What is LANDE?
LANDE is a crowdfunding platform for loans to farmers, based in Riga and operating since 2020. Investors contract with LANDE Platform SIA, a Latvian company. The platform launched as LendSecured and took the LANDE name in 2022.
No loan originator stands between you and the farmer on LANDE. You lend to the borrower directly, and LANDE’s own companies hold the collateral for you, so what decides your money is what the collateral is worth, how long a recovery takes to turn it into cash, and how sound the small company running it all is.
How does LANDE work?
LANDE lets you lend directly to farms and agricultural companies through loans it calls projects, under a loan agreement between you and the borrower to which LANDE itself isn’t a party. The loan terms are public, but no sample loan agreement is, and each loan’s own agreement is prepared only once you invest.
The collateral, a mortgage on land or a pledge on machinery or another asset, is registered to a collateral agent LANDE owns in the borrower’s country. The agent holds it in its own name in your interest and, under a parallel-debt clause in the loan terms, can enforce the whole loan itself.
The borrower’s repayments on a LANDE loan are paid into your payment account at Lemonway, a French payment institution. No one buys back a loan that stops paying, so what protects you is the collateral. The platform earns from fees the borrower pays it and its collateral agent under each loan’s terms, as set out under Conflicts of interest.
What you can invest in
LANDE offers one kind of investment, loans to farms and agricultural companies, from €50 a loan. With Advanced auto-invest, the smallest amount per loan is €100. A loan is a claim under your agreement with the borrower, not a security, so no prospectus describes it, and each one comes with a key information sheet under the EU crowdfunding regulation that names the borrower.
On 28 August 2026, LANDE’s primary market listed 1,100 loans, most of them already funded. Land secured 534 of them and machinery 348. A guarantee, a collateral type LANDE’s help centre doesn’t describe, secured 139, and harvest, livestock or farm subsidies, which LANDE calls financial collateral, the remaining 79. Most loans repay their principal in one payment at the end, and 944 of the 1,100 were bullet or full-bullet loans.
What return can you expect on LANDE?
While LANDE’s homepage shows a return of 11.2% a year, the median LANDE investor on P2P Dash has earned 9.4% a year including cashback, across 264 portfolios, as of November 2026. LANDE’s 11.2% doesn’t hold for its investors, and neither figure counts a loss, because LANDE has never written off a loan.
Loans funded on LANDE from 2020 to August 2026 carried a weighted average rate of 11.33% a year, per its default sheet, and the loans open on its primary market in August 2026 offered 10–12%. LANDE withholds no tax and charges no fee on money invested in loans, only an inactivity fee on uninvested cash after 12 months without a new investment. Two things come off its rates:
- loans that fall late, whose money comes back when the borrower catches up, or through rescheduling or a court sale, with 42% of the money still owed off schedule in August 2026
- cash waiting for a loan, which earns no interest, a median 3.8% of LANDE investors’ money on P2P Dash
In December 2025, LANDE put its investors’ net return since 2020 at 10.5% a year with the recoveries it expected, and at 6.4% with every loan more than six months late written off. The gap between LANDE’s 6.4% and 10.5% is the money in late loans it expects to get back, so your return depends on how much of it comes back, and when. Loans funded in 2023, LANDE’s worst year, returned 7.58% and 1.66% a year on those two counts. A bad year on LANDE shows up first as years of waiting on late loans and court cases, not as a loss.
LANDE is tied for the 12th-highest Returns score of the 21 platforms I’ve reviewed, 3.5 out of 5. The score rests on what investors kept last year and this year, not on advertised rates and not on the risk of losing money, which Is LANDE safe? covers.
Is LANDE safe?
LANDE protects your money against its own failure and backs each loan with collateral, but not against the years a loan in trouble can take to repay. No buyback stands behind a loan that stops paying, and no deposit guarantee or compensation scheme covers your money. On 31 August 2026, 42% of the €30.1 million LANDE’s borrowers still owed was rescheduled, late or in collective or judicial proceedings, per its default sheet, and no loan had been written off. The risk in the assets you hold remains fully yours.
LANDE is tied for the third-highest Safety score of the 21 platforms I’ve reviewed, 3.3 out of 5. The score rests mostly on how LANDE is built, with an EU crowdfunding licence, your cash in your own name at a payment institution, loans made directly to farms and collateral held for you, against a small operator, collateral agents it owns, terms that pay LANDE before your principal, and its CEO’s earlier business, which weighs more where one person holds 78.67% of the company. It rests partly on nearly six years without a recorded loss, through 2023, LANDE’s worst year, with recoveries on loans funded as early as 2021 still running.
Is LANDE regulated?
Yes, LANDE is regulated as a crowdfunding service provider in Latvia. Latvijas Banka authorised LANDE Platform SIA under the EU’s crowdfunding regulation on 7 February 2024, with licence 27-10/2024/23, per its register. LANDE is one of 6 of the 21 platforms I’ve reviewed licensed under the EU’s crowdfunding regulation, ECSP, as of September 2026.
The licence makes LANDE give every loan a key information sheet naming the borrower, publish its default rate in the regulation’s format, test new investors’ knowledge, and give those it classes as non-sophisticated four days to cancel an investment they chose by hand. It insures nothing. The terms say no deposit guarantee or investor compensation scheme covers your money.
What happens if LANDE fails?
Your loans on LANDE stay yours if LANDE itself fails, because each loan agreement is between you and the borrower and LANDE isn’t a party to it. LANDE’s terms refer its insolvency to the EU crowdfunding regulation and Latvia’s crowdfunding and insolvency laws, and they name no one to take over the servicing of your loans.
Your cash sits in a payment account in your own name at Lemonway, which keeps its clients’ money in accounts at its partner banks under French law, apart from its own. When I opened the deposit page on 28 August 2026, bank transfers went to Lemonway’s account at BNP Paribas. The terms exclude LANDE’s liability if Lemonway or a bank fails.
The collateral is held by four collateral agents LANDE owns, one for each country, and they act on LANDE’s instructions. Latvia’s crowdfunding law keeps security registered in a provider’s or its special-purpose company’s name out of the money its creditors are paid from, where the registration notes that it secures investors’ claims. Lithuanian, Romanian and Polish collateral falls under those countries’ rules, which I haven’t checked. Whatever each country’s law says, the companies holding your collateral are LANDE’s own, and its terms don’t say who would direct them if LANDE failed.
LANDE’s own finances are small beside the loans it runs. The company made a profit of €206,485 in 2025 and had €722,593 of equity and ten employees, per its 2025 annual report, against €30.1 million still owed on its loans in August 2026. Orients Audit & Finance, a licensed Latvian audit firm, gave its accounts a clean opinion every year from 2022 to 2025. The three collateral agents with published figures had €63,363 to €117,937 of equity at the end of 2025, and Latvia’s company register showed two commercial pledges over LANDE Platform SIA in August 2026, whose holders LANDE doesn’t disclose. An audit covers LANDE’s own books, not the loans you hold.
Borrowers
LANDE’s borrowers are farms and agricultural companies in Latvia, Lithuania, Romania and Poland, and each loan’s key information sheet names its borrower. Of the 1,100 loans on LANDE’s primary market on 28 August 2026, 481 were Latvian, 292 Romanian, 260 Lithuanian and 67 Polish.
The four loans I opened that day, one in each country, went to a cattle farm in Latvia, a grain producer in Romania, a grain farmer in Lithuania refinancing an earlier loan and a cattle farm in Poland, at 10–12% a year and 44–55% of the collateral’s value.
A borrower can have several LANDE loans at once. The Latvian loan’s page listed seven other loans of the same borrower, without a total of what it owed. A portfolio of many LANDE loans can hold several loans to the same farm.
Mortgage
Collateral, mostly a mortgage on land or a pledge on machinery, is what protects a LANDE loan that stops paying. LANDE has no buyback obligation, or buyback guarantee as it’s often called, and its help centre names what else secures its loans: insurance, personal guarantees and three-way agreements with grain buyers.
The General Loan Terms let LANDE or its collateral agent refuse to pay out a loan above 60% of the collateral’s market value, as assessed. The average loan-to-value stood at 43% on LANDE’s statistics page in March 2026, and the nine loans on the first page of its primary market on 28 August 2026 ranged from 24% to 55%. The valuations behind those figures vary in age. The Romanian loan I opened carried a market opinion dated the day before, and the Lithuanian one land ratings from January 2024.
A borrower more than 30 days late who doesn’t catch up within 20 working days of a demand can have the loan ended, and the collateral agent can then sell the collateral at a court auction. You can’t contact the borrower or act on the collateral yourself, because the terms leave recovery to LANDE and its agent. The 60% limit is measured on the valuation at payout, so what it protects in the end depends on what a court auction gets for the farm’s land or machinery.
Defaults and recovery
LANDE has recorded no permanent loss on any loan since its first loan in September 2020, per its default sheet for 31 August 2026. The same sheet shows €30.1 million still owed on 1,070 loans. €17.4 million was on schedule, €4.5 million was on 144 loans with a changed schedule, €6.0 million on 188 loans late by up to six months and €2.3 million on 108 loans in collective or judicial proceedings, €12.7 million or 42% of the total rescheduled, late or in proceedings. No loan was more than six months late. A loan in trouble on LANDE shows up as a new schedule or a court case rather than a loss, so the zero in its loss row counts write-offs that haven’t happened, not money that came back.
LANDE’s default rate under the regulation was 3.63% across all loans since 2020 and 9.35% for loans funded in 2023, its worst year, on 31 August 2026. Of the 108 loans in proceedings, four were funded in 2021, 16 in 2022 and 47 in 2023.
LANDE’s help centre says a loan is refinanced when its borrower can’t repay it on time or on schedule, “to avoid late repayments”. Interest keeps accruing until a loan is repaid, while the terms let LANDE and its agent keep late interest and penalties. In a recovery, LANDE’s terms allow your claim to be sold below its face value, at a loss to you.
Latvia declared a state of emergency in agriculture across the country on 30 September 2026, over the damage from that year’s rains and floods, in force until 10 January 2027, by a Cabinet order. Latvian loans were 481 of the 1,100 on LANDE’s primary market in August, and LANDE’s latest sheet predates the order.
Conflicts of interest
LANDE has four conflicts of interest with its investors, set out in its terms and its annual report.
- LANDE can change its terms by publishing them, and you can’t leave while you hold a loan. A new version takes effect on publication or on a date LANDE sets, and objecting means closing your account within ten days, which the terms allow only once you’re party to no loan agreement. LANDE used this to add an inactivity fee from 5 October 2026.
- LANDE and its collateral agent are paid before your principal. When a borrower’s payment can’t cover everything owed, the loan terms pay collection costs first, then LANDE’s and its agent’s unpaid fees together with your interest, and only then your principal. The terms let LANDE and its agent keep late interest and penalties for their own benefit.
- LANDE is paid by the borrowers it lists for you to lend to. Each loan’s terms make the borrower pay LANDE’s and its collateral agent’s fees, so LANDE earns on every loan it lists.
- LANDE owns the companies holding your collateral and lends money to one of them. Its collateral agents are wholly owned subsidiaries acting on its instructions. At the end of 2025, LANDE had lent one of them, SF MGMT Collateral, €418,650 unsecured “to pay the assignment fee to the Lender”, and its CEO and main owner, Ņikita Gončars, €51,609 on an unsecured credit facility, per its 2025 annual report.
How do you use LANDE?
You use LANDE in six steps, from signing up to choosing how your money is invested.
- Sign up with your email address and a password, and confirm your email address.
- Enter your contact details and address, and accept LANDE’s terms and those of Lemonway, its payment institution.
- Answer LANDE’s questionnaire, which decides whether LANDE classes you as a sophisticated investor.
- Verify your identity with Onfido, which LANDE requires before you can use your account.
- Add money by Pay by Bank or by bank transfer from an account in your own name.
- Choose how your money is invested, by hand on the primary or secondary market, or with Basic or Advanced auto-invest.
LANDE is tied for the fifth-highest Usability score of the 21 platforms I’ve reviewed, 3.5 out of 5. The score rests on LANDE’s Advanced auto-invest, which filters loans by rate, term, loan-to-value, collateral, repayment schedule and country, and on the income statement you can download for your tax return. Two things count against it: a strategy can’t be edited once it has invested, and Basic auto-invest has no filters at all.
Opening an account
LANDE verifies your identity through Onfido before you can use your account. I registered on 27 August 2026, and the email approving my account came 80 minutes after the one asking me to confirm my email address. The sign-up was clunkier than that timing suggests, with an occupation picker that hides its options inside vague categories and a last page that says your file is being processed without telling you to log in. The questionnaire classed me as a non-sophisticated investor, so I had to acknowledge a risk warning before going on.
Deposits
Depositing on LANDE by Pay by Bank costs €0.50 for amounts under €500, per its help centre, and LANDE publishes no fee for a bank transfer. Pay by Bank is an instant payment you approve in your own bank, and the deposit page recommends it. A bank transfer must come from an account in your own name and carry your personal reference, or Lemonway charges €50 to process it by hand. When I opened the deposit page on 28 August 2026, that reference still began with “LENDSECURED”, the platform’s name until 2022.
Auto-invest
LANDE has two kinds of auto-invest, Basic and Advanced.
| Way of investing | Who picks the loans | Limit per borrower | Getting out before maturity |
|---|
| Basic auto-invest | LANDE’s flow of new loans, every one of them | None | The secondary market |
| Advanced auto-invest | You, by rate, term, loan-to-value, collateral, repayment schedule and country | None | The secondary market |
| Buying by hand | You, one loan at a time, with filters for rate, term and loan-to-value | None beyond your own choices | The secondary market |
I set up both kinds on 28 August 2026 without starting either. A strategy that has made an investment can’t be edited, only stopped and replaced. Loans bought by auto-invest get no four-day reflection period, which LANDE gives non-sophisticated investors on loans they choose by hand. New loans fill fast. That morning, a loan that opened at 10:23 was 74% funded when I looked again at 11:41. Neither kind can leave out refinancing loans or limit what goes to one borrower, because no filter covers a loan’s purpose or its borrower.
Tax reports
LANDE provides an income statement you can download as a PDF from the Balance section of your account, per its help centre. The same section exports your transactions.
Support
Support on LANDE runs through a request form on its help centre, which no support contact of mine has tested. The terms name support@lande.finance for cancelling an investment during the reflection period, and its help centre lists no phone number or hours.
How fast can you get your money out of LANDE?
You can withdraw cash from LANDE for free to a verified bank account in your own name, and LANDE’s terms and help centre give no time for a withdrawal. Money in a loan comes back as the farmer repays, most of it in one payment at the end, or earlier if another investor buys the loan at face value on the secondary market, which takes no defaulted, full-bullet or periodic-payment loans, or any loan past its final payment date. Money in a loan that stops paying waits on rescheduling or a court sale.
LANDE is tied for the fourth-highest Liquidity score of the 21 platforms I’ve reviewed, 3.0 out of 5. With no money in my account, the score rests on LANDE’s terms and on the market as I found it, with free withdrawals and a fee-free secondary market weighed against sales at face value only and a market whose listings were all late loans on 28 August 2026.
Withdrawals
LANDE withdrawals are free and go only to a bank account in your own name that Lemonway has verified. To add one, you upload a letter from your bank showing your name, the bank’s name and logo and the IBAN, which Lemonway checks by hand, per LANDE’s help centre. My account has never held money, so these are LANDE’s terms, untested by me. Investors’ reviews on Trustpilot describe withdrawals held up for six weeks by this verification in April 2024, and by a broken re-verification link in January 2026.
Secondary market
The LANDE secondary market is where you sell your loans to other LANDE investors before they mature, at face value and with no fee. The terms set the price at the principal still owed, so a seller can’t offer a discount. The terms bar defaulted and full-bullet loans, and since 16 October 2026 LANDE’s rules have also barred periodic-payment loans. No loan can be sold once its final scheduled payment date has passed, so a bullet loan whose borrower misses the final repayment can’t be sold. A loan bought on the secondary market can be resold only after a new payment on it has been processed, and a late one only once the borrower has caught up.
Full-bullet and periodic-payment loans made up 252 of the 1,100 loans on LANDE’s primary market on 28 August 2026, so nearly a quarter of the loans LANDE has listed are of kinds that can’t be sold at all. That day the market held 441 listings at face value, and its filter for current loans returned none, so every loan on offer was late. With no discount allowed, the market gives you no way to sell a loan in trouble at a price that reflects the trouble.
Closing your account
You can close your LANDE account only once you’re no longer a party to any loan agreement, and LANDE closes it within ten days of your request. You ask through the help centre’s request form, quoting your payer ID, and LANDE pays your balance to the account you deposited from within ten days of closing. A loan still in recovery keeps your account open, however long the recovery runs.
What fees does LANDE charge?
LANDE charges no fee to invest, withdraw or sell on its secondary market. Paying in by Pay by Bank under €500 is the one charge you can choose, and the one fee for doing nothing is an inactivity fee on idle cash, in force since 5 October 2026. LANDE is one of 6 of the 21 platforms I’ve reviewed that charge an inactivity fee, as of September 2026.
LANDE fees and costs | Deposit fee | €0–€0.50 €0.50 per Pay by Bank deposit under €500, none from €500 |
| Investment fee | Free |
| Early exit fee | Free on the secondary market, sales are at par |
| Withdrawal fee | Free to verified own-name IBANs |
| Currency conversion | EUR-only platform non-EUR transfers converted by your own bank |
| Inactivity fee | €10/month after 12 months without a new investment · €50/month from the 13th month of charging · taken only from uninvested cash, even with loans still running |
| Withholding tax | 0% the platform withholds nothing, you declare the interest yourself |
Lemonway’s €50 charge for a mis-sent bank transfer sits outside the table, and collection costs in a recovery are paid from what’s recovered before you are.
The inactivity fee is €10 a month for its first twelve months and €50 a month after that, taken from your uninvested cash once twelve months pass without a new investment. Repayments, recoveries, deposits and withdrawals don’t count as activity, and the fee applies even while your loans are still running or in default. It never takes more than your available cash and never makes your balance negative. The fee bites hardest on an investor winding down, since repayments and slow recoveries from loans that can’t be sold keep landing as cash. One new investment every twelve months, or withdrawing cash as it arrives, keeps the fee from applying.
Pros and cons
What LANDE does well
- Your loans and cash on LANDE stay yours if LANDE itself fails. LANDE isn't a party to the loan agreement between you and the farmer. Your cash sits in a payment account in your own name at Lemonway, which keeps client money apart under French law.
- LANDE's loan terms let it refuse a payout above 60% of the collateral's value. Land or machinery secured 80% of the 1,100 loans listed on LANDE's primary market on 28 August 2026. LANDE's statistics page put the average loan-to-value at 43% in March 2026.
- Latvijas Banka supervises LANDE under the EU's crowdfunding regulation. Every loan comes with a key information sheet naming the borrower, and LANDE publishes its default rate in the regulation's format, with its late and rescheduled loans and its losses beside it.
- The median LANDE investor has earned 9.4% a year, including cashback. That's the median of 264 LANDE portfolios tracked on P2P Dash, as of November 2026.
Where LANDE disappoints
- A LANDE loan that stops paying can hold your money for years. On 31 August 2026, 42% of the €30.1 million LANDE's borrowers still owed was rescheduled, late or in collective or judicial proceedings. Loans funded in 2021 were among those still in proceedings.
- LANDE's secondary market can't sell a defaulted loan, and its late loans are listed there at full price. Sales are at face value only. On 28 August 2026, all 441 listings were late loans, and full-bullet and periodic-payment loans can't be sold at all.
- LANDE had €723,000 of equity at the end of 2025, against €30.1 million its borrowers owed in August 2026. It had ten employees in 2025. Its own subsidiaries hold your collateral, the largest with €118,000 of equity at the end of 2025. Latvia's company register showed two commercial pledges over LANDE in August 2026, whose holders LANDE doesn't disclose.
- LANDE's CEO and main owner co-owned the non-bank lender with the most consumer complaints in Latvia in 2016. Latvia's public broadcaster reported that the lender, Latvijas Hipotēka, bought homes from owners in financial trouble, even below their cadastral value. Police opened at least one fraud investigation, and no charges were reported.
- LANDE charges an inactivity fee on idle cash, even while your loans are still running. Since 5 October 2026, an account with no new investment for twelve months pays €10 a month from its uninvested cash, and €50 a month after a year of charges. Repayments and recoveries don't count as activity.
Who should use LANDE?
LANDE suits investors who want loans secured by farmland and machinery and can leave money untouched for years if a loan stops paying.
LANDE suits:
- Investors who want to lend to farms directly, with no loan originator between them and the borrower
- Investors who can hold each loan to maturity and leave part of their money in rescheduling or court proceedings for years
- Investors who read each loan’s key information sheet and LANDE’s default sheets before they invest
- Investors who’ll spread small amounts over many loans, from €50 each
Avoid LANDE if you are:
- Needing your money back on a schedule, because a loan that stops paying is rescheduled or taken to court, and the secondary market can’t sell it once it defaults
- Counting on someone to buy back a loan that stops paying, because LANDE has no buyback obligation
- Reading LANDE’s record of no losses as money returned, because no loan has ever been written off while 108 were in court proceedings in August 2026
- Looking for a large, well-capitalised company behind your loans, because LANDE had €723,000 of equity at the end of 2025 against €30.1 million its borrowers owed in August 2026
- Troubled by the earlier business of LANDE’s CEO and main owner, which drew Latvia’s most non-bank consumer complaints in 2016
- Planning to leave cash idle, because an inactivity fee applies after twelve months without a new investment
