Maclear Business lending Financé

Ce projet est clôturé. L'analyse ci-dessous reflète les informations disponibles au moment de la souscription et n'a pas été mise à jour.

Westlip Credit

Avoid

score / 100

Yield

16.9%/yr

Duration

6 months

Min. ticket

—

Amount raised

50 k€

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À propos

Loan of €50,000 to Westlip Credit Ltd, a non-bank digital lender licensed by the Central Bank of Kenya, operating in consumer credit, SME credit and factoring since December 2025. The company has 6 months operational history, a portfolio of €1.1M disbursed and near achievement of operational break-even. This €50K tranche is part of a total external financing programme of €4.05M.

Plateforme · 9.0/25

A1 · Statut réglementaire 3.0/8faible

Swiss platform, outside AMF/agrément AMF/ECSP
SRO supervision PolyReg (self-regulation) with FINMA as ultimate backstop
Functional equivalent but inferior to agrément AMF/ECSP or FSC/BaFin licence
No European passport
Score aligned on registration only without agrément AMF licence

A2 · Track Record 3.0/6

Stated default rate 0.1% (<1% → 6 pts base)
Delay rate >90 days not published → N/C → 0 pts
Real yield vs announced yield not verifiable (no audited report 2024) → N/C → 0 pts
Gross score: (6×0.5 + 0×0.3 + 0×0.2) = 3.0
No -2 penalty as default rate partially published

A3 · Rigueur de sélection 1.0/4faible

Selection rate not published
Process not documented publicly
Two documented cases of fraud/false information to investors (Estlat, Vibroedil) calling into question the rigour of the process
Established platform recognised in its niche but proven deficient selection

A4 · Santé financière 1.0/4faible

No audited financial report 2024 published (March 2026, delay justified by migration)
Small reserve fund and not transparent
Target yields 20%+ without verifiable solvency reserves
720% growth but suspect business model
No active distress signal but insufficient transparency for 2+ pts

A5 · Protection investisseurs 1.0/3faible

No agrément AMF/ECSP licence → automatic 1 pt rule not applicable
SRO PolyReg offers minimal framework
Reserve fund existing but opaque and undersized
No documented secondary market
No segregated account publicly confirmed
1 pt for SRO framework

Projet · 15.0/75 (23.0 brut, red flags −8)

B1 · Instrument & Structure 7.0/10

B1.1: 5/5 - Simple bond fixed rate 16.9%, clear legal right

B1.2: 1/3 - Direct loan Westlip Kenya, Kenyan law, applicable law unfamiliar

B1.3: 1/2 - Unsecured bond, no known senior debt, de facto 1st rank but not registered

B2 · Opérateur & Track record 5.0/15faible

B2.1: 2/4 - Caroline Wanjiku Chuchu appointed, sole director, no verifiable public profile

B2.2: 1/5 - First NBFI, <1 year of activity, no documented sector history

B2.3: 0/3 - First transaction on Maclear, no history

B2.4: 2/3 - No proceedings identified; very tight balance sheet, gearing 6.7x

B3 · Garanties & Sûretés 0.0/15faible

B3.1: 0/9 - Loan entirely unsecured, no security interest or documented guarantee

B3.2: 0/4 - No guarantor identified, fonds propres ~€552K, gearing 6.7x

B3.3: 0/2 - No banking partner, 100% external crowd financing

B4 · Structure financière 4.0/15faible

B4.1: 2/5 - taux de couverture de la dette estimated 1.0-1.5 on interest cover 2.9x but equity very thin

B4.2: 0/4 - Own contribution <6% of total financing, nearly all external debt

B4.3: 1/4 - Stress test absent; thin safety margin, projected loss rate 6-10.5%

B4.4: 1/2 - Net margin 18.5% projected 2026 but on unaudited projections

B5 · Pré-commercialisation 3.0/10faible

SME-NBFI: active portfolio 6 months, 6,153 loans, strong individual diversification but <20 SME clients, partial portfolio data
Sector concentration not documented
Score 3/10

B6 · Permis & Maturité 3.0/5

Digital Credit Provider licence CBK obtained (CBK/DCP/2025/194, December 2025)
Data protection registration valid
Legal activity nascent (<1 year)
Legal documents in order but activity very recent

B7 · Marché & Localisation 1.0/3faible

Kenyan digital lending market dynamic but highly competitive (227 DCP licensed)
Individual segment dominated by M-Pesa/Fuliza
Westlip with no established reputation
Secondary market without reliable comparable data for this segment

⚠ Alertes détectées · −8 pts déduits

Aucune garantie réelle sur ce projet −5 pts

No guarantee of any kind documented on this NBFI loan of €50,000 - loan entirely unsecured, neither security interest nor personal

Rendement élevé sans garantie réelle −3 pts

Rate served 16.9%/year with no registered security interest (neither mortgage, nor pledge, nor notarised guarantee)

Points forts

✓Kenyan regulator licence (CBK) obtained at launch, regulatory compliance documented.

✓Six months real operational history: 6,153 loans, near operational break-even achieved.

✓Digitally native model on proprietary infrastructure, no third-party licence dependency.

✓Default rate SME line <1% over first six months of activity.

✓Self-amortising financing programme: debt repaid in full mid-2027 without refinancing.

Risques identifiés

!Company incorporated July 2025, less than one year in existence: launch-stage execution risk very high.

!No security interest or personal guarantee documented: total loss possible on default.

!Concentration on single director (Caroline Chuchu), key-person risk not eliminated.

!EUR/KES currency risk unhedged: investor return in euros subject to shilling depreciation.

!Projected loss rate 6-10.5% on growing book; equity of €552K wholly insufficient to absorb shocks.

⚠ Avertissement sur les risques

Investir en crowdfunding comporte un risque de perte partielle ou totale du capital, ainsi qu'un risque d'illiquidité. Selon le baromètre France FinTech / Forvis Mazars 2025, 25 à 30 % des projets accusent un retard de plus de 6 mois et 4 à 6 % entraînent une perte définitive. Ne placez jamais plus de 5 à 10 % de votre patrimoine en crowdfunding et diversifiez sur au moins 10 projets. CrowdPickr est un service d'information indépendant, non agréé en tant que conseiller en investissement. Les analyses présentées ne constituent pas un conseil en investissement personnalisé.