Lenndy Review

First of all I would like everyone to know that this is an 100% impartial and unbiased review of Lenndy.

What is Lenndy?

Founded in September 2016 in Lithuania and later moved to Latvia, Lenndy is a peer-to-peer lending marketplace where investors can invest in pre-funded loans and receive interest. Loans at Lenndy are sold by loan originators that are issuing both business or personal loans. Up until recently, you could only deposit funds to the platform through PaySera but recently they introduced SEPA transfers as well. This is definitely a move in the right direction. The minimum investment is €10 and loans are only listed in EUR.

Lenndy Review 2020


Lenndy offers rates around 12% with and can go as high as 13% without buyback guarantee. You can also get 1% cashback from each investment made during the first 3 months after registration using this link.

Lenndy Loans

Loan liquidity

Lenndy has decent liquidity to invest a moderate amount including some quite large Mortgage loans.

Buyback Guarantee

In case the borrower delays the current payment for the loan for a period exceeding 60 calendar days, the loan originator that issued this loans is obliged to immediately buy back your share in the loan in the amount of outstanding principal of the claim plus any interest accrued for the period you held the loan. Please note that the Buyback guarantee is valid for loans with buyback icon as shown below.


Lenndy offers the possibility of auto-investing and its pretty simple to set up. You can check Lenndys’ auto-invest page to see the ways you can configure the settings.

Lenndy Autoinvest


Since most of the loans on Lenndy come with Buyback Guarantee the risk is whether the loan originator will be able to fulfill their promise to you. For loans without Buyback Guarantee, there is the risk of default. For more information about the risks from peer-to-peer lending activities please the “What Is Peer-to-Peer Lending” article.

Secondary Market

There is no Secondary Market on Lenndy, however, there is a feature that enables investors to sell their investments. On the right side of every current loan in your portfolio, there is a “Sell” button that allows investors to sell their investments for 5% fixed fee. For example, if the outstanding amount of the loan you are selling is 100 EUR, then your fee will be 5 EUR.


Lenndy charges no fees for investing in their platform, however, there is a 5% penalty if you wish to sell the loan back to Lenndy before maturity.


There are different kind of loans offered on the platform. At Lenndy you can find the following types:

  • Mortgage loans
  • Business loans
  • Secured car loans
  • Invoice financing and
  • Personal loans

I also like the information that Lenndy provides for the  collateral. For example, they provide pictures of the car that is posted as collateral. I know this doesn’t mean much but you can see if the valuation is realistic

Lenndy Collateral

Lenndy Sign Up Process

The sign up process is pretty simple. You can click here and go through the steps as they are on the screenshots below. The info requested are very limited and you don’t need to upload any identification documents. The entire process is pretty simple and it shouldn’t take you more than 5 minutes.

Lenndys’ Competitors

Lenndys’ main competitors are Mintos, Grupeer, PeerBerry, ViaInvest, Viventor, FastInvest, Robo.cash, Iuvo and DoFinance.

Lenndy Review – Conclusion

With the recent addition of SEPA transfers as a funding method, Lenndy offers a decent investing alternative that you can add to your peer-to-peer lending portfolio. To be honest, I would still pick Mintos over Lenndy any day but it does offer decent rates and its worth the investment in the name of diversification,

Lenndy Bonus Offer :

When you register with my link and invest 100 EUR or more (not necessarily into one loan) – you a 10 EUR bonus. The money will be sent to you immediately after the investment is done.

If you would like to add something about Lenndy or share your personal experience please leave your comments below.

Until Next Time,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: