Ibancar is a Spanish fintech company founded in 2014. It offers consumer loans secured by a vehicle that the customer already owns and can continue using throughout the repayment period. Applications are processed online, and the preliminary offer is based on the vehicle’s identification, its market value, and the applicant’s financial situation.

The loans offered to investors on Bondster typically have maturities ranging from 12 to 36 months. The maximum loan-to-value (LTV) ratio is around 70%, while the portfolio average is approximately 47%. The difference between the vehicle’s value and the outstanding principal creates a buffer against depreciation, recovery costs, and potential resale expenses. The quality of the collateral is also influenced by the age, condition, and liquidity of the specific vehicle.

Since its founding, the company has provided loans with a total value exceeding EUR 20 million and has been profitable since 2021. Its further growth has also been supported by capital raised from private investors.

Ibancar retains a 5% stake in the financed loans and provides a buyback guarantee. Investors are therefore protected by a combination of vehicle-backed collateral and the loan originator’s commitment, while remaining exposed to the risks associated with valuation accuracy and Ibancar’s ability to fulfill its buyback obligations.

The current yield offered on Bondster ranges from 10% to 11% p.a.