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…With Credilink in Romania, Finjet in Spain, and Firmeo in Poland, Hive5 now operates a truly diversified and scalable growth model — spanning multiple countries and product types. For investors, this means greater stability, stronger diversification, and a consistent flow of new opportunities as we move toward 2026 and beyond…
Hello, crowdlenders!… The fact that Hive5 is undoubtedly one of the most dynamic and distinctive platforms in the P2P investment sector is undeniable… It’s no wonder that throughout its several years of existence, we’ve seen the creation from scratch of loan originators and companies within the Hive Finance Group that have brought the loyal investors more than one reasons to celebrate based on strong performance and reliability.
…But even for a platform as active as Hive5, the flow of new developments has increased quite a bit in recent weeks and months, with the progresses of its Romanian loan originator, Credilink, the creation of its first originator focused on business loans, Firmeo, the presentation of its 2023-2024 report, and, as the icing on the cake, the acquisition of Hive Finance by Ruptela and the definitive departure of Ričardas Vandzinskas…
…Therefore, we wanted to bring in Aurimas Kačinskas, CEO of Hive5 and Hive Finance Group… Welcome to TodoCrowdlending Aurimas!
1 – Well, first of all, Aurimas, as an introduction to help our community get situated… what is the meaning behind all these changes? Why are they happening now? Are we moving towards a kind of Hive5 2.0… an improved version of the platform?
AKOver the past year we’ve moved from a startup phase to a scale-up with a stronger governance structure. That includes appointing a new CEO (myself), forming a professional board, and sharpening roles and processes. The intent is straightforward: support faster growth, improve accountability, and meet higher expectations from international investors. We explained this shift in our leadership and governance update, which lays out why now is the right time—because the business has outgrown a “startup” operating model and needs a structure designed for scale.
On the ownership side, Hive Finance Group became part of Ruptela Group in October 2025. Nothing changes for investor accounts or the day-to-day platform operations, but we now have the backing of a globally recognised technology group with a broad international network. In short, this is not a re-brand but an evolution: our platform remains the same, our processes remain familiar, but we’re now operating inside a more robust organisational framework.
How this benefits investors:
- Because we’re now part of Ruptela Group — already serving clients in over 120 countries and employing more than 250 skilled professionals — the backing gives extra credibility and resources to Hive Finance Group.
- The move strengthens our organisational framework, reinforces transparency, and improves risk management.
- For investors it means: the same platform and user experience, but with higher institutional quality in governance and operations; improved ability to scale and innovate; and greater confidence that the investment environment is being managed with an elevated standard.
2 – Probably one of the things that has generated the most media buzz has been the publication of the 2023-2024 Annual Report… We’ll go into detail shortly, but in general, and very briefly for our audience… how can we assess the figures presented in the report?
AKThe Annual Report (published October 14, 2025) is a consolidated view of Hive Finance Group companies for 2022–2024. It shows the strategic transition from foundation-building to sustainable scaling: revenue from operations grew from €135k (2022) to €3.26m (2023) and €11.52m (2024); gross profit rose to €8.77m in 2024; and the group turned EBITDA-positive (€2.57m) and profitable in 2024 (net income €55k). These numbers should be read as a picture of scale and operating leverage starting to flow through.
Liquidity and asset growth are also material to the assessment: cash increased to €1.15m and total assets reached €11.98m in 2024, with loans receivable surpassing €10m. The report’s narrative explains that higher provisions and depreciation follow portfolio growth—expected dynamics for a lender increasing volumes responsibly.
This report confirms that Hive Finance Group has reached a crucial turning point. The group’s ability to scale operations, reduce financial costs, and achieve profitability – all while maintaining growth in assets and revenue – sends a clear message to investors: Hive Finance Group is a fast-growing and highly scalable business. Investors could expect that after positive business results, we can focus on better credit scoring, better risk-adjusted returns, and an increasing ability to self-finance or operate with diversified funding strategies.
3 – Some investors are complaining that it’s simply a page full of data and that the audited report hasn’t been released yet… what can we say about this? What are the plans for releasing the audited report?
AKWe published the consolidated reporting page as soon as the information became available to ensure full transparency. The purpose of sharing the complete dataset — even if it is extensive — is to give investors immediate access to all underlying figures related to Hive Finance Group’s performance, rather than delaying disclosure until the audit is finalized.
Status of the audited report: The audit process is still ongoing. To guarantee the highest standards of accuracy and compliance, the audited report must pass through several detailed verification stages conducted by independent external auditors. This naturally takes time, but it ensures that the final audited results are reliable, complete, and professionally validated. We plan to publish the audited report for 2024 by the end of Q1 2026.
In the meantime, we continue to share operating data in monthly reviews and have published the consolidated Annual Report so investors can see the trajectory and structure of the business. When the audit is complete, we’ll release the audited statements publicly on our site.
4 – Regarding the data and the technical aspects of the report…
4-a) Some investors are focusing on the negative equity figure, which has grown for the third consecutive year. What can you tell us about this specific data point?
AKThis is good point from investors side and has few explanations:
- Group shareholders decided to invest into company not through capital injections but by lending funds as a shareholder’s loan. This explains why there is negative equity but do not reflect shareholders invested money into the business.
- Management is aware of this trend which mainly happened due to starting of new business in Poland (2022), Spain (2023). Statistically first new business reaches their brake even at the end of 2nd year. Good news that 2024 EBITDA fully covers financial expenses and group net income during 2024 were 55 k profit.
4-b) We have also been asked about the “Other Income” section, where we see very high amounts that drastically impact the strong EBITDA achieved, especially in 2024. Where does this income come from? Is it a one-off or a recurring event?
AKOther income comes from the sale of a non-performing loan portfolio. The Group has a debt collection strategy to sell portfolios that are over 90 days past due (DPD) to debt collectors. As this income does not arise from the Group’s core business activity, it was classified as other income.
4-c) Finally, on this point, some users have highlighted the significant increase in loan loss provisions. What is the reason for this?
AKWhen we are talking about provision, at first, we should calculate proportion at least between revenue from operations and loan loss provisions. In 2023 provisions vs revenue from income were 29% in 2024 28%. So, we have almost the same proportion and such changes been related with grow of revenue from operations which has also impact of risk taken.
5 – Okay, moving on to the news and leaving the financial report behind… Let’s focus on the integration of Hive Finance into Ruptela… When we think about this, I believe one of the main questions the community has is: What do GPS devices have to do with Hive5 activity?… What will Ruptela bring to Hive5?… and vice versa… What will Hive5 or Hive Finance bring to Ruptela?
AKRuptela Group acquired the shares previously held by one of our co-founders, now owning 35% of Hive Finance while the main shareholder retains 65%. For Hive5 investors, operations continue as usual; the benefit is strategic: access to an established international technology group with a track record in data, hardware/software development, and global scaling. That strengthens our organizational foundation and opens opportunities for more data-driven decision-making and innovation.
For Ruptela Group, Hive Finance adds a fast-growing fintech arm (the Hive5 marketplace and Loan Originators such as Finjet, Credilink, Firmeo, Ekspres Pożyczka), diversifying the group and creating potential product and data synergies. Additionally, Hive Finance is ready to support the Group with capital raising when needed, and in the Polish market we can provide financing solutions for its clients — including B2B loans if such demand arises.
6 – On the other hand, the press release places considerable emphasis on Ricardas – the initial CEO of Hive5 when the platform launched – having decided to sell his shares… Of course, everyone is free to do as they see fit… but… what were his motivations? Why now?
AKHis decision was not related to performance concerns; it was a purely personal decision. After discussing the situation, both shareholders agreed that a full transfer of his shares was the most appropriate way to ensure business continuity and stability. At that point it was clear that R.Vandzisnkas wished to step back from active involvement, making the transition a natural step for both sides.
7 – Okay, let’s focus now on the Originators… After a lengthy setup period, Credilink has finally issued its first loans in Romania… Is this Originator destined to become the new star, the new engine of Hive5 after the void left by Ekspres Pozyczka? What can we, as investors, expect from it?
AKYes — Credilink in Romania is one of Hive5’s core growth drivers. We acquired an existing licensed entity and rebranded it as Credilink to accelerate market entry. We selected Romania because the market presents a compelling mixture of factors: a population of around 20 million, a large, underserved segment (notably over 5 million people earning below €600 monthly) and limited competition in online consumer credit. Romania also offers a highly skilled lending-workforce, a clear regulatory framework, and relatively low operational costs — all of which together make it an ideal stage for a high-quality consumer credit offering.
Beyond Credilink in Romania, we see three major growth engines for 2026 and beyond — Finjet in Spain, Firmeo in Poland, and Credilink in Romania.
Finjet in Spain operates in one of the largest consumer credit markets in the euro area, giving Hive5 exposure to a mature market. Finjet continues to grow steadily, strengthening Hive5’s geographic diversification within the EU.
Firmeo in Poland is our first SME/business-loan originator, focused on financing micro, small, and medium enterprises with loan amounts ranging from PLN 10,000 to 500,000 (approximately €2,300–€110,000) and repayment terms of 3 to 12 months. This segment opens new opportunities in a dynamic market where access to fast working capital remains a key need.
For investors, the addition of Finjet, Credilink, and Firmeo expands both our geographic diversification (Spain, Romania, and Poland) and product range (consumer and business SME lending). In practice:
- Finjet and Credilink demonstrate operational momentum, strong investor demand, and solid portfolio growth.
- Firmeo adds a new asset class, allowing for larger loan sizes, longer terms, and an attractive risk–return balance.
In summary, with Credilink in Romania, Finjet in Spain, and Firmeo in Poland, Hive5 now operates a truly diversified and scalable growth model — spanning multiple countries and product types. For investors, this means greater stability, stronger diversification, and a consistent flow of new opportunities as we move toward 2026 and beyond.
8 – There are also high expectations surrounding Firmeo, the first Originator focused exclusively on B2B loans… When is its launch expected in the Polish market? What will this mean for us investors?
AKWe are pleased to announce that Firmeo in Poland is planned to launch on our platform in December 2025, marking the next strategic step in our Loan Originator expansion. As noted in our blog post: Firmeo specialises in financing micro, small and medium-sized enterprises (MSMEs) which often face financing limitations from traditional banks. The Polish SME market represents significant potential—there are approximately 2.78 million registered companies of which 99.8% are SMEs, and a large portion currently cannot access fast, flexible financing.
Firmeo will serve SME businesses in Poland with loan amounts ranging from PLN 10,000 to PLN 500,000 (~€2,300–€110,000) and flexible repayment terms of 3 to 12 months. The product is structured to meet a genuine demand gap in Poland’s business finance segment, combining speed, transparency, and modern digital origination. The team behind Firmeo has a proven track record in developing and managing lending operations in Poland, giving us strong confidence in its ability to build a sustainable, high-quality loan portfolio and deliver long-term value to Hive5 investors.
For investors on Hive5 this means a meaningful expansion of our product offering beyond consumer lending and into the SME business-loan segment. It opens access to a new risk/return profile, larger ticket sizes and longer repayment terms, while still operating under the familiar framework of our platform, including buyback protection. We view Firmeo as a durable contributor to investor opportunities on Hive5, helping to position the platform for diversified growth heading into 2026 and beyond.
9 – Okay, to wrap things up, let’s take a look at the future… After this dynamic and very interesting 2025… what are Hive5’s plans and expectations for 2026?… As investors, will it be worthwhile to continue including Hive5 in our P2P investment portfolio?
AKAs CEO, I can outline our focus for 2026 very clearly: our priority is to stabilise, ensure sustainable profitability, and eliminate the negative equity position. At the same time, we are preparing the organisation for scale so that in 2027 we can confidently expand into new countries.
This year, despite internal changes, we delivered on our plan and successfully launched two new countries — both already operating and performing. This demonstrates the team’s ability to execute ambitious goals even during a period of transformation.
Looking ahead to the next 12–24 months, our key priorities are:
- Adding more Loan Originators,
- Strengthening automation in risk and reporting,
- Increasing consistency and transparency across the organisation.
These steps will allow us to build a more resilient platform and prepare for sustainable growth in the coming years.
Also, we encourage investors to evaluate Hive5 based on our consistent execution and transparency. We regularly publish detailed monthly metrics — including loan volumes, investor growth, and interest paid — and October 2025 results demonstrated strong momentum with a 23% month-over-month increase in funding and a steadily expanding investor base. We expect our reporting process to become even more comprehensive, reinforcing Hive5’s position as a long-term, well-diversified option in P2P investment portfolios.
10 – And now, to wrap things up, Aurimas, the stage is all yours. Is there anything you’d like to comment on or share with the TodoCrowdlending.com community?
AKThank you for your continued attention and engagement — it helps us build greater transparency and accountability across the Hive5 community. Our promise is to keep communicating with clarity: share the data we have (monthly metrics and the consolidated report), explain what’s still in progress (the multi-country audit), and deliver on the governance and product roadmap we’ve outlined.
We will continue to publish milestones—new originators like Firmeo, expansion in Romania via Credilink, and platform improvements—so you can track our progress objectively.
If you’re new to Hive5, I encourage you to read the Annual Report article and our recent monthly reviews—they reflect the same principles we run the business by transparency, discipline, and a long-term growth vision. We value your trust and your questions — they help us improve every month.
Thank you so much for your time!
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