Trusters is an Italian platform, run in Milan by Trusters S.r.l., where you lend money to property developers for refurbishment and building projects in Italy. It has funded projects since 2019: 539 projects and €101.3 million in total (October 2026), and €83.1 million has been paid back to investors, capital and interest together. CrowdFundMe, the Italian crowdfunding group renamed Entera in June 2026, owns 58.325% of it. Everything is in Italian.
You choose a project and lend to the developer's company at a fixed rate. Current offers pay 11% a year for 12 to 18 months (October 2026). Interest and capital are usually paid back in one sum at the end, when the property is sold or refinanced. If a project runs late, it first gets a formal extension. There is no auto-invest. The public pages do not state a minimum investment.
On the 360 loans finished by 31 December 2025, investors earned 7.62% a year on average, weighted by amount and before Italian tax. This is a realised figure and already includes the loans that ended badly; it was 8.17% a year earlier. Loans repaid on time paid 10.19%, loans repaid during an extension 14.89% thanks to penalty interest, and loans that went more than 90 days past their extension lost 9.11%. The home page still shows an average gross return of 10.3%, a figure unchanged since December 2022. A newer report to 30 June 2026 is shown only after login.
Losses on finished loans are small but delays are common. About 1.8% of the money lent on finished loans was not repaid (€1.11 million of €62.8 million, calculated from the platform's own figures, 31 December 2025). But of all finished projects, 63 of 414 (16.6% of the money) went more than 90 days late beyond their extension or defaulted (October 2026). Only one company default is recorded (€200,000, nothing recovered). Among running loans, 18 projects worth €3.40 million (13.2% of the money) were more than 90 days late beyond their extension in October 2026, and 13 more were in an extension; at the end of 2025 such loans were on average 23 months late. Projects funded in 2023 were the worst: 24 of 78 went more than 90 days late.
Most loans are not backed by a mortgage on the property, and the platform states that the money lent is not guaranteed by anyone. When developers ran late, investors depended on negotiated settlements and legal action, which got back 90.9% of the money on 53 finished late loans; the one formal default returned nothing. Since 2025 Trusters asks for real security (mortgages or mortgage-backed promissory notes) when it grants extra extensions, and a guarantee of up to 80% from the credit guarantee body Fidit is offered on some projects. Borrowers get an independent credit rating from Cerved; no loan-to-value limits or valuation rules are published. There is no buyback or reserve fund. In plain words: you take each developer's credit, with security only on some loans.
The operator is Trusters S.r.l. (Milan, VAT no. 10128020962, founded in 2017). Consob, Italy's market regulator, authorised it as a European crowdfunding service provider for loan intermediation on 6 December 2023 (resolution no. 22918). It is a small company: three employees, share capital of €44,794, and a net loss of €54,659 on revenue of about €1 million in 2024. Its majority owner, CrowdFundMe (now Entera), also made a loss in 2025.
Investing is free: the platform's terms state that no fee is due from the investor, because Trusters is paid by the developers. What developers pay is not published. Interest is taxed in Italy.
There is no secondary market or bulletin board: the terms warn that selling a loan to someone else may be very hard or impossible. Your money comes back only when the developer repays, often later than planned. You can cancel an investment order within four days. Public review score 4.2 out of 5 (259 reviews, August 2026).
Return: Low — finished loans paid 7.62% a year on average (end of 2025), well below the 10.3% still shown on the home page. Risk: High (higher means more risk) — realised losses so far are about 1.8%, which on its own reads medium, but we rate it one step worse because about one euro in six of finished loans went more than 90 days late, most loans are unsecured, and the headline return is out of date. Risk-return: Very Low — a low return for a high level of risk.
License / Regulation: Trusters S.r.l. is authorised by Consob, Italy's market regulator, as a European crowdfunding service provider under Regulation (EU) 2020/1503, for intermediation in the granting of loans (resolution no. 22918 of 6 December 2023). No deposit guarantee or investor compensation scheme covers the loans.
Yes. Consob, Italy's market regulator, authorised Trusters S.r.l. as a European crowdfunding service provider for loans on 6 December 2023 (resolution no. 22918). No compensation scheme covers your loans.
CrowdFundMe, the listed Italian crowdfunding group renamed Entera in June 2026, owns 58.325% of Trusters. Trusters is the group's property-lending business, has its own licence, and its results are published in a twice-yearly report on CrowdFundMe's site.
Lemonway, a French payment institution authorised by the ACPR. You get a payment account in your name, kept separate from Lemonway's own assets. Once lent, your money is with the developer's company.
The public pages and terms do not state a general minimum. Non-sophisticated investors with a basic profile are limited in how much they can put into one project.
Finished loans paid 7.62% a year on average (end of 2025), including those that ended badly. About 1.8% of the money lent on them was lost, but 16.6% of the money in finished projects went more than 90 days late beyond the extension or defaulted (October 2026).
Usually nothing specific: most loans have no mortgage and the platform states the money is not guaranteed. Late loans were settled or pursued in court, recovering 90.9% on 53 finished cases. Since 2025 real security is asked for extra extensions, and a guarantee of up to 80% is offered on some projects. There is no buyback or reserve fund.
No. There is no secondary market or bulletin board. You can cancel an order within four days; after that your money returns only when the developer repays, often late.
None to Trusters: its terms state that no fee is due from the investor, as developers pay the platform. Interest is taxed in Italy.
If a developer fails, you share in what can be recovered, which can take years; the one formal default so far returned nothing. If Trusters fails, cash in your Lemonway account is kept apart, but collecting the loans would depend on whoever takes over. Trusters is small, with three employees and a 2024 loss.
