scarce commodity.
The pursuit of transparency: the NPL debate
The atmosphere escalated around the issue of NPLs (non-performing loans). The most experienced investors are pushing Afranga's management to their limits, demanding clarification on default rate calculation methods. The fact that the management team needed several days to respond to these questions created a grey area, oscillating between respect for the complexity of the subject and a hint of defiance. The community's message is clear: "a 10% default rate on high-risk credit is a complex equation that deserves a transparent mathematical formula."
Growth bugs and daily life
Beyond high-level strategies, investors' daily lives are dotted with minor technical glitches that test their patience:
- The "Bonus Bug": a recent malfunction displayed bonuses as "ready for payment" prematurely, forcing the team to intervene to reassure about the continuity of referral campaigns.
- Flow slowness: recurrent criticisms target the payment provider (Lemonway), deemed slower than market standards, frustrating those who wish to see their money working "in minutes."
- Security and 2FA: occasional problems receiving SMS for two-factor authentication push members to strongly recommend using authenticator apps, considered more reliable.
Crowdscope editorial analysis · August 2026. Synthesis of observed community discussions, non-sponsored.
Guarantees
- Buyback
Conditions
- Minimum ticket
- 10 €
- Indicative yield
- 10%
- Average duration
- 12 months
- Status
- Non régulé ECSP
Warning
Investing carries a risk of partial or total capital loss. Displayed yields are indicative and not guaranteed.
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Afranga — frequently asked questions
Is Afranga a safe crowdlending platform?
Afranga scores 50/100 in the Crowdscope framework. It operates from Bulgaria since 2021, under the Non régulé ECSP status, with a reported default rate of 0%. Loans are backed by: Buyback. No crowdlending platform is risk-free: capital is at risk and past performance does not predict future returns.
What return can you expect on Afranga?
The indicative yield advertised on Afranga is around 10% per year, before defaults, recovery delays and cash drag. The net return observed by investors is usually lower.
Does Afranga have a secondary market?
No, Afranga does not offer a secondary market. Investments must be held until the loan matures or is repaid early.
What is the minimum investment on Afranga?
The minimum investment per loan on Afranga is 10 EUR, with an average duration of 12 months.
Is Afranga regulated?
Afranga operates under the Non régulé ECSP regime. ECSP means the platform holds the European Crowdfunding Service Provider licence supervised by a national regulator; other statuses indicate a national regime or the absence of a dedicated crowdfunding licence.
Last updated: · Reviewed by the Crowdscope editorial team