Bondora Go & Grow vs. Modena: Which product is right for you?
P2P lending offers investors comparatively high returns with minimal effort. At the same time, there are differences in interest rates, the liquidity of individual platforms, and in terms of flexibility and experience.
For this reason, today we’re taking a look at Bondora Go & Grow, one of the most experiencedP2P lending providers on the market, and comparing it with the newcomer, Modena. Whilst Go & Grow stands out for its many years of experience, investors with Modena have the chance to earn up to 11 per cent interest per annum.
But which platform is the better choice for investors? In today’s comparison, we take a closer look at Go & Grow versus Modena and examine the pros and cons of both providers so that you can make better decisions.
In brief:
- With Bondora Go & Grow and Modena, investors put their money into consumer loans offering interest rates of up to 6 per cent and up to 11 per cent per annum respectively.
- Bondora is one of the most experienced providers of P2P loans and has already successfully weathered several crises. Modena still has to prove itself.
- As well as the prospect of high interest rates, Modena stands out thanks to its unique features, which offer investors greater flexibility when investing.
- The attractive fee structure on both platforms offers both newcomers and experienced investors favourable terms for getting started with investing.
Go & Grow vs. Modena: How well do these investment products perform?
The comparison between Bondora Go & Grow and Modena pits one of Europe’s most renowned P2P platforms against an up-and-coming P2P lending provider that is currently attracting the interest of many investors.
Before we begin our detailed comparison of the two P2P lending providers, let’s take a look at the business models behind them to gain a better understanding of the companies.
Let’s start with the Bondora Group, founded in 2008. With nearly 20 years’ experience, Bondora is one of the oldest P2P companies in Europe. Here, investors put their money into consumer loans, the vast majority of which originate from its core market, Finland.
With its “Go & Grow” investment product, Bondora has around 500,000 registered users and has been profitable for the ninth year running. Investors can earn up to 6 per cent interest per annum here.
The Estonian P2P platform Modena is one of the newest of its kind. The company began offering consumer loans in 2024, enabling investors to earn up to 11 per cent per annum.
Modena attracts new customers with attractive bonuses and the prospect of cashback, and is currently steadily increasing its total investment volume.
The table below gives you an overview of the key differences between the two platforms.
| Criterion | Bondora | Modena |
| Company formation | 2008 | 2019 |
| Platform launch | 2018 | 2024 |
| Head office | Tallinn, Estonia | Tallinn, Estonia |
| Management | Pärtel Tomberg | Oliver Matt |
| Loan volume financed | Over €1 billion | Over €36 million |
| Regulation | Supervised by the Estonian Financial Supervision Authority; not regulated under MiFID II | Supervised by the Estonian Financial Supervision Authority; not regulated under MiFID II |
| Annual Report | Yes | Yes |
| Investors | 500,000+ | 2,500+ |
| Return | Up to approx. 6% p.a. | Up to approx. 11% p.a. |
| Buyback | No | Yes |
| Minimum investment amount | €1 | €50 |
| Auto-Invest | Yes | Yes |
| secondary market | No | No |
| Loyalty programs | Referral schemes and campaigns | Welcome bonus and cashback |
I have experience with both Modena and Bondora Go & Grow and have invested in both platforms. You can find out more about both P2P platforms in my article on the best alternatives to overnight money accounts.
Let’s now begin with a detailed comparison of Bondora Go & Grow vs. Modena.
Comparison 1: Go & Grow vs. Modena – Interest Rates
There are significant differences between the two platforms in this key area, which are worth examining in more detail. Which platform is the more attractive option, particularly for those seeking high returns?
With Bondora Go & Grow, the established P2P giant, investors receive up to 6 per cent interest per annum with flexible payouts. However, this is not a fixed return, but a target return that may fluctuate depending on the performance of the loan portfolio.
Go & Grow interest rate model:
- Daily calculation of the return based on the investment.
- Income is automatically credited to the Go & Grow account and reinvested straight away.
- Interest starts to accrue as soon as money is invested in the Go & Grow account.
- Thanks to automatic reinvestment, investors benefit from the compound interest effect, as income already earned also contributes to future returns.
Given its relatively short history, the P2P lending provider Modena is presumably trying to attract investors with attractive interest rates. The P2P platform is currently advertising annual interest rates of up to 11 per cent, which can be achieved with the ‘Growth Vault’ product. With the flexible ‘Dynamik Vault’ product, investors can earn up to 7.9 per cent per annum.
Again, this is not a fixed return, but rather the potential return.
Modena interest rate model:
- Returns are generated by the discount at which Modena sells loan receivables to investors. The difference between this and the nominal value represents the return.
- Returns are recognised as soon as new receivables are sold to the investor. According to Modena, this occurs on average several times a week.
- Borrowers make daily repayments, comprising both principal and interest, which are credited to the investor’s account.
- The repayments received are automatically reinvested in new loan receivables, allowing investors to benefit from the compound interest effect.
- The return is not guaranteed and depends on the performance of the underlying receivables and the chosen vault.
For yield-oriented investors, Modena is an exciting P2P provider which, whilst still relatively new to the market, offers attractive interest rates. Those looking to invest in P2P loans via a tried-and-tested platform are likely to be better off with Go & Grow, which offers rates of up to 6 per cent.
Furthermore, with both Go & Grow and Modena, investors are investing in a broad pool of loan shares, which helps to diversify their portfolio.
Comparison 2: Go & Grow vs. Modena – Liquidity
As with most P2P platforms, liquidity on Modena and Go & Grow also depends heavily on the performance of the individual loans. Nevertheless, there are noticeable differences here, as Go & Grow is now one of the world’s most liquid products in the P2P sector.
For this reason, there are hardly ever any delays in payouts at Go & Grow. The platform has been delivering very reliably for years. However, even at Go & Grow, delays or limited payouts can certainly occur during exceptional market conditions.
In my experience, withdrawals with Go & Grow always go smoothly. Investors have daily access to their money, which is usually credited to their account within a few seconds.
For me, this is a clear advantage and probably also one of the reasons why investors are increasingly turning to Go & Grow as a more attractive alternative to instant-access savings accounts.
In my view, Modena performs significantly worse than Go & Grow in terms of liquidity. This is because any withdrawal must be notified31 days in advance if you wish to have your money paid out in full. Anyone wishing to access their money before the 31 days have elapsed must accept a reduction in interest.
This makes Modena less attractive for anyone who wants flexible access to their money and does not wish to tie it up for a long period.
Comparison 3: Go & Grow vs. Modena – Track Record & Regulation
Investing in P2P loans often comes with a higher return, but also carries a slightly higher level of risk. As an investor, you should therefore always familiarise yourself thoroughly with the risks and security measures of each platform beforehand, so that you can approach wealth-building in an informed and knowledgeable manner.
With Go & Grow and Modena, investors invest in consumer loans. With Go & Grow, capital is automatically allocated across the Bondora Group’s loan portfolio. With Modena, investors acquire receivables arising from consumer loans granted by Modena.
Good to know:
With Modena, investors automatically acquire shares in receivables arising from consumer loans and ‘buy now, pay later’ financing. The receivables are purchased at a discount to their face value. The difference between the purchase price and the face value represents the investor’s return.
The capital invested is not protected by the statutory deposit guarantee scheme. In the event of defaults or problems with the platforms, there is therefore a risk of losses, including total loss.
Thanks to its many years of experience, Bondora has successfully weathered a number of difficult market phases, which speaks to the company’s resilience.
The most relevant market phases include:
- The 2008–2009 global financial crisis
- The 2011–2013 European debt crisis
- The ECB’s period of low interest rates between 2014 and 2021
- The 2020 COVID-19 pandemic
- A sharp rise in interest rates since 2022
- Various economic and geopolitical market phases
Modena, on the other hand, still has to prove itself. The platform has only been in existence since 2024 and therefore still has a crisis or two ahead of it, which will show whether its business model stands the test of time.
Another point of interest for investors is regulation, and in this respect the two P2P platforms are quite comparable. Both Go & Grow’s parent company, the Bondora Group, and Modena are supervised by the Estonian Financial Supervisory Authority.
However, neither company is regulated under the MiFID II licence, which is already the case for platforms such as TWINO. Consequently, from a regulatory perspective, investors tend to lack a certain degree of transparency.
Despite the lack of a MiFID II licence, Bondora is a very transparent provider. With just a few clicks, investors can gain insights into key loan portfolio statistics, such as:
- Breakdown of the active loan portfolio by duration of arrears
- Breakdown of lending by country and internal risk assessment
- as well as loan defaults in individual countries and their recovery rates
For a more in-depth look at the Bondora Group’s portfolio statistics, click on this article.
Comparison 4: Go & Grow vs. Modena – Loan portfolio
The loan portfolio on the Go & Grow P2P platform spans numerous markets, thereby offering investors broad diversification.
In addition to its home market of Estonia, the provider has a strong foothold in its core market of Finland, where the majority of P2P loans are granted. Furthermore, the Bondora Group is working on steadily expanding into other high-potential markets. These include the Netherlands, Denmark and Latvia.
With Modena, investors also acquire shares in a larger pool of loans. According to the platform, these loans are “sold in shares to investors, so that no single investor owns a loan in its entirety.
This ensures an even distribution of returns and stability. For example, an investor may own 1 per cent, 5 per cent or 14.63 per cent, and so on, of a loan.”
The cumulative investment amount on Modena currently stands at around €36.7 million, whilst the outstanding amount is €7.6 million.
By contrast, the Bondora Group’s active portfolio stands at approximately €600 million, which highlights the difference in scale between the two platforms. The Bondora Group also achieved record turnover of €62.7 million in 2025, representing an increase of 19.2 per cent compared with 2024.
| Key figure 2025 | Bondora Group | Modena Estonia OÜ |
| Turnover | €62.7 million | €1.63 million |
| Net profit | €9.5 million | €231,943 |
In terms of profitability, Go & Grow is the clear frontrunner. Nevertheless, I see potential in Modena and am keen to see how this young P2P lending provider will develop in the future.
Both P2P platforms have audited annual accounts. However, Modena’s accounts lack an English translation, which is certainly important for most investors in order to properly understand the key figures.
Comparison 5: Go & Grow vs. Modena – Features
With Modena, investors can only invest from €50 upwards, which is significantly higher than with Go & Grow, where investors can get involved from as little as €1. However, there is no limit on the maximum investment. Investors therefore enjoy complete freedom in this regard.
Ein für mich spannendes Feature bei Modena, das ich so bei keiner anderen Plattform gesehen habe, ist der Auto-Payout. Damit legen Anleger nach ihren Wünschen fest, wie hoch der Zinssatz sein soll, der automatisch am Monatsanfang auf das Konto überwiesen werden soll.
When it comes to features, I think Go & Grow’s ‘Goals’ function is particularly worth mentioning, and I’d like to go into more detail about it.
The ‘Goals’ feature allows you, as an investor, to structure your
- Holidays
- Emergency savings
- New car
- Long-term wealth building
The invested funds continue to generate the current return of around 6 per cent per annum – regardless of how many goals are set.
Comparison: 6 Go & Grow vs. Modena – Fees
The table below gives you an overview of the fee structures for both products. These are identical in almost every respect. The only differences relate to withdrawals.
| Fee type | Go & Grow | Modena |
| Account opening | Free of charge | Free of charge |
| Deposit | Free of charge | Free of charge |
| Invest | Free of charge | Free of charge |
| Buy/sell fees | Not applicable | None |
| Withdrawal | €1 per withdrawal | Free of charge |
| Account management | Free of charge | Free of charge |
| Administration fee | None | None |
| Inactivity fee | None | None |
The fees charged by these two P2P lending platforms highlight just how low the barrier to entry is for getting started with investing. Investors incur virtually no costs for regular use of the platforms. This can make investing in P2P loans particularly attractive, especially for beginners.
Is Bondora Go & Grow or Modena the better choice for you?
Whether Bondora Go & Grow or Modena is the right platform for you depends largely on your individual investment profile.
Here’s why Go & Grow is the right P2P platform for you:
- Experience: With Go & Grow, investors are placing their trust in an experienced player with nearly 20 years’ experience. The company has weathered several challenging market phases and continues to prove itself as a reliable P2P provider to this day.
- Diversification: Furthermore, investors on Go & Grow invest in a broad pool of loans, which helps to diversify their portfolio and reduces the risk associated with individual borrowers.
- Targeted wealth accumulation: The ‘Goals’ feature also gives investors the opportunity to work towards building their wealth in a targeted manner. This allows investors to invest in a structured way and, through automatic reinvestment, let compound interest work in their favour.
That’s why Modena is the right P2P platform for you:
- Potential return: Modena is particularly appealing to investors seeking returns. With the potential for up to 11 per cent interest per annum, the platform offers a rate well above the maximum interest rate of 6 per cent available on Go & Grow.
- Buyback: With Modena, defaulted loans are repurchased by Modena under certain conditions, whereas this is not the case with Go & Grow. This can reduce the risk of individual loan defaults.
- Auto-Payout: With this innovative feature, investors can decide for themselves the amount of interest to be automatically transferred to their account at the start of each month. To my knowledge, this feature is unique on the market.
Portfolio comparison: How I invest
I only started investing with Modena in July 2026. The platform is still relatively new to me, which is why I’m going to take a cautious approach to my investment for the time being. My portfolio is currently worth €530.
I have, however, been with Go & Grow for many years now. On this P2P platform, I have invested the largest proportion of my funds, alongside my investments in Monefit SmartSaver and Debitum. My Go & Grow portfolio is currently just under €13,000.
My interest income from Go & Grow totalled €297.34 in the first half of 2026. That works out at just under €50 a month on average, which I earn passively through my portfolio.
You can read more about Bondora and the Go & Grow platform in my latest Bondora review.
Conclusion: Newcomer vs. veteran – each appeals to different types of investor
Go & Grow is one of Europe’s P2P veterans and has been impressing with its reliability for many years. Investors currently receive up to 6 per cent interest on consumer loans from the Bondora Group and have their funds paid out within a few seconds. However, there is currently no option to earn a higher rate of interest for longer terms.
Modena, on the other hand, is a newcomer with a very short history and still has to prove itself in the coming years. In return, yield-seeking investors can earn up to 11 per cent a year on this P2P lending platform. Furthermore, the P2P lending provider offers innovative features that have never before been seen on the European market.
The barrier to entry is low on both platforms. Investors incur virtually no costs and invest in a pool of loans. The right platform for you therefore depends more on whether, as an investor, you prefer to rely on proven expertise or give new providers with growth potential a chance.
My latest P2P lending ranking gives you an overview of the best and safest platforms. Have a look now and find out more.
FAQ: When is Bondora Go & Grow worth it, and when is Modena the better choice?
