Klear Lending has carved a niche in Southeast Europe as a transparent, ethical, and data-driven peer-to-peer lending platform. By combining automated credit scoring, borrower education, and retail investor opportunities, Klear aims to reshape the lending landscape in Bulgaria and beyond.
We spoke with Diana Krumova, co-founder and CEO, to explore how Klear differs from traditional lenders, what makes its model sustainable, and how it’s expanding the P2P ecosystem responsibly in emerging European markets.
Who is Diana Krumova?
Diana Krumova is a fintech entrepreneur with more than two decades of experience in consumer lending, credit risk, and financial innovation. Before launching Klear, she held executive roles at BNP Paribas Personal Finance. She is also a financial literacy advocate and an early supporter of open, ethical lending practices in Central and Eastern Europe.
Interview
What is Klear Lending in one sentence?
Klear is a peer-to-peer lending platform that connects responsible borrowers with individual investors, based on transparent risk scoring and fair interest rates.
What was the original motivation behind Klear?
We saw too many people trapped in predatory lending cycles in Bulgaria. Our goal was to offer an alternative built on fairness, data, and community trust.
Who are your typical borrowers?
Salaried individuals with clean credit histories who need small-to-medium personal loans — often to consolidate debts or fund life events.
And who are the lenders?
Retail investors and financially-savvy individuals across Europe, mostly in Bulgaria, Germany, and Austria, who want stable fixed-income returns.
How does Klear make money?
We earn fees on successful loan originations and investor platform access. We don’t profit from borrower misfortune or late penalties.
What are your credit scoring methods?
We use a mix of bureau data, behavioral models, and proprietary AI algorithms to assess creditworthiness — continuously refined using repayment data.
What makes Klear different from banks or payday lenders?
We focus on transparency. Borrowers get clear APRs and no hidden fees. Investors see risk categories and historical performance. We don’t profit from defaults.
Do you hold a financial license?
Yes, we are a licensed non-banking financial institution under Bulgarian law and follow EU consumer credit rules. Our P2P model is also MiCA-conscious.
Is Klear regulated as a crowdfunding platform under ECSPR?
We are preparing for full ECSPR alignment. Our current framework fits under Bulgaria’s local lending license, but we’re upgrading to passport across the EU.
What’s your average interest rate for borrowers?
Typically between 6% and 11% APR depending on risk band and term length. Lower than credit cards or payday loans.
And returns for investors?
Net returns after fees and defaults average 5%–7% annually — attractive in a low-yield environment.
How do you manage default risk?
We have a strict borrower approval process, and we offer a secondary market for investors to sell loans. We also have risk mitigation funds for some loan types.
What’s the minimum investment amount?
As little as €50. Investors can diversify across hundreds of borrowers via auto-invest tools.
Is Klear profitable?
We’ve been EBITDA-positive since 2023. Our growth is sustainable, and we’ve never raised VC — we’re 100% founder-owned.
What are your growth plans for 2025?
Expanding into Romania, launching a mobile-first investor app, and enabling multi-currency portfolios.
What tech stack do you use?
Mostly open-source: Python, Django, React, PostgreSQL — all hosted in GDPR-compliant EU cloud environments.
How do you ensure ethical lending?
We refuse to lend to high-risk or over-indebted borrowers. Every user has access to educational materials and debt budgeting tools.
What KPIs matter to you most?
Default rates, investor NPS, average loan duration, and reinvestment rates. We also track financial literacy engagement.
Do you collaborate with banks or EMIs?
Yes. We partner with licensed EMIs for IBAN infrastructure and Open Banking APIs to verify income and expenses.
What’s your long-term vision for Klear?
To become Southeast Europe’s most trusted retail lending platform — responsible, profitable, and community-first.
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FAQ
Is Klear Lending available outside Bulgaria?
Yes, investors from across the EU can use the platform. Borrowers must be Bulgarian residents (for now).
Is it safe to invest in Klear loans?
All investments carry risk, but Klear provides scoring, diversification tools, and secondary markets to manage that risk.
Can you withdraw funds anytime?
Loans are fixed-term, but investors can sell their notes on the secondary market for early liquidity.
Does Klear support crypto or tokenized lending?
No. We focus on fiat-based ethical lending. However, we watch tokenized finance closely for future applications.
Company Services
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Peer-to-peer lending
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Auto-invest portfolio tools
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Credit scoring and risk banding
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Financial education resources
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Debt consolidation loans
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Secondary loan market
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Open Banking income verification
Competitors
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Bondora – Strong EU presence but less transparent
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Mintos – Large marketplace but includes non-consumer loans
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PeerBerry – High yields but riskier asset classes
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Lendermarket – Good diversification, but not Bulgaria-focused
Product Positioning
Klear positions itself as:
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A transparent alternative to high-interest credit
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Ethical, regulated, and fair to both sides
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A long-term income option for small investors
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A locally-built platform with pan-European ambitions
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A tech-driven and human-centered approach to lending
