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Beginner guide

Crowdlending in Switzerland 2026: A Complete Guide

How crowdlending works in Switzerland in 2026: CHF 629m market, KKG rules, no investor scheme, Swiss tax, and the platforms paying 4% to 15%.

By , Regulatory & Compliance · Updated 2026-06-15 · 11 min

Crowdlending in Switzerland 2026: A Complete Guide

Switzerland sits slightly apart from the rest of European crowdlending. It is not in the European Union, so it never adopted the EU’s crowdfunding licence, and it runs on Swiss francs rather than euros. Yet its market is growing fast: after three years of decline, Swiss crowdfunding volume rose 14% in 2025, and the lending segment is expected to grow another 30% or so in 2026 [source: IFZ Crowdfunding Monitor / HSLU, via FintechNews.ch]. For an investor, that creates two very different doorways into “Swiss crowdlending”, and they pay very different yields.

This guide explains how crowdlending works in Switzerland, who regulates it, how Swiss tax treats your returns, and which platforms are worth knowing in 2026. It is written for someone investing for the first time, so every piece of jargon is explained the first time it appears. If you are completely new to the concept, start with our plain-English companion guide what crowdlending is and come back here for the Swiss-specific detail.

📊 CrowdIndex Editor’s Pick: Maclear ranks #1 of the 19 European platforms we track (Score 9.2/10). It is a Swiss-incorporated business-lending platform with realised yields of 14.5% to 14.9% and a default rate of about 0.15%. Read full review → | Visit Maclear →

TL;DR

  • Swiss crowdlending volume reached roughly CHF 629 million across the wider crowdfunding market in 2025, up 14%, with real-estate lending up 38% to about CHF 275 million [source: IFZ / HSLU].
  • There are two doorways: domestic CHF platforms (swisspeers, CreditGate24, Cashare) paying roughly 4% to 7%, and Swiss-incorporated euro platforms like Maclear paying a realised 14.5% to 14.9% [source: platform marketing; Maclear-full §6].
  • Switzerland is not in the EU, so there is no ECSP licence and no EU-style investor-protection scheme. Swiss crowdlending sits under the Consumer Credit Act and anti-money-laundering supervision instead [source: kmu.admin.ch].
  • For Swiss residents, private capital gains are tax-free, but interest income is taxable and your holdings count toward cantonal wealth tax [source: Deloitte Switzerland Highlights].
  • Bank deposits pay almost nothing in 2026 (the SNB policy rate is 0%), which is the main reason Swiss savers are looking at crowdlending at all [source: SNB / Morningstar].

1. What “Swiss Crowdlending” Actually Means

Crowdlending is online lending where many investors fund one loan together and share the interest the borrower pays. In Switzerland the word covers three loan types tracked by the IFZ Crowdfunding Monitor at Lucerne University of Applied Sciences: business loans to small companies (SMEs), consumer loans to individuals, and real-estate loans secured against property.

The numbers show how the mix has shifted. In 2024 the Swiss crowdlending market handled about CHF 406 million in total, split into roughly CHF 199 million of real-estate loans, CHF 134 million of business loans, and CHF 73 million of consumer loans [source: comparis.ch / IFZ data]. Real estate then jumped again in 2025, rising 38% to around CHF 275 million [source: IFZ / HSLU]. The reason is structural: since the start of 2025 Swiss banks have had to hold more capital against riskier property loans, which made bank financing more expensive and pushed some borrowers toward crowdlending platforms instead [source: organisator.ch / HSLU].

The practical point for an investor is that “Swiss crowdlending” is not one thing. A domestic franc platform lending to a Zurich construction project behaves very differently from a euro-denominated platform funding cross-border SME loans, even when both call themselves Swiss.

2. The Two Doorways Into Swiss Crowdlending

Domestic Swiss franc platforms

The first doorway is the home market: platforms that lend Swiss francs to Swiss borrowers. The pioneers are well established.

Swisspeers, launched in 2013, was the first Swiss crowdlender focused on SME loans, connecting individual investors with Swiss companies. Its short-term business loans tend to advertise investor returns of roughly 4% to 6% [source: platform marketing, verify before investing]. CreditGate24, live since 2015, has arranged more than CHF 1 billion in loans and advertises average investor yields around 7.3% [source: platform marketing]. Cashare, founded in 2008, is one of the oldest peer-to-peer lenders in the country.

These platforms are conservative by European standards. Yields in the 4% to 7% range reflect a developed economy with low default rates and a strong franc, but they barely beat a good year of Swiss inflation. They suit a Swiss resident who wants franc exposure and is comfortable with single-digit returns.

Swiss-incorporated euro platforms

The second doorway is euro-denominated platforms that are legally based in Switzerland but lend across borders. The clearest example is Maclear, a business-lending (P2B) platform registered in Wallisellen near Zurich [source: Maclear-full §1]. It funds small-business loans in euros, mainly to borrowers outside Switzerland, and reports realised yields of 14.5% to 14.9% on roughly 99.6 million euros invested by around 35,000 investors as of April 2026 [source: Maclear-full §6].

That yield gap, single digits on domestic franc platforms versus mid-teens on a euro platform, is the single most important thing to understand about Swiss crowdlending in 2026. The higher number is not free: it reflects higher-risk cross-border SME credit rather than franc-denominated lending inside a low-default home market. We explain how to read advertised versus realistic returns in our realistic-returns guide.

3. Who Regulates Crowdlending in Switzerland

Because Switzerland is not in the EU, none of the EU rules apply here. There is no ECSP licence (the European Crowdfunding Service Provider authorisation that EU business-loan platforms have needed since November 2023), and there is no MiFID II (the EU’s main investment-firm regulation). Swiss crowdlending is governed by Swiss law instead, and the framework is lighter.

Consumer crowdlending has fallen under the Consumer Credit Act, known by its German initials KKG, since 1 April 2019 [source: kmu.admin.ch]. Platforms that hold client money or arrange securities offerings must also respect rules supervised by FINMA, the Swiss Financial Market Supervisory Authority. A platform that takes deposits from the public on an ongoing basis would need a banking licence, which is why most crowdlending platforms route money through an escrow bank rather than holding it themselves.

There is one more layer that matters specifically for Maclear. It is a member of a FINMA-recognised self-regulatory organisation (SRO) called PolyReg, under Article 24 of the Anti-Money Laundering Act [source: PolyReg verification; Maclear-full §3]. This is worth stating plainly, because it is easy to misread: SRO membership is an anti-money-laundering and identity-verification regime. It is not an investor-protection scheme, and it does not guarantee your capital. There is no Swiss equivalent of a deposit-insurance fund or an EU investor-compensation scheme behind crowdlending here. We unpack the full regulator hierarchy in our regulation explainer.

4. How Swiss Tax Treats Crowdlending Returns

Switzerland has one of the most investor-friendly tax systems in Europe, but the benefit applies to the wrong part of crowdlending for most investors to enjoy it fully.

For a private investor managing their own wealth, capital gains are tax-free. Switzerland charges CHF 0 on private capital gains [source: Deloitte Switzerland Highlights; Taxolution]. The catch is that crowdlending pays you interest, not capital gains, and interest income is fully taxable as income at your marginal rate. So the headline Swiss tax advantage does not shield crowdlending returns the way it shields, say, a stock that rises in price.

Two more items apply. First, your crowdlending holdings count as assets for the cantonal and municipal wealth tax, which runs roughly 0.1% to 1% of net assets per year depending on the canton and the amount [source: Deloitte Switzerland Highlights]. Second, interest paid by Swiss debtors is generally subject to a 35% federal withholding tax, which a Swiss resident can reclaim through their tax return but which a non-resident may not fully recover. Euro platforms lending to non-Swiss borrowers, such as Maclear, typically fall outside Swiss withholding tax, but your home country will still tax the interest, so cross-border investors should check their own rules.

None of this is tax advice, and cantonal rules vary widely. Confirm your situation with a local tax adviser before you invest.

5. Why Swiss Savers Are Looking at Crowdlending in 2026

The pull toward crowdlending is mostly about how little cash earns. The Swiss National Bank held its policy rate at 0% through 2026, with no change expected until at least the second half of 2027 [source: SNB / Morningstar]. The average Swiss deposit rate sat near 0.03% in early 2026, and large banks pay close to nothing on balances above modest thresholds [source: SNB statistics]. A franc sitting in a savings account in 2026 is, in real terms after costs, going slightly backward.

Against that backdrop even a 4% to 7% domestic crowdlending yield looks attractive, and a 14% euro yield looks dramatic. The risk trade-off is real and should not be glossed over: bank deposits up to CHF 100,000 carry Swiss depositor protection, while crowdlending carries borrower default risk, platform risk, and, on euro platforms, currency risk for a franc-based investor. The honest framing is that crowdlending is a higher-return, higher-risk slice of a portfolio, not a savings-account replacement.

6. Choosing a Swiss Crowdlending Platform

A sensible way to choose is to match the platform to your goal and your risk appetite.

If you want franc exposure and single-digit returns from Swiss borrowers, the domestic platforms (swisspeers, CreditGate24, Cashare) are the natural fit. If you want higher euro yields and you accept cross-border SME credit risk and the lighter SRO framework, a euro platform is the route, and this is where Maclear sits at the top of our ranking.

We rank Maclear #1 of the 19 European platforms we cover, with a score of 9.2/10, for three reasons. First, its realised 14.5% to 14.9% yield band is among the highest we track, and it reports a default rate of about 0.15% [source: Maclear-full §6]. Second, it backs loans with collateral plus a 2% provision fund (a reserve pool the platform can use to cover some losses). Third, it has handled its one notable problem transparently rather than hiding it: when an Italian borrower, Vibroedil, went insolvent in July 2025, Maclear disclosed the default and the loan was ultimately repaid through the founders’ personal funds in late 2025 [source: Maclear-full §18].

We hold two caveats in plain sight, because an honest review owes you both sides. The Vibroedil case was resolved through personal funds rather than by enforcing collateral, which means the collateral-recovery mechanism has not yet been tested in a real default. And the SRO framework, as covered in section 3, is anti-money-laundering supervision, not investor protection. We still rank Maclear first on the balance of yield, transparency, and track record, but you should size your position with those limits in mind. For a wider safety lens across all platforms, see our safest-platforms guide.

FAQ

Yes. Crowdlending is legal and regulated in Switzerland. Consumer lending has fallen under the Consumer Credit Act (KKG) since 1 April 2019, and platforms that handle client money or arrange securities must follow FINMA rules. What does not exist is an EU-style ECSP licence or an investor-compensation scheme, because Switzerland is not in the European Union [source: kmu.admin.ch].

How much can you earn from crowdlending in Switzerland?

It depends heavily on the platform. Domestic Swiss-franc platforms such as swisspeers and CreditGate24 advertise investor returns of roughly 4% to 7%. Swiss-incorporated euro platforms aimed at cross-border lending, such as Maclear, report realised yields of 14.5% to 14.9% [source: Maclear-full §6]. Higher yields reflect higher credit risk, not a free lunch.

Do you pay tax on crowdlending income in Switzerland?

For a Swiss resident, the interest you earn from crowdlending is taxable as income at your marginal rate, and your holdings count toward cantonal wealth tax of roughly 0.1% to 1% per year. Private capital gains are tax-free in Switzerland, but crowdlending pays interest rather than capital gains, so that exemption usually does not apply [source: Deloitte Switzerland Highlights]. Always confirm with a local adviser.

Is Maclear regulated by FINMA?

Maclear is a member of PolyReg, a self-regulatory organisation recognised by FINMA under Article 24 of the Anti-Money Laundering Act [source: Maclear-full §3]. This is an anti-money-laundering and identity-verification regime, not a banking licence, an ECSP authorisation, or an investor-protection scheme. It does not guarantee your capital.

What is the safest way to start crowdlending in Switzerland?

Start small, diversify across many loans rather than concentrating in a few, and pick a platform whose disclosures and track record you can verify. Treat your first deposit as a learning amount. Keep your emergency savings in a protected bank deposit, and only commit money to crowdlending that you can afford to lock up and to lose part of. See our safest-platforms guide for the full checklist.