Röntgen

What Röntgen does

Röntgen is a Vilnius-headquartered, Bank of Lithuania-licensed crowdfunding platform operated by UAB "Trečia diena" (founded 2015/2016) that intermediates first-mortgage-secured real estate loans between retail investors (minimum €100 per investment) and Lithuanian real estate developers. The platform underwrites loans with a conservative 30-40% collateral buffer, applies an A+ to D- risk classification aligned with Bank of Lithuania requirements, and accepts only one in twenty proposals submitted. Borrowers include named Lithuanian developers such as Citus, Omberg, Rinvest, Eika Group, SBA Urban, Realco, NordSpace, Avadi, Lunvis, Dear Home, and Vilniaus Džiazas, with select projects extending into Finland, Poland, and Italy.

The underlying technology is a PHP Laravel / CAKEPHP web platform with self-service borrower and investor flows, four-method identity verification (Smart-ID, Mobile Signature, Facebook, Google), Paysera payment integration, and analytics instrumentation (Contentsquare, Hotjar, Google Analytics, Google Ads, Meta Pixel). The matching and portfolio-management system was co-developed with EU Regional Development Fund support from May 2021 to November 2022. A public portfolio-quality dashboard surfaces real-time NPL (0.98%), recovery rate (95%), and zero historical capital losses.

The business model is two-sided. Investors pay no platform fees and earn an average disclosed return of 8.76%. Röntgen's revenue derives from origination fees charged to borrowers per a published Services Fee schedule, with no platform usage fees on the investor side. Distribution is product-led growth: digital self-service onboarding, weekly Monday newsletters, content marketing, paid digital acquisition, and word-of-mouth referrals (cited as bringing one in five new investors). Through Röntgen Asset Management, established April 2024 under a separate fund management licence, the company is extending into pooled fund products, beginning with a Bank of Lithuania-approved aviation fund launched in April 2025. Across all services, Röntgen is supervised under the EU Crowdfunding Regulation and reported a 24,639-investor community with €94.7-95.2M of platform originations in 2025 (~25% Lithuanian market share).

Name

Röntgen

Legal name

UAB "Trečia diena"

Website

https://rontgen.lt

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Röntgen (UAB "Trečia diena") is a Bank of Lithuania-licensed crowdfunding platform based in Vilnius that matches Lithuanian retail investors with real estate developers through first-mortgage-secured short-term business loans, charging borrower-side origination fees and earning zero fees from investors.

Ownership category

akta.pro rank

Product category

Real Estate Crowdfunding / P2P Lending Platform

NAICS

Investment Banking and Securities Intermediation (523150), Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (523940)

SIC

Loan Brokers (6163), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Large-Cap / Sponsor Finance Direct Lending (FSANADAJ)

Keywords

• Real estate crowdfunding
• Property-backed lending
• Peer-to-peer investment platform
• Debt-based crowdfunding
• Collateralized loan investing

Headquarters

HQ city

Vilnius

HQ country

Lithuania

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others, Infrastructure

Revenue model

1. Loan origination fees (borrower side): Röntgen charges borrowers (real estate developers) fees for using the platform. The fee schedule is published in the Services Fee document. No platform usage fees are charged to investors.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

Röntgen operates a regulated online crowdfunding platform that matches retail and institutional investors with Lithuanian and international real estate developers seeking short-term, first-mortgage-secured business loans. Investors can browse risk-classified project tranches and invest from €100 in increments of €100, while developers submit financing applications and receive loan offers in 2–4 weeks. The operator also runs a licensed asset management arm (Röntgen Asset Management) that manages investment funds such as the Bank of Lithuania-approved Aviation Fund.

Product overview

Röntgen is a unified crowdfunding platform operated by UAB 'Trečia diena' for real estate-backed investment and financing in Lithuania. The platform consists of two integrated services: the Investment Platform (Investavimo platforma), which enables retail and institutional investors to fund short-term business loans secured by primary real estate mortgages starting from EUR 100, and Business Financing (Sutelktinis finansavimas), which connects property developers and businesses with capital. Both services share the same technology infrastructure, user accounts, project listings, and regulatory framework supervised by the Bank of Lithuania under the EU Crowdfunding Regulation.

Differentiator

Problem solved

Functional benefit

Products and services

• Röntgen Investment Platform (Investavimo platforma) A regulated self-service investment platform that enables individuals and company entities to invest in short-term business loans secured by primary real estate mortgages, starting from €100 per investment in €100 increments, with fixed annual returns of 7–10.5%.
• Business Financing (Sutelktinis finansavimas) A financing service for real estate developers and businesses to raise capital from investors on the platform, with real estate as primary collateral and preliminary proposals issued within 2–4 weeks of document submission; fees are governed by Röntgen's published Services Fee schedule.
• Röntgen Asset Management Aviation Fund An investment fund managed by Röntgen Asset Management that invests in aviation assets, launched after the Bank of Lithuania's fund management company license (granted 2024-04-19), and approved by the regulator on 7 April 2025.

Quantifiable outcome

• 0% capital losses in company history across all financed projects
• +9 more outcomes

Named customers14 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Scale indicators18 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Profitus: Lithuania's second-largest crowdfunding platform, voted 'best platform' by 21.4% of surveyed investors (vs. Röntgen's 43.6%). Directly competes in real estate-backed lending with similar Lithuanian developer client base.
• SAVY: Lithuanian peer-to-peer lending and crowdfunding platform offering property-backed loans to investors. Received 8.6% of 'best platform' votes in 2026 survey. Röntgen's AML Compliance Officer Aurelija Medeikaitė previously worked at SAVY in debt recovery and AML.
• EstateGuru: Leading European real estate crowdfunding platform operating across multiple EU jurisdictions. Directly comparable business model — short-term property-backed loans funded by retail investors — and overlaps with Röntgen's recent cross-border ambitions in Finland and other EU markets.
• Crowdestate: Baltic-origin real estate crowdfunding platform with EU passport, focused on property-backed investment opportunities. Similar target customer (retail investors seeking real estate exposure) and overlapping European expansion path.
• Bulkestate: Baltic real estate crowdfunding platform offering bulk real estate deals to investors. Comparable model of pooled real estate exposure with low minimums; overlaps in target investor demographic.

Broad incumbents

• Mintos: Latvian-headquartered global P2P lending marketplace. Operates at significantly larger scale than Röntgen across multiple asset classes (consumer, business, mortgage, etc.); broad incumbent providing overlapping but wider-scope services.
• PeerBerry: EU-regulated P2P lending platform originally from Eastern Europe, offering consumer and business loans. While its primary focus is non-real-estate consumer lending, it is a comparable EU-licensed retail-investor-facing platform with similar regulatory profile.
• Funding Circle: UK-listed SME lending platform. A broad incumbent providing business lending intermediation between investors and borrowers — analogous model of tech-enabled loan origination with retail investor funding, though at vastly greater scale.
• LendingClub: US-listed pioneer of online lending platforms connecting borrowers with retail investors. Same fundamental marketplace model as Röntgen (intermediation between borrowers and individual lenders via a regulated digital platform), though at significantly larger scale and serving different geographies.

Others

• Newsec: Pan-Baltic real estate services group that made a strategic minority investment in Röntgen in February 2019. Adjacent industry player and existing investor/partner that could become a strategic ally in Baltic/Nordic expansion.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Röntgen