Afranga and Mintos represent two different philosophies of P2P investing. Mintos is the sprawling, EUR 12 billion marketplace built on breadth. Afranga is the focused Bulgarian platform built on higher yield and a clean default record. One spreads your risk as widely as possible; the other concentrates it for a better headline return.
The short version: Mintos wins on diversification, liquidity, regulation maturity, and features. Afranga wins on returns and its zero-default track record. Mintos is the core holding; Afranga is a higher-yield secondary allocation that works best alongside it, not instead of it.
Quick Comparison: Afranga vs Mintos
| Feature | Afranga | Mintos |
|---|---|---|
| Country | Bulgaria | Latvia |
| Regulation | ECSP licensed | MiFID II licensed (pursuing banking license) |
| Avg. Returns | ~13.9% | ~12% advertised |
| Buyback Guarantee | Yes | Yes (60 days) |
| Secondary Market | Limited | Yes (0.85% fee) |
| Auto-Invest | No | Yes (Custom + Core Loans) |
| Min. Investment | Low | EUR 10 |
| Total Funded | Smaller, growing | EUR 12 billion+ |
| Loan Originators | 6 (Stikcredit-heavy) | 60+ |
| Countries | 2 | 33+ |
| Additional Assets | Loans only | Bonds, ETFs, Real Estate |
| Withholding Tax | 10% (Bulgaria) | None at source |
Returns and Performance
Afranga has the higher headline return, consistently above 13% and around 13.9%, against Mintos’s advertised ~12%. My own realized net on Mintos over nine years has been closer to 9% after originator defaults and the 2022 Russian collapse, so on raw yield Afranga is comfortably ahead.
Two things temper that. First, Afranga’s 10% Bulgarian withholding tax at source reduces your net return unless you can fully credit it at home, which not every investor can. Second, Afranga’s returns come from a small, concentrated loan book with a short history, while Mintos’s lower number reflects a decade of real-world stress, including crises that Afranga simply hasn’t faced yet. Higher yield, less proof.
Regulation and Safety
Both are regulated, under different frameworks. Afranga holds an ECSP license, the EU’s crowdfunding regulation, with segregated client funds through Lemonway and an individual IBAN per investor. Mintos is MiFID II licensed, carries the EUR 20,000 investor compensation scheme, and announced in February 2026 that it’s pursuing a full banking license in Latvia.
On the platform-failure scenario, Mintos’s MiFID II framework and compensation scheme give it the stronger backstop. Afranga’s ECSP license and segregated funds are credible, and its compliance setup is well regarded for its size, but it doesn’t carry an equivalent investor compensation scheme. Mintos is the more institutionally protected of the two.
Diversification
This is Mintos’s defining advantage. More than 60 loan originators across 33+ countries, spanning consumer, business, car, mortgage, agricultural, and BNPL loans, plus bonds, ETFs, and real estate. No European P2P platform comes close to that breadth.
Afranga has six originators in two countries and leans heavily on Stikcredit and the Bulgarian market. It has grown from a single-originator platform into a small marketplace, which is progress, but its loan book is still a concentrated bet on one lender and one country. If diversification is your priority, this isn’t a contest. Mintos is built for exactly that, and Afranga isn’t.
Features, Liquidity, and Fees
Mintos is the more capable platform. It offers auto-invest in two flavors (a hands-off Core Loans option and a granular Custom Strategy builder), a secondary market for early exits, and multi-asset investing. Afranga has no auto-invest at all, which means manual loan selection and reinvestment, and only a limited secondary market.
The trade-off is fees. Mintos charges 0.29% annually on Custom Portfolios and 0.85% on secondary market sales. Afranga charges no platform fees, though the 10% Bulgarian withholding tax is the bigger drag on net return. So Afranga is cheaper at the platform level but more expensive at the tax level, and far less convenient to run.
Who Should Choose Which?
Choose Afranga if you:
- Want the higher headline return (~13.9%) and a zero-default record
- Can fully credit the 10% Bulgarian withholding tax at home
- Don’t mind selecting and reinvesting loans manually
- Want a small, focused ECSP-regulated allocation
Choose Mintos if you:
- Want maximum diversification across originators, countries, and asset types
- Value a long, crisis-tested track record and MiFID II protection
- Need liquidity through a secondary market
- Prefer hands-off auto-invest and the option of bonds, ETFs, and real estate
Use both if: You want Mintos as a diversified, liquid core and Afranga as a higher-yield satellite. Afranga lifts your blended return; Mintos keeps the bulk of your capital spread widely and easy to exit.
Verdict
For one platform, it’s Mintos. The diversification, liquidity, regulatory maturity, and multi-asset options make it the more complete and resilient choice, and it’s where I keep the larger part of my P2P portfolio.
Afranga earns a smaller, deliberate allocation. The above-13% returns and the clean default record are genuinely attractive, and the ECSP regulation puts it ahead of unregulated rivals. But the concentration on Stikcredit, the lack of auto-invest, and the withholding tax mean it works best as a secondary holding rather than a core one. Used that way, alongside Mintos, it’s a solid addition.
For more, read my Afranga Review and Mintos Review.
Frequently Asked Questions
Which has higher returns, Afranga or Mintos?
Afranga, on headline yield, around 13.9% versus Mintos’s advertised ~12% (and my realized ~9% net over nine years). But Afranga’s 10% Bulgarian withholding tax can reduce your net return if you can’t fully credit it at home.
Is Afranga as diversified as Mintos?
No. Mintos has 60+ loan originators across 33+ countries plus bonds, ETFs, and real estate. Afranga has six originators in two countries and relies heavily on Stikcredit. Mintos is far more diversified.
Does Afranga have auto-invest like Mintos?
No. Afranga requires manual loan selection and reinvestment. Mintos offers auto-invest in two forms: a hands-off Core Loans option and a customizable Custom Strategy builder.
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