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Exporo is a German real-estate crowdfunding platform based in Hamburg and running since December 2014. Private investors lend money to property developers and, since 2023, to builders of solar installations. Its licensed operating company has held an EU crowdfunding licence from BaFin, Germany's financial regulator, since 5 December 2023.
The home page shows €1.17 billion placed across 600 projects and €800 million paid back to investors (undated, read October 2026). The record behind those figures is mixed: about 30% of the repayments from 2014 to 2023 were late, restructured or lost in insolvency, and a German court is hearing a model case over one older funding.
You choose projects one by one, from €500 per project (club deals from €50,000), for 12 to 36 months at a fixed rate. There are two loan types. Whole loans pay 7.0% to 8.0% a year and rank first on the property, at 60% to 75% of its value. Mezzanine loans pay 7.5% to 9.0% and rank second, at 70% to 85%. Solar construction loans pay 7% to 8.5%. The developer repays when it sells or refinances the property. The site is in German only.
Before December 2023 Exporo sold subordinated loans, which rank behind all other lenders, and a rental-property product (Exporo Bestand) with terms of seven to ten years. Many investors still hold these.
The only measured return Exporo has published is 5.9% a year, the average actually earned on all completed financing projects, published on 12 October 2021; a December 2022 review put it at about 6%. It counts only finished projects, so it leaves out delayed and failed ones, and it comes from before the property downturn of 2023 and 2024. The headline today is "up to 9%" a year, which is a rate on offer, not a result.
The rental product paid out an average of 4.0% a year across 42 projects (statistics for 2014 to 2023). Independent tracking of that product points to all 38 offerings examined falling short of their projections, the worst at about minus 11% a year (June 2025).
Exporo's official default rate under the EU crowdfunding rules is 0%, but it says little. It covers only the loans made since the licence at the end of 2023, it is dated June 2025 although the page was updated on 17 August 2026, and when it was first measured none of these loans had yet fallen due. Delays caused by permits, supply chains or weather are not counted as defaults. No yearly rates for earlier years are given.
For the older book, the platform's statistics show that about 70% of repayments between 2014 and 2023 came on time or early (on average 102 days early). The other 30% were delayed, restructured or ended in insolvency; Exporo gives no split and no figure for money lost or recovered. Project companies have gone insolvent, most recently Limespark in March 2025, and in one documented insolvency investors got back 2.6% of their money.
Loans made since December 2023 are secured on the financed property. Whole loans rank first, at no more than 60% to 75% of the property's value; mezzanine loans rank second, behind another lender, at up to 85%. A trustee holds the security for investors and enforces it if a developer fails. There is no buyback, reserve fund or first-loss share kept by the platform.
The older subordinated loans and rental bonds have much weaker protection, and Exporo has never published how much investors recovered when projects failed. In plain words: a first-rank charge on a property at no more than three-quarters of its value is solid security, but it is untested on this platform, because almost none of the new loans has yet been repaid or enforced.
The licensed company is EPH Investment GmbH in Hamburg (commercial register HRB 146341), authorised by BaFin as a crowdfunding service provider under the EU rules since 5 December 2023 and as a securities institution since 21 December 2017. The parent company, Exporo AG, runs the website under a trade permit only and holds no financial licence.
In July 2025 the Hanseatic Higher Regional Court in Hamburg opened a model case for investors in the €2.5 million "Am Hamburger Stadtpark" funding, who say the sales documents were misleading; a court had already ordered Exporo to pay damages over another investment in 2022. Investments are not covered by deposit guarantee or investor compensation schemes.
Using the platform is free for investors; developers pay Exporo's fees. Custody costs for tokenised securities are paid by the licensed company. Details for each project are on its own page.
Your money is committed until the developer repays, after 12 to 36 months or later if the project is delayed. There is no market to sell the current loans, and the terms say resale of tokenised bonds is severely limited and may only be possible well below face value. Older rental-product holdings can be traded on the sister platform PROPVEST, where independent tracking points to prices about 25% below face value with few buyers (May 2026). Until a project is fully funded, your money is held by the payment institution secupay AG and comes back if funding fails.
Return: Very Low — the only measured return is 5.9% a year on completed projects, published in 2021; today's rates of up to 9% are offers, not results. Risk: Low (higher means more risk) — the official default rate on loans made since the 2023 licence is 0%, but we move it one step worse because that figure is from June 2025, covers only young loans, and nothing is published on losses or recoveries from older projects that failed or went to court. Risk-return: Low — a modest measured return, and the risk of the older book is not visible in the figures.
License / Regulation: EPH Investment GmbH (Hamburg, HRB 146341) is authorised by BaFin, Germany's Federal Financial Supervisory Authority, as a crowdfunding service provider under Regulation (EU) 2020/1503 since 5 December 2023, and as a securities institution since 21 December 2017. The parent, Exporo AG, operates the website under a trade permit and holds no financial licence. Investments are not covered by deposit guarantee or investor compensation schemes.
Yes. EPH Investment GmbH, the company you invest through, is authorised by BaFin as a crowdfunding service provider under the EU rules since 5 December 2023 and as a securities institution since 2017. The parent company, Exporo AG, holds no financial licence. Investments are not covered by deposit guarantee or investor compensation schemes.
Until a project is fully funded, the payment institution secupay AG holds your money and returns it if funding fails. After that it is lent to the developer, and a trustee holds the security for investors.
€500 per project; club deals start at €50,000.
The only measured return is 5.9% a year on completed projects (published 2021). The official default rate for loans since the end of 2023 is 0% as of June 2025. For 2014 to 2023, about 30% of repayments were late, restructured or lost in insolvency, and no figure for money lost or recovered is published.
Loans since December 2023 are secured on the property: whole loans rank first at no more than 60% to 75% of its value, mezzanine loans rank second at up to 85%. A trustee enforces the security if a developer fails. There is no buyback or reserve fund, and older subordinated loans rank behind other lenders.
No. There is no market for the current loans; you wait until the developer repays after 12 to 36 months, or longer if the project is late. Older rental-product holdings can be traded on the sister platform PROPVEST, at reported discounts of about 25%.
Using the platform is free for investors; developers pay Exporo's fees.
If a developer fails, the trustee enforces the security, which can take years; one documented insolvency returned 2.6% of investors' money. Your loans are owed by the developers, not by Exporo, and the security is held by a trustee; the platform does not describe how loans would be serviced if it failed.
In July 2025 the Hanseatic Higher Regional Court in Hamburg opened a model case for investors in the €2.5 million "Am Hamburger Stadtpark" funding, who say the sales documents were misleading. A court had already ordered Exporo to pay damages over another investment in 2022.
With the EU licence, Exporo moved from subordinated loans, which rank behind all other lenders, to loans secured on the property, many with first-rank security. Almost none of the new loans has yet been repaid, so the improvement is not yet proven.
