Information on the target
JetLend is the first and currently the only crowdfunding lending platform in Russia that has conducted an IPO. The company connects private and institutional investors with small and medium-sized enterprises (SMEs) to provide loans without the involvement of banks. Borrowers benefit from quicker access to necessary funds without the need for collateral, while investors can expect enhanced returns, with JetLend projecting potential annual yields of up to 35% by 2026.
Founded in 2018, JetLend has rapidly grown to capture a significant market share, reaching 45% within five years. The platform allows investors to lend money to SMEs, creating a source of passive income through interest payments. The interaction mechanism between borrowers and lenders is streamlined, with companies posting loan requests and undergoing a multi-factor creditworthiness assessment. Investors can select companies to fund and sign loan agreements electronically, with the platform generating revenue through commissions.
Industry overview in the target’s specific country
The crowdfunding lending industry in Russia has been evolving since the introduction of Federal Law No. 259-FZ in 2019, which regulates the sector. This legislation was crucial for establishing a framework for investment platforms, enabling oversight by the Central Bank of Russia. The market has seen significant growth, particularly from 2021 to 2024, with the number of active investors increasing more than tenfold during this period. However, the industry has faced challenges, including a rise in default rates to 10% due to issues with automated scoring systems.
Despite these challenges, JetLend has maintained a strong presence in the market, with a reported 257% increase in loan issuance in 2023. The company has adapted to the competitive landscape by reforming its risk model and expanding borrower criteria. As of 2025, JetLend's market share fluctuated between 25% and 30%, influenced by stricter lending requirements and increased competition from other crowdfunding platforms.
In July 2025, JetLend recorded a significant surge in financing requests, reaching a record of approximately 4.95 billion rubles. The company plans to initiate dividend payments in 2026, allocating 75% of its net profit to shareholders. This decision follows a successful financial year in 2025, marking a transition from previous years of losses to operational profitability.
The rationale behind the deal The rationale for JetLend's IPO was to capitalize on the growing interest in crowdfunding as an alternative investment vehicle in Russia. By going public, JetLend aimed to attract institutional investors and enhance i…