WinWinner - Risk and return review
WinWinner - Returns and loss rates
WinWinner – Platform statistics 2026
19000
investors
WinWinner – Pros & Cons
About WinWinner
What it is
WinWinner is a Belgian platform, based in Ghent, where Belgian investors lend money to Belgian small and medium-sized companies. It is run by WinWinner Crowd BV, founded in 2019, and has held an EU crowdfunding licence from Belgium's financial regulator, the FSMA, since 4 July 2023. Its home page says more than 19,000 Belgians have lent over €80 million to more than 500 companies (undated, read 30 October 2026).
How it works
There are three kinds of loan. The main one, the Crowdlening, is WinWinner's own loan: from €500, for one to five years, repaid each year or in one go at the end. The other two are regional schemes with tax benefits: the Winwinlening (Flanders) and the Proxilening (Brussels), from €2,500, for five to ten years. WinWinner gives each company an internal grade (A, B or C), but the grade is not shown on the project cards.
Returns
WinWinner advertises fixed interest of up to 10% a year on the Crowdlening; its pages give ranges of 6% to 10%, 7% to 10% and 8% to 10% (October 2026). This is before Belgian withholding tax of up to 30%. The Winwinlening and Proxilening pay 4.50% a year, plus a yearly tax credit (2.5%, or 4% in the first three years for the Proxilening). WinWinner publishes no figure for what investors actually earned after defaults.
Losses and defaults
WinWinner publishes a yearly default rate under the EU crowdfunding rules. A loan counts as defaulted when it is more than 90 days late or full payment is unlikely without enforcement. In 2025, 7.81% of loans defaulted (1,019 of 13,054 loans at the start of the year, as of 31 December 2025). The rate has risen: 1.70% in 2022, 4.99% in 2023, 9.53% in 2024. The five-year average is 5.47%. By grade, A loans defaulted at 0.09%, B at 9.57% and C at 7.49%. These figures count loans, not euros, and no recoveries are published, so the actual money lost is not known. Public investor reviews from September 2024 and January 2026 describe capital lost when a funded company went bankrupt soon after its campaign, and poor communication afterwards.
What secures your money
The Crowdlening has no security. It is also subordinated: if the company fails, banks and other preferred creditors are paid before you. There is no buyback, no reserve fund and no insurance. Only the lower-rate Winwinlening and Proxilening carry a one-off government guarantee of 30% of the amount still owed. No recoveries from failed loans are published. For you this means that if a company on a Crowdlening fails, you are likely to lose most or all of that loan.
Who runs it and its licence
The operator is WinWinner Crowd BV, enterprise number 0723.682.356, Oudenaardsesteenweg 21, 9000 Ghent. It was founded on 25 March 2019 as a cooperative and became a private limited company on 29 November 2022. The FSMA lists it as a crowdfunding service provider licensed under EU Regulation 2020/1503, effective 4 July 2023. No regulatory action against it was found.
Fees
Investors pay no platform fees: no entry, transaction, administration or management fee. The borrowing company pays a fee on the amount raised (7% up to €100,000, 6% up to €250,000 and 5% above).
Getting your money out
There is no secondary market and the loans cannot be transferred, so your money is tied up until each loan is repaid. You may demand early repayment only if the company is three months behind on payments or insolvent.
Our view
Return: High — up to 10% a year advertised on the main loan, with no measured result published. Risk: High (higher means more risk) — the platform's own default rate of 7.81% in 2025 would give Medium on its own; we set it one step higher because the loans are unsecured and rank behind banks, the rate is up from 1.70% in 2022 to 9.53% in 2024, then 7.81% in 2025, with no recovery figures. Risk-return: Low, held at Low because only an advertised rate is known — a high advertised rate does not clearly make up for the high default rate.
Regulation
License / Regulation: FSMA (Belgium), crowdfunding service provider licensed under Regulation (EU) 2020/1503, effective 4 July 2023. The FSMA shows no separate licence number; the register key is enterprise number 0723.682.356 (WinWinner Crowd BV).
Functionality
For Investors
For Fund Seekers
Useful Information
Yes. WinWinner Crowd BV is licensed by the FSMA, Belgium's financial regulator, as a crowdfunding service provider under the EU crowdfunding rules, effective 4 July 2023.
Online Payment Platform B.V., a Dutch payment institution supervised by De Nederlandsche Bank, in a separate account for each project. WinWinner itself does not hold investors' money.
€500 for the Crowdlening and €2,500 for the tax-supported Winwinlening and Proxilening.
Up to 10% a year is advertised on the Crowdlening, before up to 30% withholding tax; the tax-supported loans pay 4.50% plus a tax credit. No realised return is published. The platform's own default rate was 7.81% of loans in 2025 and 9.53% in 2024; recoveries are not published.
On the Crowdlening, nothing: the loans are unsecured and rank behind banks if the company fails, with no buyback, reserve fund or insurance. Only the Winwinlening and Proxilening carry a one-off government guarantee of 30% of the amount still owed.
No. There is no secondary market and loans cannot be transferred. You can demand early repayment only if the company is three months behind or insolvent.
None. WinWinner charges investors no entry, transaction, administration or management fee; the borrowing company pays 5% to 7% of the amount raised.
Only Belgian residents aged 18 or over and Belgian companies. The site is in Dutch.
If a company fails, Crowdlening investors rank behind banks and other preferred creditors and may lose most of their money. If WinWinner failed, the money held for each project stays with the payment institution, and EU crowdfunding rules require a licensed platform to have a plan for running existing loans if it stops operating.
Regional schemes for Flanders and Brussels: loans of five to ten years at 4.50% a year, with a yearly tax credit on the amount still owed and a one-off government guarantee of 30%.
