October

At a Glance

What is October in 60 Seconds

October is a Paris-based lending platform that launched in 2014 to connect retail and institutional lenders with small and medium-sized businesses across Europe. For most of its history it let individuals fund short and medium-term business loans from as little as €20, holding an AMF authorisation under the French crowdfunding regime.

The important thing to understand today is that October is closed to new money. The retail loan book is in run-off, meaning lenders are receiving repayments on existing loans rather than deploying fresh capital into new deals. The headline figure the platform publishes for its statistics is a 3.22% net IRR, and that number should be read as the outcome of a maturing portfolio rather than a rate you can lock in now.

Strengths

• A long operating track record, having run since 2014, which is unusual longevity for a European SME lending platform.
• Held under the AMF regime, so the platform operated within a recognised French regulatory framework rather than entirely off-book.
• A low historic entry point of €20 made the retail product accessible while it was open.
• The published 3.22% net IRR gives lenders a concrete, platform-reported figure for how the book has performed on aggregate.

Things to Watch

• The platform is closed to new money and the retail book is in run-off, so this is not a place to start building a new position.
• SME business lending carries real default risk, and a net IRR of 3.22% is a modest reward for exposure to unsecured business credit.
• Returns are portfolio-level averages and will not reflect the experience of every individual lender, especially those with concentrated positions.
• As the book winds down, the pace and size of repayments are outside a lender’s control.
• Capital is at risk and there is no deposit-guarantee protection on lending balances.

How It Works

October’s model was straightforward business lending. Vetted companies applied for a loan, the platform assessed and priced the credit, and the loan was then funded by a mix of retail lenders and institutional partners. Lenders received scheduled repayments of principal and interest over the term of each loan, and the 3.22% net IRR reflects those flows after losses and fees.

In its current run-off state the mechanics are simpler still. No new loans are being offered to retail lenders, so activity consists of collecting repayments on the existing portfolio as those loans mature or are recovered. There is no way to add new capital, and the natural direction of travel for any balance is downward as loans repay.

Who Is It For

October is realistically only relevant to lenders who already hold positions in its run-off book and want context on how that portfolio is performing. For anyone looking to start lending today it is not an option, since the platform is closed to new money.

How It Compares

Against other SME-focused lending platforms, October sits in the regulated European tier by virtue of its AMF status, which is a meaningful step above the many unregulated consumer-loan marketplaces. Its distinguishing feature at present is not yield but status: a platform in run-off is a fundamentally different proposition from an open marketplace, and its 3.22% net IRR is low relative to the double-digit figures advertised by riskier, unregulated operators.

FAQ

Can I still invest with October? No. October is closed to new money and its retail loan book is in run-off, so new capital cannot be deployed. Existing lenders continue to receive repayments on loans they already hold.

What return has October delivered? The platform reports a 3.22% net internal rate of return. That is a portfolio-level figure net of losses and fees, and individual results will vary depending on which loans a lender funded.

Is October regulated? October operated under the AMF regime as a French crowdfunding provider. Regulatory authorisation reduces certain conduct risks but does not protect lenders against loan defaults or guarantee returns.

What happens to my money now that the book is in run-off? Capital is repaid as the underlying loans mature or are recovered. Balances are expected to decline over time as the portfolio winds down, and lenders cannot add new funds.

The Bottom Line

October earns its position at #31 not because it is a poor platform but because it is effectively closed for business to new lenders. A long track record and AMF authorisation are genuine positives, yet a run-off book returning 3.22% net IRR offers nothing to someone starting out today. It is best understood as a maturing legacy portfolio rather than a live opportunity. Capital at risk. P2P lending is not covered by deposit-guarantee schemes.

Affiliate Disclosure

TopPulse is not an affiliate partner of October. Links go directly to the platform. This does not influence our editorial position.