Review of Modena

Top 4 Liquidity
Updated | November 2026

*Independent analysis and review: P2P crowdfunding, yield, security, and default risks.

Yield
Up to 11%
Type
P2P Private Individuals
Risk
(5/10)
Medium
Liquidity
Total
Regulated
No
Country
Estonia

InvantAPPs score

70/100
  • Good
Visiting Modena

Breakdown by Category

Detailed scores for each area assessed

 0/20 
Significance within its sector
 0/10 
Ease of use and mobile app
 0/10 
Compound interest payable
 0/10 
Welcome bonus and referral bonus
 0/10 
Tax-friendly
 0/10 
Investment liquidity
 0/30 
Returns and fees

Features

Minimum investment:
50,00 €
Regulation:
Unlicensed
Withdrawal fee:
Free
Payment methods:
Instantaneous · SEPA
Type of investor:
Private individual
Suitability test:
No
Geographical exclusions:
Only EEA

Platform statistics

Assets under management
8.663.358,62 €
Updated: November 2026
Portfolio health:
Healthy
Loans per day: 99.6%
In moringa/recovery: 0.4%
7068
Investors

7

Years in active service
2019
Founded
Loans financed:
4.303.280,00 €
Average interest:
7.2%
Audited accounts:
Yes

InvantAPPs Portfolio

  • Active Investment
Total portfolio:
1.085,00 €

TIR:

9.60%
From:
October 2025
My current investment
View My Portfolio
Roll in a wallet:
Liquidity

Security: A regulated platform or one with a long track record in the sector.

Liquidity: A platform where funds can be withdrawn quickly.

Returns: A platform offering high returns but carrying a higher level of risk.

Suggested allocation:
3
-5

%

Percentage of the total recommended portfolio capital.

Dedication:
Bass

Required active management time.

Surveillance:
Long term

Long term = No worries.

Short-term = Something to watch out for.

Active alert = Immediate attention.

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Videos about Modena

https://youtu.be/5aV0osAEPCw

Taxation

Withholding tax:
It does not retain
Tax-friendly:
Yes
Model 720:
No
Income Tax Category:
Share capital
Tax certificate:
Yes
▸ Modena does not withhold taxes at source; therefore, you declare the interest yourself. In your account you have a financial income report for the declaration. According to Modena, declaring and paying taxes is your responsibility, and they do not advise you on them.
Learn more about model 720

Liquidity

Second-hand market:
Early exit:
Yes
Type of early exit:
Project/Total
Penalty for early exit:
No commission (instant cash-out with loss of accumulated interest)
Average loan term:
No Fixed Deadline
Time to settle:
Immediate; bank transfer in minutes – 1 day
▸ You can request the withdrawal of the Dynamic Vault without commission: Modena buyback the loans. Depending on its conditions, it can delay the withdrawal if many investors request to exit at the same time. The Fixed-Term Vault releases the money at maturity, unless you activate automatic renewal. There is no secondary market. Withdrawals are free.

Yield

Stated return:
Up to 11%
Self-investment:
Yes
Payment frequency:
Daily

Regulation

  • Unregulated
License:
Unlicensed
The platform does not have its own financial authorization nor is it subject to the supervision of a financial authority as an investment platform. There is also no compensation system in case of failure.
▸ Modena has no financial license; its activity is not supervised by a financial regulator. The company is called Modena Estonia OÜ, registered in Estonia with the number 14820592 and based in Tallinn. It has a consumer credit license since 2021; according to Modena, that license is for lending, not for investment, and does not protect investors. There is no system of investor compensation.
Learn more about regulation

Guarantees and risk mitigation

A) Type of guarantee
There are no assets or third-party guarantees securing the loan. The only means of recovery in the event of default is to make a claim directly against the borrower.
  • Without security
▸ The loans do not have a real guarantee in your favor. There is no guarantee of repurchase. Until 2026, Modena announced the buyback of loans with 35–90 days of delay; its current conditions no longer include this. If a borrower defaults, Modena manages the collection and any remaining amount reduces the value of your loans. The capital is not guaranteed.
B) Stress scenario
▸ Your uninvested funds are kept separate from those of the platform. According to Modena, your loans are yours and are not part of its bankruptcy estate, and the collection could be transferred to another company. Meanwhile, payments and withdrawals could be delayed or stopped, and the recovered amount could be less.
▸ If a borrower defaults, Modena claims the debt and can pass it on to collection agencies or the courts. There is no buyback: what is not recovered reduces the value of your loans. If many investors demand repayment at the same time, withdrawals could be delayed and paid out as the loans are collected.
C) Additional guarantees

The originator undertakes to buy back the loan from you if the borrower is more than X days in arrears, repaying you the principal and interest. This is subject to the originator remaining solvent.

Buyback

No

A financial buffer that the platform sets aside from its own commission to cover defaults before they affect you. Its effectiveness depends on its actual size relative to the total amount lent.

Reserve fund

No

The originator invests a portion of its own capital in the same loan or portfolio alongside the investors, thereby aligning its interests with those of the investors in ensuring that the loan is repaid in full.

Skin in the game

No

Your uninvested money is held in an account separate from the company’s balance sheet, at a bank or regulated payment institution. If the platform goes bankrupt, that money is not included in the distribution to its creditors.

Segregation of accounts

Yes
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InvantAPPs Summary

What is Modena?

Modena is the investment platform of Modena Estonia OÜ, an Estonian consumer credit company founded in 2019. It purchases consumer loans and payment deferrals granted by Modena itself, through two Vaults: one with on-demand withdrawal and the other with fixed term. It collects payments daily. Modena does not have a financial license; its activity is not supervised by a financial regulator. On our scale, Modena has a moderate risk.

https://youtu.be/5aV0osAEPCw

Modena Estonia OÜ was founded in 2019, is based in Tallinn, and offers consumer loans and payment deferrals. Its platform sells those loans: in practice, you buy the right to collect them. You don’t choose the loans; you deposit the money in the Dynamic Vault, with withdrawal on demand, or in the Fixed-Term Vault, which is released upon maturity. The repayments arrive every day.

There is no guarantee of a repurchase. Until 2026, Modena announced the buyback of loans with 35–90 days of delay; its current terms no longer include this. If a borrower defaults, Modena claims the debt and can pass it on to collection or the courts. What is not recovered reduces the value of your loans and your yield.

Modena has no financial license; its activity is not supervised by a financial regulator. Modena Estonia OÜ has a consumer credit license in Estonia; according to Modena, that license is for lending, not for investment, and does not protect investors. There is no system of investor compensation. Your uninvested funds are kept separate from those of the platform.

You can request the withdrawal of the Dynamic Vault without commission: Modena buyback the loans. According to its terms, if many investors request a withdrawal at the same time, it can delay it. There is no secondary market.

Its main risk is concentration: Modena grants the loans, sells them to you, collects them, and manages the platform. If it were to go bankrupt, collections and withdrawals could be delayed or stopped. According to Modena, your loans are yours and are not part of its bankruptcy estate, and collection could be transferred to another company.

Withdrawal of funds is free. Modena does not withhold taxes at source, and you have an income report for the tax return in your account.

We started investing in Modena in 2025. In our portfolio, Modena has a moderate risk. Its strength is simplicity: the money works daily and is withdrawn without commission. Its dependence on a single company limits its liquidity position to a small one.

Key points

Daily refunds and withdrawal without commission.
Balance without investing in a bank account dedicated to the platform.
No financial license and no buyback guarantee.
Everything depends on the solvency of a single company.
Two Vaults: one with withdrawal upon request and another with a fixed term.

Pros and cons

Daily refunds and withdrawal of the Dynamic Vault without commission.
Your uninvested funds are kept separate from those of the platform.
Modena Estonia OÜ publishes audited annual accounts and is supervised in Estonia as a consumer credit institution.
You can schedule monthly transfers of your earnings to your bank.
It has no financial license or compensation system for the investor.
Only one company grants, sells and collects all the loans, so everything depends on its solvency.
There is no buyback guarantee, so defaults reduce your yield.
At times of many requests, the withdrawal may be delayed.

Experience and social proof

Trustpilot

21 Reviews
4.6/5
See Review

ScamAdviser

0%
Trust score: 71/100
View Analysis
Updated: November 2026

Social media activity

🟡 Not very active
  • Twitter / X
⚪ No profile
  • Telegram
Private
  • YouTube
⚪ No profile
  • Instagram
⚪ No profile
  • Facebook
⚪ No profile

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Risk:
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Regulated:
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Risk:
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Regulated:
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Yield:
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Risk:
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Regulated:
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Frequently Asked Questions

Is Modena safe?

Modena has no financial license; its activity is not supervised by a financial regulator. There is no buyback of unpaid loans, and everything depends on the solvency of Modena Estonia OÜ. In our assessment, Modena has a moderate risk.

How much should I invest in Modena?

We recommend allocating between 3% and 5% of your crowdlending portfolio as a liquidity position. According to Modena, if many investors request withdrawals at the same time, the withdrawal may be delayed.

How to declare Modena's interests in the IRPF?

Interest is taxed as capital gains in the basis of the IRPF savings, with progressive rates depending on the bracket. Modena does not withhold taxes at source, so you declare the interest yourself. You can download a tax report from your account. If the 720 form applies to you, consult an advisor.

What happens if Modena closes down?

Your uninvested funds are kept separate from those of the platform. According to Modena, your loans are yours and are not part of its bankruptcy estate. The borrowers would still owe the money and collection could be transferred to another company, but payments and withdrawals could be delayed.

How do the Vaults in Modena work?

In the Dynamic Vault you can request withdrawals whenever you want and Modena buyback the loans. The Fixed-Term Vault releases the money at maturity, unless you activate automatic renewal. In both cases, the purchase is split into several installments for many loans.

What happens if a borrower from Modena doesn't pay?

Modena claims the debt and, if necessary, passes it on to collection agencies or the courts. Since there is no buyback, what is not recovered reduces the value of your loans. Dividing the money among many loans limits the effect of each default.

Contact and support

Email: info@modena.capital
Phone: +372 5804 2366
  • High accessibility
They provide service in Spanish:
No
Live chat:
No
Telegram:
No
Rating:
4/5
Response time:
1–3 days
Official FAQ:
See the FAQs

Corporate identity

Legal name:
Modena Estonia OÜ
Country of registration:
Estonia
Registration code:
14820592
Registered office:
Veerenni tn 38b, 10138 Tallinn, Estonia
Work email:
info@modena.ee

Regulation and equipment

Licence type:
Unlicensed
Management team
General Director
Oliver Matt
Director of Development
Mattias Mölder
Head of Technology
René Oruman
Verified profiles:
Yes
  • The information is taken from public sources and may not be up to date. Always check the official website.

About the author

Antonio Hernández – Founder of InvantApps

Antonio Hernández

Engineer, economist and founder of Invant APPs. I help you achieve financial freedom through smart investing and passive income.

About Me

Legal notice

Investing in crowdlending and crowdfunding involves risks, including the partial or total loss of the capital invested, and past performance is no guarantee of future results. The content on this site is for information purposes only and reflects our personal experience and opinion: it does not constitute financial or tax advice. Some links are affiliate links; the platform pays us a commission, which does not incur any cost to you nor does it influence our analysis.

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