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Today is no ordinary day. Four years ago, hive5 was launched. In other words, it’s been 1 461 days of building an investment platform that makes investing simple and profitable. Honestly, it wasn’t an easy journey, but it was definitely an interesting one –  and today we’re four times stronger than we were four years ago. Yet this is only the beginning.  

Our Main Achievements  

We’re happy to share the key numbers that show how much we’ve grown: 

• Total loan volume funded since inception: €209M 

• Interest paid to investors: €5.7M 

• Total registered investors: 29 702 

Over the years, our business has experienced many successful moments. However, the greatest achievement is the community of nearly 30 000 investors who have become part of hive5. This is more than just a number – it represents the trust and commitment each of you has shown to our platform. We are truly grateful. 

One of the Most Important Lessons We’ve Learned  

Since our launch, we have had ups and downs. However, our company’s main goal has always been to see every challenge as an opportunity to grow. Along the way, we’ve learned many valuable lessons. But the most important one is: our community values transparency more than promises. That’s why we try to meet your expectations and maintain open, transparent communication with our community. 

What Never Changes? 

While we have been improving the platform, there is one essential thing that has remained unchanged: we don’t have a single overdue loan on the platform. This is the result of our well-developed overdue loan management process. Every single loan is protected by a buyback guarantee that becomes effective in the first few days after a payment delay. As many investors have shared in their Trustpilot reviews, on-time investment repayments are what investors value the most. Timely repayments allow them to plan finances and continue growing their portfolios by reinvesting.  

A Message From the CEO of Hive Finance Group 

“Although I joined Hive Finance Group only recently, I have stepped into a business with four years of operating history and a strong investor community. 

What stands out the most to me is the responsibility that comes with serving a community of nearly 30,000 registered investors.  

Our next stage will focus on strengthening the product, improving transparency and continuing to build a platform that delivers long-term value to both investors and the companies within Hive Finance Group. 

I would like to thank the entire hive5 team and every investor who has contributed to this journey.” 

— Krisjanis Znotins, CEO of Hive Finance Group 

One of the Baltics’ most experienced leaders — combining fintech and banking experience, and one of very few who has actually run a lending business across Spain, Poland and Romania — takes over as Hive Finance Group enters its next phase: a sharper focus on profitability. 

Hive Finance Group has appointed Krisjanis Znotins as its new Group CEO. Znotins brings more than fifteen years of leadership across international fintech, banking, leasing, and serving on supervisory boards. He also becomes a minority shareholder of the Group and arrives at a moment when Hive Finance Group is moving from foundation-building toward streamlined operations and sustained profitability. 

About Hive Finance Group 

Hive Finance Group is based in Vilnius and operates in three core markets: Poland (through Ekspres Pożyczka and Firmeo), Spain (FinJet), and Romania (Credilink). 2024 was the Group’s first year of consolidated profitability, with €11.5 million in revenue and €1.89 million in EBITDA. Alongside its lending businesses, the Group also runs Hive5, an alternative investment marketplace, which to date has paid more than €4.6 million in interest to over 29,000 investors. Earlier this year Hive Finance Group became part of Ruptela Group, a move that brought additional strategic and financial weight to the business. 

A strategic fit, at the right moment 

The most compelling part of this appointment is a simple fact: Krisjanis has done this before, in the same markets, with a similar model — and he has done it profitably. 

Most recently, as CEO of Wandoo Finance Group (August 2023 – January 2025), he ran a Latvia-headquartered consumer fintech serving underbanked customers in Spain, Poland and Romania — the same three markets that define Hive Finance Group today. Under Krisjanis’s leadership, Wandoo reached stable profitability, deepened its use of AI in underwriting, completed a shift to fully digital customer journeys, and diversified its funding across equity, the P2P platform, and individual investors. 

The architecture — lending companies in European markets fueled by funding from an investor marketplace — is structurally close to what Hive Finance Group runs with Hive5 today. In short, he has built and turned profitable a group that looks a lot like ours. 

A welcome from the Founder 

«Krisjanis is exactly the leader we needed for this next chapter,» said Andrius Rupsys, founder of Hive Finance Group. «There aren’t many people in Europe who combine deep banking discipline, listed-fintech operating experience and real operational familiarity with Poland, Spain and Romania. His track record is remarkably consistent: he leaves every business he touches stronger, more profitable and more scalable. But what made the decision easy was the alignment on values — ambition, accountability, transparency, and a real belief that the team is the centre of everything.» 

Track record 

Before Wandoo, Krisjanis Znotins spent five years at Eleving Group, one of the largest Baltic-born financial groups in Europe, serving as CEO of the Latvian business. At Eleving’s Latvian business he led a strategic transformation from traditional lending into a mobility platform covering car finance, used-car rental and subscription services — delivering €5.6 million in profit in 2021, the highest in the company’s history, and overseeing a €30 million bond listing on Nasdaq First North. 

Earlier, he spent nearly a decade at DNB and its successor Luminor, one of the largest banks in the Baltics, ultimately serving on the Luminor Latvia management team as Head of Business Clients, with a portfolio of 30,000+ SMEs.  

Alongside his executive career, he is Council member at ALTUM, Latvia’s state-owned development finance institution with around €1.5 billion in assets, Council member at Pauls Stradiņš Clinical University Hospital — the second-largest hospital in Latvia. 

What this means for investors 

For Hive5 investors, the most important message is continuity. All loan repayments continue on time, and nothing changes in day-to-day operations.  

What does change is the direction. The Group is now firmly oriented toward profitability rather than growth. We have invested in new branches and capacity over the last period; the priority now is to make those operations work more efficiently, and more profitably — and to broaden what we offer investors. 

In line with that, a new 2-year Firmeo product at 14.5% interest launches this week on Hive5, giving investors a longer-duration, higher-yield option in our most established product line. 

To further expand our offering, we will explore new products that support greater diversification while still maintaining same-day access to funds.  

Both reflect the broader direction under the new leadership: more diversified products and more flexibility for the people who fund our growth. 

In his own words 

«Hive Finance Group is at the stage I find most exciting,» Krisjanis Znotins said. «The foundations are built, but the next steps are about building Group-wide systematic processes that support sustained, profitable growth. In the end it comes down to people — meeting Andrius and several of the key people around him made the decision clear from the start.» 

Asked where he sees the biggest opportunity, Znotins points to three levers: operational excellence; deeper use of technology and AI across underwriting, collections, customer acquisition and service; and careful, selective expansion into adjacent products, new markets and partnerships. 

Looking ahead 

His immediate focus will be on understanding the business in detail, getting to know the team and key stakeholders, aligning everyone around a focused strategic roadmap, and delivering stable profitability — turning the foundations that have been built into a leaner, more efficient, more profitable Group. 

P2P investing has become more and more attractive to institutional investors. Platforms attract capital from hedge funds, family offices, and even traditional banks. This shift brings larger funding volumes, stability, and increased confidence for platforms. At the same time, everyday investors are becoming more loyal, strategic, and engaged. 

Institutional Investors 

In recent years, big players like hedge funds, banks, and family offices have begun investing directly into P2P platforms. We’ve noticed the growing number of institutional investors, too. The main reason is that platforms offer higher potential returns than traditional fixed-income products like bonds. These large institutions help platforms grow by providing steady capital. 

In 2024 and 2025, this trend has become even stronger. Institutional capital now plays a major role in the success of many platforms. It brings more stability and ensures the support of loan demand – even during economic uncertainty.

Why is it Beneficial for Retail Investors?

Institutional investors invest side-by-side with retail (individual) investors in the same loans. Everyone shares the same terms, risks, and returns. It creates fairness and trust. For individual investors, this setup offers extra trust. If a big institution is willing to invest in a loan, that’s often a good sign that the loan has gone through strict checks. It also helps reduce platform risk and makes funding more reliable.

Loyalty and Confidence

More and more P2P investors are sticking with the platforms they trust. At hive5, we’ve seen a steady rise in returning investors. It is a very satisfying trend. We understand that rewarding loyalty builds stronger long-term relationships. That’s why hive5 offers loyalty programs for consistent investors.

Our loyalty program gives users who’ve invested over 5,000 EUR and remained active for 90 days an additional return – up to 1% annually. Around 10% of active users are already making use of this feature. It’s a clear sign that investors appreciate these benefits.

New in Investing?

Whether you’re a new investor or someone with more experience, it’s a great time to review your investment strategy, explore what hive5 has to offer and see how these changes could work in your favour.

If you’d like help getting started or have questions about how to invest, our team is always happy to assist.

November brought steady growth, with key metrics improving compared to October. The loan volume originated during the month was €4,706,467, a notable increase from October’s €4,374,093. Therefore, we are fully prepared to conclude this year on a high note.

Let’s take a closer look at the main business highlights for November:

• Total loan volume funded since inception: 71,153,324 EUR
• Loan volume originated in November: 4,706,467 EUR 
• Number of loans originated in November: 7,626
• The average nominal interest rate of loans originated: 14.2% 
• Number of active investors: 17,451
• Paid back principal total: 59,620,228 EUR
• Paid back interests total: 1,541,367 EUR 

As we focus on closing out a successful year, our team is working hard preparing strategies for 2025. We are reviewing performance, analysing opportunities, and identifying improvement areas to deliver more value to our investors.

In addition to operational developments, we’re excited to announce an important update from our IT team: investors can now download account summaries directly from the platform. This new feature simplifies account management, ensuring a smoother user experience.

Thank you for being a part of hive5. We look forward to achieving even more significant milestones together!

Following a month of rapid growth in September, our loan volume in October has stabilised, which is no surprise. After a significant surge, it’s natural for growth to find a steady pace. Nonetheless, we are pleased to see our community of investors growing stronger, reaching more than 15,000 investors. To each of you – thank you for your continued trust and support.

Let’s take a closer look at the main business highlights for October:

• Total loan volume funded since inception: 66,966,693 EUR
• Loan volume originated in October: 4,374,093 EUR
• Number of loans originated in October: 8,247
• The average nominal interest rate of loans originated: 14.4%
• Number of active investors: 15,785
• Paid back principal total: 56,334,123 EUR
• Paid back interests total: 1,417,283 EUR

With 4.37 million EUR in loans originated and an increasing number of investors, hive5 remains on a strong path. The continued growth in our investor community reflects a lasting interest in our platform.

As we head into the year’s final months, our focus is on closing 2023 on a high note. We’re analysing our progress, identifying areas to improve further, and setting strategic plans for next year. We aim to provide our investors with even better results and value in the coming year

Hive Finance Expands to New Market: The Reasons for Choosing Romania 

 

Hive Finance is finishing the last processes before launching a new company in Romania. This marks our third loan company in Europe and represents a strategic move to enter one of the EU’s most promising markets.

Why Romania?

Romania presents a unique opportunity for non-banking financial institutions. The country combines highly skilled lending professionals with relatively few alternative lending options compared to the traditional banking system. After deep market research, we have decided that this environment is perfect for growth and innovation.

Romania has a population of approximately 20 million people, evenly distributed between large urban areas and smaller urban and rural regions. Notably, the rural areas have lower access to financial services, creating a significant opportunity for Credilink to make a difference. Despite the average net income increasing significantly over the past five years, a substantial portion of the population earns below 600 euros monthly. This demographic, estimated at over 5 million people, represents a vast potential market for our services.

Key Advantages

Moreover, we want to highlight several main advantages that make the Romanian market particularly attractive for investment:

• Skilled Workforce: ​​Romania has a highly skilled workforce, particularly in the lending sector. This expertise is essential for delivering high-quality financial services.
• Regulatory Clarity: Romania’s regulatory framework is clear and supportive, providing a stable environment for business operations.
• Cost-Effective Operations: Romania’s relatively low business costs make it an economically viable market for expansion.

Strategic Expansion

We conducted in-depth research to understand the economic landscape, consumer behaviour, and regulatory environment. This detailed approach ensures that our entry into Romania is well-informed and strategic. We recognise the country’s potential for consumption growth, particularly in the still-developing online consumer credit sector with only a few competitors.

Building Trust and Confidence

At Hive Finance, we understand the importance of trust and transparency. Our extensive experience and successful track record in other European markets back our expansion into Romania with Credilink. We are committed to maintaining high standards of integrity and excellence, ensuring our services are reliable and trustworthy.

We look forward to positively impacting Romania and establishing Credilink as a leader in the consumer loan market.

 

¡En marzo hive5 lo ha hecho genial!, no ha sido simplemente un mes más, sino que ha sido un mes de romper récords. Nuestro volumen de préstamos se incrementó enormemente y alcanzamos un impresionante aumento del 48% comparado con febrero.

 

Echemos un vistazo a los principales resultados de negocio de marzo:

• Volumen de préstamos total originado desde inicio  – 39 533 058 Eur 
• Volumen de préstamos originado en marzo – 3 671 399 Eur (vs 2 486 840 Eur in February)
• Número de préstamos originados en marzo – 3 686
• Tipo de interés medio nominal de los préstamos originados en marzo – 14.82% 
• Número de inversores activos – 10 774

 

Por último, aquí está la guinda del pastel: el programa de lealtad ha estado en nuestra lista de planes durante mucho tiempo y por fin lo hemos estrenado. Estamos encantados de cumplir con vuestras peticiones e incrementar los retornos de los inversores más fieles desde un 0,5% hasta un 1% (dependiendo de la cantidad de la inversión). Ya seas un Navegante descubriendo tu camino, un Viajero navegando hacia tus sueños o un Pionero liderando el camino, tu viaje de inversión con hive5 está lleno de posibilidades. Es nuestra forma de dar calurosamente las gracias por vuestra confianza e inversión en hive5.

Marzo ha sido un mes de éxito en nuestra plataforma, y estamos deseando ver lo que nos depara abril.

 

Los inversores ya han invertido más de un millón de euros en los préstamos de negocios de nuestro nuevo originador Finjet en hive5. El propósito de estos préstamos es ejecutar las operaciones y expandir nuestro negocio. Además, estamos preparándonos para lanzar el tipo favorito de préstamo de los inversores (los préstamos personales a corto plazo) en febrero. Estos préstamos se emitirán por el mismo originador español, Finjet.

Detalles legales:

• Nombre de la empresa: Mana Concept S.L.
• Número de registro: B67420703
• Accionistas: UAB «Hive Finance»
• UBO: UAB «Hive Finance»

El Mercado Español

Lo primero de todo, la economía española está en constante crecimiento al igual que el mercado de préstamos online. Además, el Euro es moneda oficial en España, lo que proporciona una base sólida para las transacciones financieras. La adopción del euro elimina el riesgo divisa para nuestros clientes y para la empresa, reflejando nuestra dedicación para ofrecer operaciones de inversión segura dentro de un marco de política monetaria estable.

Por último, el marco regulatorio español, caracterizado por su apertura y ausencia de problemas de crédito permite proporcionar soluciones financieras sin limitaciones innecesarias. Esta libertad regulatoria ofrece la posibilidad a nuestra empresa de ofrecer productos innovadores para adecuarnos a las necesidades de nuestros clientes. Al mismo tiempo, seguiremos permaneciendo fieles a las reglas de crédito que nos han funcionado hasta la fecha.

Modelo de Puntuación

Detrás de cada empresa financiera con éxito hay una sólida base de conocimiento. Mientras nos integramos en el mercado español, sabemos que podemos contar con nuestra experimentada base de datos para evaluación de calidad y gestión del riesgo. Finjet usa proveedores líderes de puntuación. Estos proveedores ofrecen datos en bruto muy valiosos, además de puntuaciones de riesgo, siendo la base del proceso de toma de decisiones de Finjet.

Los Servicios de Finjet

Finjet se centra inicialmente en los préstamos personales a corto plazo desde los 100 hasta los 500 euros con un plazo de 30 días, aunque en el futuro tiene previsto expandir su oferta para incluir préstamos a plazos más adelante este mismo año. De manera reseñable, en España no existe regulación específica que limite el precio de estos préstamos, con lo que existe flexibilidad para el crecimiento y desarrollo de nuestros servicios de préstamos.

Equipo Profesional

Alex Teslenko – CEO de Finjet que ha trabajado como COO en Hive Finance durante más de un año. Alex ha trabajado en empresas bancarias y no-bancarias durante más de dos décadas como Director General, Director de Recaudación y COO, desde bancos gigantescos hasta startups del sector fintech. Por tanto, está familiarizado en la práctica con los aspectos legales internacionales de los préstamos, los riesgos de crédito y el desarrollo de estrategias de negocio financieras exitosas.

Luis M. Garcia Ortega – Gestor de Operaciones – con 15 años de experiencia en fintech y préstamos alternativos, Luis presenta un sólido histórico de maximización del retorno de las inversiones. Su expertise incluye operaciones, marketing y desarrollo de negocio en la reputada y reconocida empresa financiera Ferratum group.

Antón Amann – Marketing Manager – un alma curiosa que sabe cómo atraer nuevos clientes y fidelizarlos. Guiado por su curiosidad está en constante exploración de estrategias de marketing innovadoras. Posee una gran experiencia en empresas fintech dentro del sector Agile. Ha trabajado en Dineo Credito, un prestamista popular en España, durante más de 5 años. Por tanto, aporta un gran conocimiento de micro-lending en España.

Ventajas Competitivas

Finjet aspira a destacar con su máxima eficiencia tecnológica en todos sus procesos y un enfoque concentrado en soluciones que minimizan la necesidad de recursos humanos. El equipo español desea simplifica operaciones, mejorar la eficiencia y proporcionar a los clientes servicios de préstamos confiables. El CEO de Finjet, Alex Teslenko afirma: “Queremos entrar en el mercado español usando la experiencia que hemos acumulado previamente, los desarrollos y el saber-hacer. La marca Finjet lleva asociada el mismo significado de lo que queremos ofrecer a nuestro cliente: un servicio sencillo, rentable y por encima de todo rápido como un jet a reacción”.

With only a few days left until New Year, we want to express our gratitude to our team, investors and business partners; thank you for choosing hive5 and believing in our team. Looking back on 2023, we see it was a year of growth, learning, and building solid foundations for the future. While some plans may not have unfolded exactly as expected, we have achieved remarkable milestones.

2023:

Firstly, and most importantly, 2023 was a year of rapid growth. Over 8000 investors joined our platform. Your trust and engagement have been the biggest motivation for our improvement. Moreover, this year, we celebrated our first birthday. Every day, we become more confident in navigating the dynamic landscape of financial services.

From the perspective of Hive Finance, we have worked hard on improving the scoring model to ensure low default and stable operations. Also, the foundations for productive diversification have been prepared: MIP license in Poland and all necessary work to start the credit card operations. Another huge milestone was the establishment of the first microcredit companies in Spain and Romania. Additionally, in 2023, we took a significant step by preparing and sharing the financial results of all Hive Finance companies. This commitment to openness ensures that every investor has access to the information they need to make informed investment decisions.

2024:

We are excited about the opportunities as we await the dawn of 2024. Our journey continues, and we have some thrilling plans.

From the beginning of the year, we will launch the Spanish loan originator and prepare for another launch in Romania. One more project is at the final stage before launch – Polish credit cards. Additionally, we have an important plan to increase the Group’s profitability and liquidity reserve. Finally, we want to expand the community of investors and ensure smoother platform use. Hence, we have many plans to improve the website of hive5.

Our joy extends to the dedicated and professional team of Hive Finance’s companies. Their loyalty and hard work are the core of our achievements, and we couldn’t be happier to stay together in 2024.

Thank you for being an essential part of the hive5 journey, and we wish you a successful New Year filled with new possibilities.

Desde el lanzamiento de hive5 , muchos inversores se han convencido de la fiabilidad de «Ekspres Pozyczka» y han quedado satisfechos con el generoso retorno de la inversión. Si aún estás considerando invertir en préstamos empresariales en hive5, hoy queremos explicar por qué debería ocupar una parte significativa de tu cartera de inversiones.

La Empresa Exitosa

Después de más de un año desde el establecimiento de la empresa en Polonia, podemos decir con confianza que el éxito de Ekspres Pozyczka radica en su compromiso con la tecnología de vanguardia para la evaluación del riesgo. La empresa se diferencia al emplear un análisis avanzado de big data y un motor de decisiones de riesgo autoaprendizaje. Esto permite a Ekspres Pozyczka desarrollar un amplio modelo de puntuación, que incluye múltiples factores para la gestión efectiva del riesgo. Este enfoque innovador posiciona a la empresa para navegar los posibles desafíos en la economía global, mostrando resiliencia y adaptabilidad. Además, proporciona una alta confianza a los inversores.

Ekspres Pozyczka utiliza los fondos que recaudan estos préstamos empresariales para expandir sus operaciones crediticias. Con una piscina de inversión actual de €2.31 millones en hive5 , Ekspres Pozyczka ha demostrado su atractivo para los inversores que buscan oportunidades en el mercado de préstamos alternativos.

Consideraciones Futuras de Inversión

Recientemente, muchos inversores han estado preocupados por el inminente cambio en la legislación que entrará en vigor en 2024. La nueva ley restringirá la inversión en préstamos personales de Polonia. Sin embargo, es importante señalar que hive5 seguirá ofreciendo préstamos empresariales de la región, que no se verán afectados por la nueva regulación. Además, Ekspres Pozyczka se dedica a mantener un sólido historial y planea continuar creciendo su cartera crediticia utilizando recursos internos. Mantiene una tasa de incumplimiento excepcionalmente baja que supera a los jugadores del mercado.