Dluhopisomat - Risk and return review
Dluhopisomat - Returns and loss rates
Dluhopisomat – Platform statistics 2026
1254
investors
Dluhopisomat – Pros & Cons
About Dluhopisomat
What it is
Dluhopisomat is a Czech platform where private investors buy bonds issued by Czech companies. It is run by FUNDSTER a.s. in Prague, founded in 2022, and has worked as a licensed crowdfunding platform since 4 March 2025. Since then it has published 16 projects, investors have subscribed CZK 238.74 million and 1,254 investors are active (30 October 2026). From 2017 the same website ran as an unregulated listing of Czech bonds; the figures here cover only the licensed period. The website is in Czech.
How it works
You sign up with a Czech bank identity check, pass a short knowledge test and choose individual bond issues, from CZK 5,000. Each bond pays a fixed interest rate, monthly, quarterly or twice a year, into your account on the platform, and the amount you lent comes back at the end of the term, usually several years. Dluhopisomat gives every issue its own grade on a nine-step scale from A++ (best) to E and reviews it at least once a year. There is no automatic investing.
Returns
The platform advertises interest of up to 11% a year and states an average of 9.97% across the rates on offer (August 2026). These are agreed rates, not what investors actually received after delays or losses; no realised return is published. Czech private investors pay 15% tax on bond interest, so 10% interest is about 8.5% after tax. Since March 2025, CZK 15.63 million of interest has been paid to investors (October 2026).
Losses and defaults
The platform's own default rate was 0% for the only full year it can measure so far, 4 August 2025 to 3 August 2026, covering 7 bond issues worth CZK 265.5 million (a default means a company at least 90 days late or unlikely to pay). It measures by amount and says this is not the method EU rules prescribe. Its own forecast for the following twelve months, made on 1 January 2026, was 8.14%. In October 2026, 1 of the 16 projects was behind on payments; the platform does not name it. In 2026 one issue, the S-24 finance bonds linked to TV Barrandov at 11.2%, was publicly criticised: Dluhopisomat had graded it A+, while measured against the Czech National Bank's retail-investor risk method it scored as highly risky, and the issuer had CZK 864,000 of equity against a CZK 90 million target and unaudited accounts. The platform suspended the offer after CZK 37.6 million had been raised from 330 investors. No figures on recoveries are published.
What secures your money
Each bond issue usually has several layers of security: a mortgage on property, a lien on equipment or other assets, a personal guarantee from the owner and a guarantee from a related company. An independent security agent holds this security for all bondholders and can enforce it. There is no buyback and no reserve fund. The platform names the security but never says what it is worth, so you cannot see how much of your money it would cover. For you this means some real security behind each bond, but of unknown size.
Who runs it and its licence
FUNDSTER a.s. (Czech company number 17355354, Prague) received a European crowdfunding licence from the Czech National Bank by decision of 19 December 2024 (ref. 2024/141317/CNB/650). It covers placing bonds and passing on investors' orders. No sanction by the regulator has been found.
Fees
Investors pay nothing to sign up, hold an account or invest. The companies issuing bonds pay the platform; the amount is not published. Interest is taxed under Czech rules.
Getting your money out
There is no market to sell bonds to other investors. Your money comes back through interest payments and when the bond is repaid at the end of its term, which is usually several years away.
Our view
Return: High — up to 11% a year advertised, with an average of 9.97% across offers, but no realised return published. Risk: Low (higher means more risk) — the measured default rate is 0% and bonds carry several layers of security, but there is only one year of data, one of 16 projects is behind on payments, the security is never valued and one grading was publicly disputed. Risk-return: Low — with only advertised rates and a short record, the high rate is not yet backed by results.
Regulation
License / Regulation: Czech National Bank (ČNB): European crowdfunding service provider authorisation for FUNDSTER a.s. (IČO 17355354) under Regulation (EU) 2020/1503, decision of 19 December 2024, ref. 2024/141317/CNB/650 (file S-Sp-2024/000231/CNB/653). Covers placing without a firm commitment and reception and transmission of orders. The ČNB issues no separate licence number.
Functionality
For Investors
Useful Information
Yes. FUNDSTER a.s., which runs Dluhopisomat, received a European crowdfunding licence from the Czech National Bank by decision of 19 December 2024. The licensed platform started on 4 March 2025.
The platform says money waiting in your account is kept in a special account separated from its own assets under the Czech Banking Act. It does not name the bank.
CZK 5,000 per bond issue.
Bonds advertise up to 11% a year, 9.97% on average across offers; no realised return is published. The platform's default rate was 0% for 4 August 2025 to 3 August 2026, but in October 2026 one of its 16 projects was behind on payments. CZK 15.63 million of interest has been paid since March 2025.
Each issue usually has a property mortgage, a lien on other assets, the owner's personal guarantee and a guarantee from a related company, held by an independent security agent for all bondholders. The platform does not say what this security is worth, and there is no buyback or reserve fund.
No. There is no market to sell to other investors; your money comes back when the bond is repaid at the end of its term.
None. The companies issuing bonds pay the platform, an amount it does not publish. Czech private investors pay 15% tax on interest.
Your bond is a claim on the issuing company, not on the platform, so it remains if the platform closes. If an issuer fails, the security agent can enforce the security for bondholders; how much comes back depends on its value, which is not published, and on how long enforcement takes.
In 2026 the platform's A+ grade for these 11.2% bonds was publicly criticised: measured against the Czech National Bank's retail-investor risk method the issue scored as highly risky, and the issuer had CZK 864,000 of equity against a CZK 90 million target and unaudited accounts. Dluhopisomat suspended the offer after CZK 37.6 million had been raised from 330 investors.
