Market overview: Poland

Welcome to the continuation of our market overview series, where we analyze global economic markets with an emphasis on alternative lending. In this edition, we turn our lens towards Poland, a country steeped in vibrant history, cultural richness, and a blossoming economy.

Economic resilience: Poland’s robust market

Poland is one of the largest economies in Central Europe. With a unique blend comprising a large domestic market, an educated workforce, and a robust export sector, the country has exhibited considerable economic growth over the last three decades.1

Poland was the only EU country to avoid a recession during the 2008-2009 financial crisis by maintaining a sound banking system, limited exposure to subprime mortgages, strong domestic demand, and a flexible exchange currency.2 The country also exhibited remarkable resilience through the COVID-19 pandemic, with a GDP contraction of -3.5% in 2020, compared to the EU total of -6.4%. 3,4

Poland’s vibrant economic environment stems from its diversified economic structure. It has three major sectors: manufacturing, services, and agriculture. The manufacturing sector, notably, has gained significant momentum over the years. Poland has become one of the biggest producers in the European automotive industry, which added 17.6% to the country’s total GDP in 2022.5,6

Fueling innovation: The rise of fintech in Poland

Poland’s robust banking sector, as the biggest market in the Central and Eastern Europe (CEE) region, acts as a hub attracting talent and investment. Polish consumers are highly receptive to innovation and adept at using digital solutions. With diverse segments like payments, financial management, and software providers leading the way, the future looks promising for Poland’s fintech landscape.7

Poland’s fintech industry has grown rapidly in recent years, with the number of companies nearly doubling, from 167 in 2018 to 299 in 2022.8 This grown can be attributed to a number of factors, including the country’s thriving economy, its large and growing banking sector, and the increasing demand for tech-enabled services.

The Polish banking sector has total assets of over €600 billion, which has created a favorable environment for fintech companies to flourish, as they can tap into a large and growing market.9

In addition, Polish consumers are highly receptive to innovation and adept at using digital solutions. In 2022, 64% of the population used digital payment transactions. This shows that there is a strong demand for tech-enabled financial services in Poland.10

As a result of these factors, Poland is now a leading hub for financial technology innovation. The industry is diverse, with companies operating in a variety of segments, including payments, financial management, and software providers. The future looks promising for Poland’s fintech landscape, and the industry is expected to continue to grow in the coming years.11

Poland's alternative lending landscape

The alternative lending market in Poland is evolving at a significant pace. As in other developed markets, alternative lending in Poland includes peer-to-peer lending, crowdfunding, and investments in loans.

The non-banking lending industry is increasingly becoming a vital component of the financial landscape. With 523 licensed institutions authorized to provide consumer loans, this sector has gained prominence by filling the gaps left by traditional banks and catering to the needs of individuals who may be considered higher-risk borrowers or require low-value and short-term loans.12

The market is dominated by 56 alternative lending startups.13 These lending institutions have successfully targeted younger consumers, with 61.7% of borrowers being under the age of 40. To cater to this youthful demographic, AI-based scoring models are frequently employed, allowing loans to be granted within minutes.14

In 2021 alone, the non-banking lending industry in Poland issued over 2.9 million loans, with a total value exceeding €1.6 billion. The majority of these loans, 73.1%, were for amounts under €900, indicating a focus on providing smaller financial solutions. The “Buy Now, Pay Later” segment accounted for 45% of total loans issued, highlighting its popularity.15 The value of alternative lending transactions in Poland is estimated to grow to over €270 million in total by 2026.16

Regulatory framework's impact on alternative lending

The regulatory framework in Poland, supervised by authorities such as the KNF (Financial Supervision Authority Board), has had a positive impact on alternative lending in the financial services industry. The KNF’s broadened supervision over lending institutions from May 2023 ensures proper functioning, stability, security, and transparency in the financial market. This increased oversight promotes confidence and protects the interests of market participants, including consumers.17

Furthermore, the KNF’s Innovation Hub supports the development of innovative financial technologies, providing clarification and answers to relevant questions for fintech companies. This initiative fosters the growth of alternative lending platforms and encourages their adoption while ensuring adequate consumer protection.18

The procedures followed by the KNF during the authorization process benefit alternative lending entities by reducing burdens and processing time.

In cases where lending companies make substantial changes to their application, the KNF does not require them to submit entirely new applications. Instead, the applicants are allowed additional time to amend their existing application. This flexibility is advantageous compared to other European Economic Area (EEA) states, where multiple authorities typically request a new application if changes impact multiple documents submitted during the authorization process. This requirement in other EEA states can make the process longer and more burdensome compared to the process in Poland.

Embracing opportunities: Investing in Poland's promising market

As more individuals and businesses seek alternative funding sources, the alternative lending market in Poland is poised to become an integral part of the country’s economic development. 

There has been significant lending activity in Poland on Mintos in recent years, with a total of €113 million invested in Notes and claims on Mintos in 2022 and Q1 of 2023, signaling a burgeoning market with growing opportunities.

Lending company

Notes available for investment

Average interest


Sun Finance



Everest Finanse



If you’re an investor looking for new opportunities, Poland’s alternative lending market presents an array of options. With a strong economy, a growing fintech sector, and support from regulatory bodies, Poland is an attractive destination for investments.

If you’re interested in learning more about investment opportunities in Poland, explore the leading lending companies on Mintos.

1 Poland. (n.d.). Retrieved from

2 Pleitgen, CNN and Catriona Davies, F. F. (n.d.). How Poland became only EU nation to avoid recession – Retrieved from,domestic%20demand%20and%20flexible%20currency.

3 Why is Poland’s economy emerging so strongly from the pandemic? A comparison with the UK. (2021, May 19). Retrieved from

4 Preliminary flash estimate for the fourth quarter of 2020 GDP down by 0.7% in the euro area and by 0.5% in the EU -5.1% and -4.8% respectively compared with the fourth quarter of 2019 (2021, February 2) Retrieved from,and%20subject%20to%20further%20revisions.

5 Poland AUTOMOTIVE INDUSTRY. (n.d.). Retrieved from

6 World Bank Open Data. (n.d.). Retrieved from

7 How to do FinTech in Poland? (2023) Retrieved from

8 ibid.

9 Poland: banking sector assets 2022 | Statista. (n.d.). Retrieved from

10 Topic: Digital payments in Poland. (n.d.). Retrieved from

11 How to do FinTech in Poland? (2023) Retrieved from

12 ibid.

13 Alternative Lending Startups in Poland (2023, May 10). Retrieved from

14 How to do FinTech in Poland? (2023) Retrieved from

15 ibid.

16 Alternative Lending transaction value forecast Poland 2026 | Statista. (n.d.). Retrieved from

17 KNF. (2023, July 10). Retrieved from

18 Innovation Hub (n.d). Retrieved from


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