Between 2018 and 2022 we published several articles reviewing P2P lending and real estate crowdlending platforms. Since then, some of these platforms have collapsed, closed or come under official scrutiny. This page lists only the cases we could confirm with dated, publicly available sources, so readers of our older articles are not misled. Last verified: 12 October 2026.
Collapsed or closed
Envestio – Estonian platform. In January 2020 its website went offline (envestio.com returned a 404 error); its last reported investor payouts were on 12 January and its last public statement on 21 January, and investors were preparing legal action (Alternative Credit Investor, 28 Jan 2020). In June 2020, Estonian business registry documents showed that a bankruptcy trustee had been appointed for Envestio and its sister platform Kuetzal; Envestio had seemingly shut down while holding about €33 million of lender funds (Alternative Credit Investor, 10 Jun 2020).
Grupeer – Latvia-based platform. Investor withdrawals stopped around March 2020. According to Latvia’s financial regulator (FKTK), as reported by Latvian public broadcaster LSM, Grupeer had no Latvian licence and could serve only customers abroad. A State Police investigation was launched in 2020; at the time of that report no results or charges had been published, and the report states no court or authority finding of fraud. Estimates of the amounts owed to investors differ widely, from about €10 million (the founder’s figure) to close to €50 million (an investors’ lawyer’s estimate) (LSM, 19 Apr 2021).
Rendity – Austrian real estate crowdinvesting platform. It stopped operating in spring 2026, and investors were given until the end of May to move money out of their accounts and download their documents (test.de, 2 Oct 2026). On 14 September 2026 the Commercial Court of Vienna opened bankruptcy proceedings against its former operating company, Bojti Crowd Eins GmbH (formerly Rendity GmbH); creditors can register claims until 16 November 2026 (investmentcheck.de, 15 Sep 2026). The investments were qualified subordinated loans, so investors are lenders whose claims rank behind those of senior creditors. Rendity referred investors to the direct borrowers and to the insolvency administrator, so recovery may depend on each individual project (test.de, 2 Oct 2026).
Under official scrutiny
Iban Wallet – Investment-style platform run by a Latvian-registered company. In January 2021 Latvian authorities were checking the company: the State Police confirmed a preliminary check, and the regulator (FKTK) said the company has no permit for attracting financial investments. The report states that no one had been charged and no finding of wrongdoing had been made (LSM, 31 Jan 2021, in Latvian). We found no later official update in the sources we could check, and we do not recommend it.
Still operating, with heavy defaults in its own figures
EstateGuru – According to its public statistics page (read on 12 October 2026), €970.9 million has been funded and 80.33% (€616.0 million) has been repaid. The platform’s published default rates by year of funding are 6.47% for 2020, 8.95% for 2021, 9.13% for 2022, 27.45% for 2023, 13.45% for 2024 and 20.14% for 2025. The portfolio “recovered rate” stands at 39.02% (€74.4 million recovered in total). Source: EstateGuru statistics page; the figures change over time, so check the page for current numbers.
What this means if you invested through one of these platforms
If you have funds in any of the platforms above, check the platform’s own communications, your local financial regulator’s warnings list and the latest news for recovery updates – this page is not a substitute for that. We no longer recommend or promote any of these platforms and have removed outdated affiliate links and promotional content associated with them from our site.
A note on what is not on this page
An earlier version of this page also named other platforms. We removed every entry we could not confirm with a dated public source as of 12 October 2026. A platform’s absence from this page does not mean it is safe, and the page does not imply anything about platforms it does not mention.
This page reflects public information available as of 12 October 2026. Platform situations can change; treat it as a starting point for your own research, not a final verdict. It is for information only and is not financial advice.
