- Business name: Credon
- Legal name: Credon P2P d.o.o.
- Jurisdiction: Croatia
- Type: P2P platform
- Total invested: Unknown
- Buyback guarantee: Yes
- Secondary market: No
- Licensed: No
Credon is a Peer to Peer marketplace founded in 2021. It is not sure in which country the platform operates, as there is different information indicated in the platforms web page and user agreement. So far Credon has connected to 3 loan originators from Poland that mostly offer investments in payday loans. Promised interest rate varies around 13% annually although the platform has not published any statistics concerning mean interest rates or other metrics.
Board & Team
Credon does not disclose any information about a team behind the project but according to SIA Credon that is registered in Latvia it is managed by Rupšys Juozas who side to side with Volodymyr Utenko is considered to be the UBO of the company. On LinkedIn profile Rupšys Juozas hasn't indicated any activity in Credon platform.
The platform does not share its annual reports, statistics and historical loan books on their web page although annual reports of SIA Credon are available publicly. These reports indicate that the platform has relatively good liquidity, additionally the company does not heavily depend on debt but on the previous financial year it has suffered losses.
Platform’s Score and Uniqueness
Credon has a minimum investment amount of 20 euros. Autoinvest option is offered while the platform still lacks a secondary market. Loans offered on the platform are secured by buyback guarantee. Credon has introduced evaluation of offered loans, although unfortunately details of this evaluation are not disclosed.
Overall, unavailability of information provided about their financials, statistics, team, owners, loan originators indicates that Credon lacks transparency. The platform is not licensed and most likely is still developing. Of course, there are positive aspects as well: all loans are secured by buyback guarantee, skin in the game of the listed loans are above market average and most of the loan originators offer a group guarantee.