Sandbox Funding — LV0000112902 — 12.5%/an · 12 mois

Plateforme · 21.0/25

A1 · Statut réglementaire 8.0/8✓ max

Licenced by Latvijas Banka / FCMC since September 2021 under Latvian ECSP regime
Calibration: Lande Finance (ECSP Latvijas Banka) = 8 points
Equivalent status applied

A2 · Track Record 6.0/6✓ max

Default 0% since 2019 (6/6)
Delay rate 0% (6/6)
Non-deviating yield reported (6/6)
A2 = (6×0.5 + 6×0.3 + 6×0.2) = 6/6

A3 · Rigueur de sélection 2.0/4

Process mentioned (post-2023 improvements), no published selection rate nor detailed committee description
2 points by default

A4 · Santé financière 3.0/4bon

Portfolio doubled in 2024, AUM €27.4M, 0% default
Independent platform >3 years, no distress signal
Concern of forestry sector concentration (March 2026) mild

A5 · Protection investisseurs 2.0/3

Active Latvian ECSP → 1 mandatory point (reflection period / continuity plan)
Buy-back guarantee at 90 days documented → 1 point (liquidity mechanism)
Segregated accounts not explicitly confirmed → 0 points

Projet · 45.0/75

B1 · Instrument & Structure 7.0/10

B1.1: 5/5 - Loan note at fixed rate, clear Latvian law

B1.2: 1/3 - Loan via originator, marketplace structure poorly documented

B1.3: 1/2 - Ranking not formally registered, no known senior debt

B2 · Opérateur & Track record 8.0/15

B2.1: 2/4 - Sandbox Funding entity named, managing director not identified in file

B2.2: 3/5 - Active Latvian NBFI, partial history, documented outstanding amounts limited

B2.3: 2/3 - Operations ongoing on Debitum with no reported incident

B2.4: 1/3 - Balance sheet data insufficient for full verification

B3 · Garanties & Sûretés 9.0/15

B3.1: 5/9 - Joint and several guarantee from originator licensed NBFI (standard loan pool structure)

B3.2: 2/4 - Partial financials, limited information on fonds propres and gearing

B3.3: 2/2 - Licensed NBFI originator from Latvian central bank, constitutes institutional partner

B4 · Structure financière 8.0/15

B4.1: 3/5 - taux de couverture de la dette estimated 1.5-2.0 on active Latvian SME pool

B4.2: 2/4 - Originator equity contribution partial, standard pool structure

B4.3: 2/4 - No documented stress test, moderate Loan-to-Cost (ratio prêt/coût total)/taux de couverture de la dette partially compensate

B4.4: 1/2 - Estimated margin 2-5%, probable taux de couverture de la dette 1.5-2.0

B5 · Pré-commercialisation 6.0/10

Active loan pool, partially documented diversified portfolio, history >2 years on platform, client concentration data not disclosed

B6 · Permis & Maturité 5.0/5✓ max

NBFI activity established >2 years, central bank licence current and valid, legal documents in order

B7 · Marché & Localisation 2.0/3

Latvian SME market in growth (+18.6% business loans 2025), credit/GDP low (29%), NBFI expanding
Stagflationary risks and 2026 slowdown moderate but documented

Points forts

✓Debitum platform licenced ECSP by Latvijas Banka, 0% default since 2019.

✓Latvian SME market in strong growth, NBFI in structural expansion.

✓Licensed NBFI originator from central bank, established activity.

✓Rate 12.5% per annum within SME-NBFI norms, short duration 12 months.

Risques identifiés

!Sandbox Funding managing directors not identified in available file.

!Balance sheet and gearing of originator not verifiable in provided data.

!Underlying loan pool not detailed: sectors, concentration, quality not disclosed.

!Latvian GDP slowdown expected at 1.4% in 2026, stagflationary risk documented.

!Absence of stress test and detailed financial data on originator.

⚠ 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.