- Business name: DoFinance
- Legal name: SIA DoFinance
- Jurisdiction: Latvia
- Type: P2P platform
- Total invested: €3.9M
- Buyback guarantee: No
- Secondary market: No
- Licensed: In progress
Dofinance, founded in 2016, is a Latvian crowdfunding firm with experience in consumer loans. The crowdfunding service has gained over 2000+ registered investors and has issued over 90’000’000 in loans. Such figures and statistics are impressive, yet in addition to historical information are above-market annual returns. To this date, Dofinance accepts investors with a bank account in the EU, Switzerland, or any other EEZ country with a valid residence permit or a passport of a country in the EEA.
Board & Team
At Dofinance, there are only two board members, Janis Kulikovskis and Viesturs Kulikovskis. Both have backgrounds in Business Administration within investment projects. Dofinance is operated by Alfa Finance Group, which manages Indonesian loan originators Kredit Cepat, Polish Opoqa, and Tanikredyt.
The platform does not publish its annual reports and historical loan books. There are only limited statistical numbers available on their web page. However, the platform’s latest annual report can be found on the official resources. Looking at the financial figures of DoFinance in 2020, it can be said that the platform had good liquidity, meaning it had enough short-term assets to cover its short-term obligations in 2020. The platform is equity financed, and its return on assets is slightly above 1.
Platform’s Score and Uniqueness
Specific uniqueness comes from all consumer loans originating from Indonesia with a great bonus of only €10 as a minimum investment. Historically, Dofinance has offered higher than market average annual returns of up to 13%. Furthermore, a bonus to any investor is the auto-invest to manage investments automatically, and there are no fees for any of the Dofinance services. Yet, a con lacks a secondary market, but Dofinance offers a 100% buyback guarantee as an additional option.
From a general perspective, Dofinance offers higher than markets’ average annual returns, up to 13% to be precise. However, there are further drawbacks to Dofinance, such as the current lack of secondary market presence. On the other hand, DoFinance is in the progress of secondary market creation for Investors, leading to a much more favorable and advanced service for investors. To conclude, one factor that investors should take into perspective is the factor of all consumer loans for currently available projects are located in Indonesia, offering different auto-invest annual returns (from 10% to 13%) based on a diverse variety of investment terms (from 4 to 84 months).