Raize - Risk and return review
Raize - Returns and loss rates
Raize – Platform statistics 2026
Raize – Pros & Cons
About Raize
What it is
Raize is a Lisbon platform where individuals lend to Portuguese small and medium-sized businesses. It has run since 2015 and lent €116.2 million across 4,425 loans up to 31 December 2025, of which €19.0 million in 2025 alone; €28.1 million was still out on loan at the end of 2025. The parent company is listed on Euronext Access Lisbon. Since June 2026 Raize also offers grouped bonds of small businesses that carry a public guarantee from Banco Português de Fomento.
How it works
You choose loans yourself or use an auto-invest tool (for non-professional investors it starts after a four-day reflection period). Loans run 6 to 72 months, 43 months on average for loans made in 2025, and are repaid in monthly instalments of capital and interest. Raize grades each borrower from A to C and sets the rate by grade; loans made in 2025 paid 7.02% a year on average. Raize says the average company it funds is 11 years old.
Returns
Raize publishes what investors actually earned: 5.9% a year on average since 2015 after loans that could not be collected, or 89.7% in total, across all loans (to 31 December 2025; its audited 2025 report gives the same figure). That is before Portugal's 28% tax, which is deducted at source and brings it to about 4.25% a year (our calculation). Raize does not say whether its 10% to 12% commission on interest is already taken off. The figure has been steady: 5.86% a year to the end of 2024.
Losses and defaults
Raize publishes a default definition (more than 90 days late, or court enforcement) and yearly tables by volume and by number of loans. In 2025, 0.17% of the loans performing at the start of the year defaulted (€47,467 of €28.4 million; 0.74% by number), after 3.60% in 2024 and 1.55% in 2023. Money written off as uncollectible was 0.44% in 2023, 0.23% in 2024 and 0.00% in 2025, an average of 0.22% a year (calculated from the platform's own figures). Two of its own sources differ on 2025: the statistics page shows no write-offs, the annual report about €55,500. By number of loans, 2025 defaults in some grades were above Raize's own forecast. These are yearly figures for the performing book, not lifetime losses, and no recovery figure is published.
What secures your money
Most loans are unsecured, but are usually backed by personal guarantees from the company's owners or managers; some credit lines carry a mutual guarantee scheme, and the bond issues since June 2026 a public guarantee. There is no buyback and no reserve fund. When a borrower stops paying, Raize runs recovery through specialist third parties, in and out of court, but does not publish what comes back. In practice your protection is the borrower's own strength, its owners' guarantees and spreading your money over many loans; losses so far have been small.
Who runs it and its licence
The platform is operated by Raizecrowd, Lda, which Portugal's securities regulator (CMVM) authorised as a crowdfunding service provider under the EU rules on 8 February 2024. Its parent, Raize – Instituição de Pagamentos, S.A., is a payment institution supervised by the Bank of Portugal (number 8711) and is listed on Euronext Access Lisbon. The Bank of Portugal fined the parent €70,000 for offences in 2021-2022; the fine was paid in 2025. Its 2025 accounts were audited without qualification, with an emphasis on a VAT dispute with the tax authority over about €333,000. Ownership is changing: shareholder Flexdeal is moving to majority control after a capital injection in February 2026.
Fees
Raize takes a commission of 10% (INVEST plan) or 12% (ACCESS plan) of the gross interest you receive each month, VAT included. It was introduced on 15 November 2020 and also applied to loans already funded, which investors still complain about. Selling on the secondary market costs 1% of the amount sold on ACCESS and is included on INVEST. Opening and keeping an account is included in both plans.
Getting your money out
You can sell loans to other investors on Raize's secondary market at up to 3% below face value. Raize reports €29.6 million traded and an average sale time under a day for positions below €200. Loans already in default are in practice hard to sell, because the 3% cap does not allow a big enough discount. A public complaints site shows recurring complaints about delayed withdrawals and transfers (score 51.8 out of 100, August 2026).
Our view
Return: Very Low — 5.9% a year actually earned after losses, before tax. Risk: Low (higher means more risk) — written-off losses have averaged 0.22% a year over 2023-2025, with clear published definitions, which alone would be Very Low; we set it one step worse, at Low, because of complaints about withdrawals, the commission change and changing ownership, despite its strong disclosure. Risk-return: Low — a very low return, 5.9% a year after losses, for a low level of risk.
Regulation
License / Regulation: Raizecrowd – Serviços de Informação e Tecnologia, Lda is authorised by Portugal's Comissão do Mercado de Valores Mobiliários (CMVM) as a crowdfunding service provider under Regulation (EU) 2020/1503, since 8 February 2024. Its parent, Raize – Instituição de Pagamentos, S.A., is a payment institution authorised and supervised by the Banco de Portugal (number 8711), listed on Euronext Access Lisbon.
Functionality
For Investors
Useful Information
Yes. Its platform company, Raizecrowd, was authorised by Portugal's securities regulator (CMVM) under the EU crowdfunding rules on 8 February 2024. The parent is a payment institution supervised by the Bank of Portugal (number 8711) and is listed on Euronext Access Lisbon.
Your cash sits in a payment account at Raize – Instituição de Pagamentos, the group's payment institution supervised by the Bank of Portugal. It is not covered by the Portuguese Deposit Guarantee Fund.
Raize's own pages we could read do not state a minimum per loan; the auto-invest tool needs at least €5 available in your account to place an order.
Investors earned 5.9% a year on average since 2015 after uncollectible loans (to 31 December 2025), before 28% tax. Write-offs averaged 0.22% a year over 2023-2025, and the 2025 default rate was 0.17% of the performing book, after 3.60% in 2024.
Most loans have no security over assets but are backed by personal guarantees from the company's owners or managers; the bond issues since June 2026 carry a public guarantee from Banco Português de Fomento. There is no buyback or reserve fund, and Raize does not publish how much it recovers from defaulted loans.
Yes, on Raize's secondary market, at up to 3% below face value; small positions usually sell within a day. Loans in default are hard to sell because of the 3% limit. The sale fee is 1% on the ACCESS plan and included on INVEST.
10% (INVEST) or 12% (ACCESS) of the gross interest you receive each month, VAT included, plus 1% to sell on the secondary market on ACCESS. Portugal also withholds 28% tax on interest.
If a borrower fails, Raize pursues the company and its guarantors through specialist recovery firms; you bear what is not recovered. If Raize failed, the loans remain claims of the investors on the businesses, but collection would have to be taken over; no compensation scheme covers your loans.
Not clearly. The terms do not exclude other EU residents, but the site, documents and tax handling are built for Portugal, and non-residents are simply told to consult an adviser. Ask Raize before you open an account.
