Ekassa is a new crowdlending platform based in Estonia, registered in May 2018 and that follows the path of investment platforms in one or two clicks, where simplicity and simplicity take precedence over everything else.
Let’s see how this new investment website works, what yields we can obtain and our feelings and opinions as users of the platform in this MEGA-Review that we present below
What is Ekassa.eu Statistics and Global Data
Ekassa is a marketplace of loans specialized in P2P operations (loans between individuals) in the short term that offers investors different self-managed investment packages and with a Buy-Back Guarantee in all their operations , so that investing becomes a process of a couple of clicks: choose the package and quantity and accept (very similar to the operation of another similar but more veteran platform such as Dofinance, which however does not reach the profitability that Ekasa offers today).
It is still a young web, which is becoming known and increasing its customer base, and that for functionality and performance we have decided to try and include in our portfolio as a diversification.
First Steps in Ekassa
The registration in Ekassa can not be a simpler operation, which starts with the verification of the email, the filling in of a simple questionnaire, the loading of the identification documents and ends with the realization of our first deposit. One of the simplest processes that will not take more than 5 minutes – in addition to the time of verification of our identity that is usually less than 24 business hours.
Requirements to create an investor account in Ekasa
+ Be of legal age (over 18 years).
+ Reside in a country of the European Union.
Steps to Open an Account in Ekassa Crowlending
➊ Fill in the initial registration form.
➋ Confirm our email address.
➌ Upload DNI / Passport (identity verification documents) + bank account verification documents.
➍ Wait for verification by the Ekassa legal team (24/48 working hours)
➎ Make the first contribution of funds to the bank account indicated (Ekassa works with the bank with a European PAYSERA license).
Deposits How to add funds to our Ekassa.com account
Currently, contributions can be made to our investor account by making a bank transfer to the account number provided, also entering the identification investor code indicated.
Ekassa is currently working with Paysera for deposits in euros and ING for deposits in Polish Zlotys, and according to our experience, the balance we contribute is usually processed in about 24 business hours, becoming available in our account to invest.
Ekassa Promo Code – Referral Link
Ekassa does not currently have welcome promotions for the new investor. If you register as a user you will have access to a friend program whereby your friend can get an additional 1% of his investment if he invests 1,000 euros or more while earning a reward of 10 euros.
How Ekassa Works Commissions
Ekassa is a “0,0” platform, WITHOUT commissions, as we like in TodoCrowdlending.com : it has no management, maintenance, deposit or withdrawal fees, so all the basic functions are free for investors.
How to Invest in Ekassa in 2020
In Ekassa we have two types of investment: namely Autoinvesting – in the “package of loans” mode – similar to other platforms such as Dofinance or Investment for Mintos Strategies and Manual investment in the marketplace.
In the Autoinvest variant we will be able to choose two differentiated strategies: GUARANTEED and PROFITABLE, which we will describe in detail below.
In the Manual variant we will be able to invest in loans with Buyback (Repurchase Guarantee of capital, NO of interest) from only 1 euro per transaction.
Let’s see each of the investment modalities, the parameters and their configuration below:
Manual Investment Ekassa Analysis – Most Important Parameters
Then we will discuss some of the most important parameters that define each of the operations published in Ekassa:
➊ Ekassa Marketplace
To access the Manual investment in Ekassa, we must go to the “MARKETPLACE” tab: all the operations in which we can invest manually from one euro per transaction are published.
➋ Rating (Risk)
In Ekassa, all loans published are classified from “A” (lower risk / lower return) to “G” (higher risk / higher return). Each investor must choose their desired level of risk, although the ideal will be to build a well-balanced loan portfolio with different levels of return / risk.
➌ Status (Payment Status of the Loan)
The green traffic light is an indication that the loan is active and current payment at the time of publication. There is only this accessible typology to invest in the Marketplace.
➍ Interest Rate
The interest rate in Ekassa varies from 7.8% of “A” loans to 13% per year in “G” loans. Remember that all loans are protected by Buyback, but this Guarantee in Ekassa – as in other platforms such as IUVO – only protects capital, not interests, with which the ideal, again, is to build a balanced portfolio of operations of different rating and performance.
➎ Buy Back (Repurchase Guarantee)
All the credits that are published in Ekassa have 100% Repurchase Guarantee, which means that in case of delays and defaults the corresponding Originator returns after 60 days all the capital invested in the failed loan (eye, capital NO capital + interest) .
➏ Type (Type of Loan)
Currently Ekasa is a platform specialized in short-term personal loans, which is called “Cash Loan”.There are no other types of operations to invest at other times, but an expansion of asset classes is foreseen in the medium term.
➐ Originator (Credit Originator)
Ekassa is a marketplace that brings together and publishes the credits of several financial entities and makes them available to investors to participate in them. We will analyze each of the Originators in the corresponding section of this review later, but it is always a good strategy to diversify our capital as much as possible among the available Originators – of which, remember, the Buyback depends-
Ekasa specializes in very short-term loans, being practically all operations published for a period of 30 days or less.
Once we identify the loans in which we want to invest, we will press the blue INVEST button and we will indicate the amount in euros to invest in that operation from a single euro.
➓ Shopping Cart
The loans acquired will go to our SHOPPING CART, where we will accept and finalize the investment as long as we have enough available balance.
Finally, it is worth noting that on the left hand side, on this screen we always have the option to filter the loans we want by rating, profitability, etc.
Ekassa How Autoinvest Works (Automatic Investment) – Step by Step Tutorial and Configuration
Ekassa has an Autoinvert extremely easy to configure, given that in only 4 steps we will have our money working for us following one of the two strategies that we propose. Let’s see what those steps are, and above all, what differences there are between the 2 available alternatives.
➊ Choose the Amount of Money to Invest
The first step in setting up Ekassa’s Autoinvest is to choose how much money we want to invest in this particular loan package. It should be noted that we can create as many “investment packages” as we want at the same time , with different strategies and maturities, as long as we have enough money to allocate from 10 euros per “package”.
➋ Select the Duration of our Investment
We can choose between 1, 3 or 6 months, being 6 months the configuration that offers more profitability and 1 month the least offered in both modalities, both GUARANTEED and PROFITABLE, in the simulation we can see the effect of increasing or reducing the number of months on the projected profitability of our investment.
➌ Choose the Strategy: GUARANTEED or PROFITABLE
3.1. Guaranteed / Defensive Strategy (GUARANTEED)
GUARANTEED is the defensive package in Ekassa, and has the following characteristics:
✰ Profitability is fixed and determined in advance. At the expiration of the package, we will charge interest based on the profitability indicated (7% to one month and up to 7.4% to 6 months at the time of writing this review).
✰ The package invests exclusively in loans with Buyback and reinvest capital and interest automatically until the package expires (this feature is the same as in the other available strategy: PROFITABLE).
3.2. Profitable / Offensive Strategy (PROFITABLE)
PROFITABLE is the offensive package of Ekassa and has the following characteristics:
✰ The indicated profitability is ORIENTATIVE, NOT fixed, and may be lower or higher than the indicated range. On what does the final profitability depend? neither more nor less than the number of defaults and failed loans that occur. Remember that the loans in Ekassa have a Buyback of capital, but NOT interest …
… If many loans fail we could have a return close to the lower limit (9%) or even lower, and if no loan fails, we could have a return close to the upper limit (11%) or even higher.
✰ The package invests exclusively in loans with Buyback and reinvest capital and interest automatically until the package expires (this feature is the same as in the other available strategy: GUARANTEED).
➍ Confirm the Investment
Once the strategy we want is chosen, we only have to click on the INVEST button to confirm our investment package.
Ekassa Secondary Market and Liquidity
Ekassa does NOT offer a secondary market directly accessible to the investor, but it does give us the option (for each of the loan packages that we configure in the Autoinversion mode) to carry out an “Early Exit” , that is, an early exit of the investment, paying 1% of the amount we want to recover.
This mechanism, added to the short duration of its loans in the manual Marketplace, makes Ekassa a relatively liquid platform if necessary.
Ekassa Buyback Repurchase Guarantee
Ekassa has a Rebuy Warranty similar to the one we have seen in other platforms such as IUVO: the capital is guaranteed by the Buyback, but not the interests.
In case of delays with the payment of a specific loan, the Originator of the same will repurchase the credit and will pay us the capital invested in the same after 60 days.
Origins Ekassa Crowfunding
Ekassa currently has 3 different Originators, namely: ProstyKredyt, Ekassa and PayDayLend
Polish credit institution registered in September 2016 and specialized in short-term consumer loans.
The issuing branch of Polish ekssa credits, also registered in 2016, focused on short-term personal loans.
Non-financial credit institution operating in Poland with registration since 2016.
Ekassa Crowdlending Cash Withdrawals
Ekassa allows withdrawals of money from 10 euros without any cost to the investor. In our experience these withdrawals are processed quickly and in one or two business days we will have the money back to our bank account.
Is Ekassa safe? Risks and Regulation
Ekassa.eu is a company registered in Estonia in May 2018 with the legal name: iaPlatform OÜ and is subject to Estonian and European trade laws.
As in other crowdlending marketplaces, Ekassa offers an attractive return on our savings, but – as with any investment – we must be aware of the implicit risks, let’s see some of the most relevant ones and what measures Ekasa takes to mitigate them:
Risk of Lack of Liquidity
The investment in crowlending and P2P loans is usually characterized by the lack of liquidity of the money invested until the completion and expiration of each of the operations.
Ekassa.com is not an exception, but within what is possible, it is a marketplace specialized in very short term loans (maximum of 30 days), and even their investment packages have the possibility of withdrawing the money in advance by paying 1% of the capital that we want to recover.
Risk of non-payment of loans by borrowers
One of the most common risks of peer to peer loans is that there is a default by the person taking the loan or credit.
In Ekassa OU this risk is mitigated with the Buyback Guarantee that normally covers 100% of the capital invested (check each loan in particular in its file) and that is paid by the Originator of the operation if necessary after 60 days from default
Bankruptcy risk of one of the Originators
Ekassa has at the moment only a small group of credit institutions, which, although unlikely, the bankruptcy of one of the originators could adversely affect the Repurchase Guarantees or the loans that we have with them, which could incur losses in the worst of cases.
Ekassa Web Ergonomics and Reports
Ekassa is a modern, simple and functional website … easy to navigate and with the focus on the user … It’s a pity-yes, that is not yet translated into Spanish.
If we carry out the study that we usually carry out about how many clicks are necessary to perform some of the most basic actions in the platform, we obtain the following results:
★★ 2 clicks to invest in one of the loans.
★★★ 3 clicks to see the status of one of the projects in which we have invested.
★★ 2 clicks to withdraw money.
Which is frankly fine, being clearly superior to other websites analyzed and one of the best platforms we have evaluated to date.
Ekassa Real Annual Return
✰ Ekasa presents an average gross return of approximately 10 % , depending on the package and duration selected and whether we also invest in manual loans.
✰ DOES NOT present any service fee, so you do not lose commission fees.
✰ We are NOT aware that there has been any case in which the Repurchase Guarantee did not work on any of the loans (and the interest losses – we remember that the Ekassa Buyback covers capital, NOT interest – is already included in the estimate of the starting data).
✰ The estimated annual average net profitability, therefore, is 10% base minus 0% of losses = 10% net annual for a well-diversified long-term portfolio , which is in line with the average of international crowdlending platforms.
Ekasa Taxation – Tax Retention
Ekassa does NOT practice withholdings on the interest charged on the platform. All our profits will be gross, with what we must declare and pay for our benefits in the Annual Income Tax Return (currently 19% up to 6,000 euros).
In case of doubts, consult a tax advisor.
Ekassa P2P Lending – Contact Information and Customer Service
Ekassa is based in Tallinn (Estonia) and has a dedicated customer service email ( email@example.com ), and in case of urgent inquiries, they have instant messaging on Facebook.
The Team behind the Company
The Ekassa team is composed of personnel with extensive experience in banking, risk analysis, information technology and finance. Some of the key people are:
✰ Anna Avramenko, Director
✰ Valeriy Patsui, Head of Business and Partnerships
✰ Dmytro Kushniruk, Project Manager
Is Ekassa reliable? Our Opinion
Ekassa is a young platform, but at the European level it is already starting to Add good reviews and positive comments , including a score of 4 out of 5 in the Trustpilot aggregator.
In our experience to date with this platform, we must attest to their professionalism and good work at all times with a very positive user experience so far.
Our Personal Investment Strategy in Ekassa
✰ Diversification of strategies: Although Ekassa is oriented to be an all-in-one platform, we are currently using it on all fronts: both PROFITABLE automatic investment, GUARANTEED automatic investment and Manual investment in MARKETPLACE … (50% / 25% / 25 % of our capital currently, always with the maximum terms -6 months- in the Autoinvestment packages).
If you do not want to complicate, it is not necessary to reach those extremes of diversification, given that the packages are per se a rather diversified tool. Simply choose one of them (PROFITABLE / GUARANTEED) and wait for expiration to reinvest.
Opinion Ekassa 2020 – Final Conclusion
Ekassa is a versatile and simple to use platform, which can be especially attractive for investors looking to set up their entire portfolio in a couple of clicks and sit and watch their money grow. For the most advanced users, even without being a bulwark of profitability, it offers us a good balance of performance and comfort, rivaling or surpassing Dofinance in some aspects.
Advantages of EKASSA – Strengths
➊ Quick and easy configuration of the investment in 2 clicks.
➋ Operational versatility, being able to manually invest in loans at 13% with Buyback from 1 euro per transaction.
➌ Platform with a clearly short-term focus, with maturities of almost all loans in less than one month.
➍ High liquidity with the possibility of redeeming our investment at any time paying just 1% of the requested capital.
Weaknesses and Aspects to improve
➊ It is a young platform, which should increase its portfolio of investors, available originators, etc. to settle and diversify the business in the medium term.
➋ It is not translated into Spanish.
Alternatives to Ekassa Review
Ekassa is a platform that falls within the category of short-term marketplaces, a niche in which we already have good representatives such as Viainvest and Peerberry.
In addition, due to its particular characteristics, it also fits into the category of “investments in one click”, where it shares the leading role with Dofinance.
In any case, Ekassa is an ideal platform to provide our portfolio with more depth and diversity.
Do you want to have a space to comment and share your doubts and experiences about this Estonian platform of crowdlending? … Look no further, here below we enable the Ekassa Forum so you can express yourself and ask freely … Write us your comment! 🙂