6166
investors
Fintown is a Czech P2P real-estate platform launched in February 2023 and operated by Fintown s.r.o., a member of the Vihorev Group — a Prague-based developer active in the Czech residential market since 2014. The platform's defining feature is its single-sponsor model: every project listed is developed and partially co-financed (average 20–31% skin-in-the-game) by Vihorev Group, with each loan structured as mezzanine debt subordinated to a senior loan from either Česká spořitelna or UniCredit Bank.
Two core products are offered. The Rental product funds operating short-term-rental apartments under the Honest Apartments brand (8–12% p.a., daily accrual, monthly payouts, exit after the minimum term). The Development / Bullet product funds construction or acquisition projects at 10–15% p.a., with interest and principal repaid per the project schedule (monthly, quarterly or at maturity); no early exit. Active projects include Honest Karlín, Honest Říčany and Michle (all Prague) and "The Seed" development in Uvita, Costa Rica.
Self-reported volumes (fintown.eu, May 2026): €27,000,000 funded across 220+ projects with 5,900+ registered investors. Vihorev Group's wider portfolio includes 472 units / 25,958 m² across completed, operating, under-construction and in-preparation projects with a total Gross Development Value of €82.77m.
Unique selling points: single integrated sponsor (developer + platform operator), daily interest accrual visibility, monthly payouts on Rental product, Early Exit 2.0 program for Rental liquidity, VIP Club rate bonuses for larger portfolios, 10-language site, 4.6/5 Trustpilot score (214+ reviews), no investor fees, and a public Power BI statistics dashboard.
Key risks investors should weigh: the platform is unregulated, there is no auto-invest, no traditional secondary market, no buyback guarantee, and total concentration in a single developer group and (largely) a single city. Operating history is short (since Feb 2023), so the reported 0% default rate reflects a young, undiversified portfolio.
Target investors: EU-based retail investors seeking monthly-paying real-estate yield exposure to the Prague market who are comfortable with concentration and platform risk.
Rental projects: each property is operated under Vihorev's Honest Apartments brand and rented short-term via Airbnb / Booking.com. Vihorev.Investments SE receives fixed monthly payments from the operating entity (Honest Apartments) sufficient to cover Fintown loan interest regardless of short-term occupancy swings; Fintown then distributes interest to investors monthly. Each asset is required to be insured (insurance contracts are a condition of disbursement) and a senior bank loan ranks ahead of Fintown — meaning every asset has already been independently appraised and is continuously monitored by a regulated bank.
Development projects: disbursement is staged against milestones (building permit, contractor agreements, etc.). Fintown can refuse, suspend or reduce the next drawdown if covenants are breached, and project risk is isolated in a Project Company structure. The loan documentation includes a Notarial Deed for Direct Enforceability, allowing Fintown to enforce against the developer via a bailiff without prior court proceedings.
Ongoing reporting to investors: project-level updates via the dashboard plus quarterly investor reports (Spring / Summer / Autumn / Winter) and annual reports (Fintown and Vihorev Group consolidated). Power BI public dashboards publish portfolio-level statistics.
Investors do not become direct creditors of the developer. Fintown s.r.o. originates the mezzanine loan to Vihorev.Investments SE; investors acquire "participation" rights — a Czech-law contractual right to a proportional share of the income and losses of that single loan. The investor's counterparty is Fintown s.r.o.; there is no direct legal relationship between the investor and the developer.
In the event of default, Fintown will (in order) demand a contractual penalty, accelerate the full loan, attempt an amicable workout, or pursue court enforcement via the Notarial Deed for Direct Enforceability and Acknowledgement of Debt. Fintown may also sell the claim to a third party or reach a court settlement / mediation agreement. In suspected-fraud cases, Fintown may notify law-enforcement authorities. As of May 2026 no loan has entered default or recovery on the platform.
• Maxim Vihorev – Founder. Czech-domiciled real-estate developer with 20+ years in the Prague residential market. Master's in Law (Charles University) and bachelor's in Business Administration (Prague University of Economics). Active in Prague residential development since 2014; 5 completed projects, 3 in development.
• Vladislav Siganevic – Co-founder. Fintech operator with prior leadership roles at Creamfinance (now AvaFin), where he led the company onto the Inc.5000 Europe ranking. Active European P2P investor since 2012 and real-estate investor since 2015.
• Oleksii Zhytkov – CMO. Master's in Finance; ex-Genesis (Ukraine) and ex-India fintech marketing leadership; joined Fintown in 2022.
• Aleksey Galochkin – CTO. Bachelor's in Computer Sciences (Odessa State Polytechnic). Background in payment-acceptance and online-payment systems since 2007; CPO for payment systems prior to joining Fintown.
Two main products:
1) Rental – mezzanine loan to operating short-term-rental apartments (Honest Apartments brand). Daily interest accrual, monthly interest payouts, withdrawal possible after the project's minimum term (typically 12–24 months). Advertised interest 8–12% p.a.
2) Development / Bullet / Quarterly Bullet – mezzanine loan to finance construction or acquisition. Interest paid monthly, quarterly or at maturity depending on the project; principal repaid at maturity; no early exit. Advertised interest 10–15% p.a.
Fintown does not charge any platform fees to investors — no deposit, investment, withdrawal or management fees. Investors pay only third-party bank costs that may apply to incoming or outgoing SEPA transfers.
Operational fees (not platform fees, applied to compensate processing costs):
• €20 fee on incoming transfers made in a currency other than EUR (per p2pempire.com).
• €10 fee on deposits with an incorrect or missing reference code (per p2pempire.com).
• Early Exit 2.0 (Rental product) — exit fee per the published Early Exit schedule.
Taxes: interest is paid gross — Fintown does not withhold any tax. Investors are responsible for declaring and paying income tax in their country of tax residence.
Fintown does not source third-party developers. Every project on the platform comes from a single related-party borrower — Vihorev.Investments SE (Vihorev Group). "Due diligence" therefore combines Vihorev's own internal underwriting with three external checkpoints:
1) Senior bank credit appraisal. A regulated bank — Česká spořitelna or UniCredit — must first underwrite a senior loan on the same project. Fintown only lends as mezzanine if a bank is already willing to participate, which acts as an independent third-party credit screen.
2) Legal review by Fintown's in-house team: building permits, insurance contracts, intercreditor agreement subordinating Fintown's claim to the senior lender, and a Notarial Deed for Direct Enforceability and Acknowledgement of Debt.
3) Pre-disbursement assessment of the developer's financial situation; Fintown can refuse, suspend or reduce disbursement on covenant breach.
Per-project metrics published: LTV, LTC, ICR, DSCR, Debt Yield, NOI, ROIC, IRR, capital structure, and (for rentals) ADR, RevPAR, WAULT, occupancy. No external rating agency is involved and Fintown does not assign a single risk grade.
