Lande Review

Lande is a Latvian crowdfunding platform through which you finance loans directly to farmers in Latvia, Lithuania, Romania and Poland - secured by farmland, machinery or the harvest itself. p2p-investments.de rates Lande B (7.7/10) on good data. The conservative collateralisation (43% average LTV), the ECSP licence and audited annual accounts are genuine strengths. In return there is no buyback, a noticeable share of the portfolio runs behind schedule, and enforcing collateral takes years in the worst case. How we arrive at this grade is explained in our rating methodology.

What is Lande and who is the platform for?

Lande (known as LendSecured until 2022) has been financing small and medium-sized farms since 2020 - businesses that need fast capital for machinery, seed or land purchases, demand that banks often take months to serve. You invest from €50 per project at rates of currently 13–14% (platform average: 11.2%), and with most repayment schedules the interest flows monthly. Since launch, around €61.4M has been funded across more than 2,200 projects, with over 10,900 registered investors.

That suits investors looking for a genuinely asset-backed building block as a portfolio addition who can tolerate delays - agricultural cash flows are seasonal, and without a buyback guarantee the collateral is all that counts in a default. If you expect guaranteed punctual payments or a quick exit from every position, this is not the place.

How does Lande work?

Unlike marketplaces such as Mintos, Lande does not work with third-party loan originators: the platform vets and issues the loans itself and, by its own account, lets less than 5% of applications through its checks. As an investor you conclude a direct loan agreement with the farmer - your claim is against the borrower, not the platform. The collateral (mortgages, machinery pledges) is held for investors by a dedicated trustee company in each country, and your money sits in segregated payment accounts at the regulated French payment institution Lemonway - both protect you if the platform itself runs into trouble. Since 7 February 2024, SIA LANDE Platform has been licensed by Latvijas Banka as an ECSP crowdfunding service provider.

You invest manually or via a two-tier auto-invest: Basic (from €50, invests in every new project) and Advanced (from €100, with filters for interest rate, LTV, term, collateral type, repayment schedule and country). A fee-free secondary market exists - but only for loans that are being repaid on time; more on that below.

What Lande genuinely does differently: there is deliberately no buyback guarantee. The platform argues that a buyback merely papers over the real default rate - instead, every loan is collateralised, at an average of just 43% of the collateral value. One detail you should know: the EIF/InvestEU guarantee of up to €10.4M that Lande advertises covers, according to the audited 2025 annual report, only loans on the books of group subsidiaries outside the platform - it does not protect your investments.

What kinds of loans are there at Lande?

The platform carries three product groups: seasonal financing (3–12 months, secured via three-way agreements with crop buyers plus a personal guarantee), machinery loans (12–36 months, a commercial pledge on tractors, combines and the like) and land purchase loans (12–60 months, a mortgage on farmland). The average loan is around €24,600, the average term 19 months. Lande says it is withdrawing from livestock and harvest collateral, which showed the highest delinquency rates - in May 2026, 88–100% of new lending per country was secured by land or machinery.

Supply shows a real constraint: in early July 2026 only around 15 projects were open for funding at the same time - thin, given more than 10,900 registered investors, and popular projects fill up correspondingly fast. Auto-invest users repeatedly report phases of weeks with no matching project, leaving capital sitting uninvested (cash drag); availability fluctuates further with the harvest season.

A typical example: a Romanian farm running dairy cattle and grain production borrows €45,000 over 36 months at 14% p.a. for a tractor and attachments. The loan is secured by farmland worth a good €80,600 - an LTV of 56%. If the farmer defaults, the land is enforced; the buffer between loan amount and collateral value is the actual layer of protection.

Bullet, balloon, annuity, periodic payment: Lande's repayment schedules explained

Every loan in the project list carries a repayment schedule - and it determines when you get interest and principal back. Lande explains the terms only briefly on the platform, yet they are crucial for planning your liquidity. The background: farmers do not have smooth monthly income but harvest revenues and EU subsidies at fixed points in the year. The repayment profiles reflect exactly that.

What is an annuity loan?

With an annuity, the farmer pays an equal monthly instalment of interest and principal - like a classic mortgage. For you that means a steady return of capital from the first month, with the risk shrinking with every instalment.

What is a bullet loan?

With a bullet loan, only the interest flows monthly; the entire principal comes back in one payment at maturity. That suits farms waiting for one large cash inflow - say, the sale of the harvest. For you, the full principal stays at risk until the end. A special form is the full bullet: the interest, too, arrives only at the end, and such loans are excluded from the secondary market - you will hold them to maturity.

What is a balloon loan?

A balloon loan starts like an annuity with running instalments of interest and principal, but is settled early with one large final payment (the "balloon"). You receive cash flows early on, yet a substantial part of the principal still hangs on that final payment.

What does periodic payment mean?

With periodic payment, the principal is repaid in several tranches following an individually agreed plan - not in equal monthly steps, but adapted to the farm's harvest cycle (say, one large tranche after the autumn harvest). Interest flows between the tranches. It is the most flexible profile - and the one where you should look most closely at the repayment plan in the project's "Schedule" tab.

In short: an annuity gives you the steadiest cash flow, a bullet the full capital lock-up until the end, and balloon and periodic payment sit in between. If you use the advanced auto-invest to target specific schedule types, you can deliberately tilt your portfolio towards monthly cash flow or maximum interest.

How we rate Lande

We assess five criteria with fixed weights. The breakdown above summarises the scores; here is the reasoning with sources (as of July 2026).

Safety & regulation (8/10). The structure is solid: an ECSP licence granted by Latvijas Banka in February 2024, segregated investor funds at Lemonway, direct loan agreements with the farmers, and collateral held for investors by dedicated trustee companies in each country. Add the conservative average LTV of 43%. What caps the score: no buyback, no platform co-investment in the loans, and the protection mechanisms are only partly proven - enforcements are under way, but they take years.

Transparency (8/10). Lande publishes audited annual reports for 2021–2025 (most recently with an unqualified opinion), a live statistics page with delinquency and default buckets by amount and by count, and monthly performance reports including debt collection stages; the ownership structure is disclosed in the accounts (CEO Ņikita Gončars holds 78.67%). Two deductions: a realised net return after defaults is missing, and some marketing claims contradict the company's own audited figures - the homepage speaks of being licensed "since 2021" (in fact February 2024) and "profitable since 2023", although the 2023 accounts show a loss of €65,419.

Track record & stability (7/10). Managing investor money since 2020, Lande came through the agricultural stress years of 2023–2025 (drought, delayed EU subsidies, a weak harvest above all in Romania) with uninterrupted payouts and candid monthly reporting; the first defaults were fully recovered, and both 2024 and 2025 closed with an audited profit (€206,485 in 2025, equity of €722,593). Against that stands a noticeable overhang: roughly a quarter of the outstanding volume is behind schedule - 6.6% in default, about 18% late, most of it by 5–30 days. Investors have not realised any capital losses so far, but working out the older cases can take more than three years.

Returns & terms (7/10). A nominal 11–14% on consistently collateralised loans with a completely fee-free investment is adequate for the risk without looking suspiciously high; in May 2026 the investor average stood at 12.39% according to the performance report. Deductions because Lande publishes no realised net return and multi-year investor experiences (~10%; the long-term portfolios quoted on Lande's own website cite 8–10%) sit below the nominal rates - delays and reinvestment gaps cost real return. On the plus side, Lande withholds no Latvian tax at source.

Investor friendliness & liquidity (8/10). Entry from €50, a German-language interface, two-tier auto-invest and a fee-free secondary market from €2 - one of the most accessible platforms in the segment. The relevant catch: the secondary market only accepts loans that are being serviced on time - precisely the positions you would most want to offload (late loans) cannot be sold. The tax report is a generic income statement without any German Anlage-KAP formatting.

Data quality and open questions

Our grade rests on 24 of 25 review questions that could be answered from reliable sources - data quality: good. The audited accounts and the granular, live statistics stand out positively. Still open are a realised net return after defaults (Lande does not publish one), the actual duration and recovery rate of ongoing enforcements, and independent confirmation of support quality. Add the mentioned discrepancy between marketing and audited figures - not an alarm signal, but a reason to check the platform's promotional claims against the statistics page and the accounts as a matter of principle. The biggest real risk remains the combination of no buyback and slow collateral enforcement: in a default your capital is not gone, but it may be locked up for years. Diversifying across many projects and schedule types is therefore essential - the basics are covered in our article on P2P lending returns and risks.

Lande experiences from the P2P community

Lande is discussed far more quietly in the community than the big consumer-loan marketplaces; there is no broad Reddit echo. The exchange happens mainly in P2P Telegram groups, on Trustpilot and in the established P2P blogs, some of whose authors have run their own portfolios on the platform since 2021/2022.

Praised are above all three things: the intuitive asset-backed concept with low leverage, the combination - rare in this segment - of fee-free investing, a €50 entry point and a German-language interface, and the monthly performance reports that openly name uncomfortable topics such as problem collateral. Multi-year portfolios of individual reviewers reached around 10% returns.

Criticised are the delays and the sluggish enforcement: investors holding late loans sometimes wait years for recovery, and precisely those positions cannot be sold. On Trustpilot the picture is polarised at 3.4/5 from just 44 reviews (52% five-star, 27% one-star) - the complaints centre on communication gaps around problem loans, and Lande so far does not reply to negative reviews. Concerns about rising defaults voiced in Telegram groups were brushed aside rather than substantively addressed by the CEO in an interview. Individual investors also reported phases with too little loan supply (cash drag) - a concern that current supply, only around 15 projects open at once (as of early July 2026) against more than 10,900 registered investors, confirms rather than dispels.

On balance, the community picture matches our analysis: a legitimate, transparently reporting niche platform whose weaknesses lie not in the concept but in the pace and communication of problem-case handling. Individual experience reports are, however, no proof of reliable returns - they replace neither broad diversification nor your own due diligence.

Who is Lande for?

Lande suits investors looking for a genuinely asset-backed building block with 11–14% nominal interest as a portfolio addition, who can live with the quirks of the agricultural sector: seasonal, sometimes unpunctual payments and, in a default, an enforcement process that demands patience. The low €50 entry point, the auto-invest and the German-language interface make starting easy even for newer P2P investors - if you are new to P2P, read up on the basics of P2P lending first. Lande is less suitable if you depend on a buyback guarantee, guaranteed monthly cash flows or the ability to sell at any time. P2P remains a risk investment: only invest money whose temporary loss you can absorb, diversify across many projects, schedule types and platforms - and keep an eye on the delinquency statistics. How to declare your earnings correctly is covered in our article on P2P lending and taxes.