zagga.co.nz Reviews 12

I have been with Zagga since 2014, I find their platform easy to use, efficient and overall experience very good.
Yes some loans have defaulted, I did struggle with the process around guarantees and there worth, as some ended up men of straw, but overall , knowing the likely risks before investing I am very satisfied with this company and investment experience, comparison with banks leaves me well in front of them. Jordan is very efficient and helpful. I certainly recommend this platform, but understand the risk.

I had previously invested in private loans through Squirrel, another platform which provided peer to peer lending. Squirrel held about 20% of my total investment portfolio at the start of the year.

Zagga had appeal with its generally better rates on its investment options, so I decided to give them a shot early February and put $100,000 into various loans on the platform.

Zagga provides a great deal of information on each individual loan and everything feels very transparent. You know where your money's going.

The result? Smooth sailing throughout.

Interest was paid on time each month for each loan and I've just received my capital repaid for one investment - The rest have yet to mature.

Overall, I had a pleasant first experience and I'm happy with my returns. I will definitely be looking at diversifying more of my portfolio with Zagga loans in the future.

I have had several investments now all seamless and with good results.
I continue to invest with Zagga.

I was unsure at first, but the results have been excellent. Only issue is sometimes they fund very quickly. Great outcome and a smooth experience, I’ll be investing again for sure!

The team were incredibly helpful and clear throughout the entire process. I was guided every step of the way, which made everything simple and stress-free. The funding was processed quickly, allowing me to continue my project without delay.

Unfortunately, reading the reviews, I have had similar experiences with Zagga. I spread my capital over monthly investments to minimise risk of loss. The defaults came in quick succession. Communication ceases through Jordan as noted in previous reviews so you need to be proactive in escalating although by this time it appears the company do not wish to improve the process for individual investors. Some of the "live" investments are in default however state "live" with no updates recorded in the portal. This makes individual investor reporting very difficult. This tactic works in favour of Zagga for attracting new investors however does not give a true representation of defaulted loans. Updates for defaults are communicated via email, which is challenging when trying to reconcile investments. There is an outstanding issue with investments with regard to overestimating assets from valuations by significant amounts, which should have raised red flags. I have investments with no resolution that date back from 2021, are still up on the portal and listed as "live". Deeply disappointed by the Zagga experience, the overall concept is sound however the execution can be fatal if not administered professionally.

I had high hopes for Zagga as an investment platform, but unfortunately, my experience has shown that the risks far outweigh the rewards. I’ve invested over $150,000 across multiple loans, and while some borrowers repay as expected, it only takes a few defaults to wipe out a significant portion of your capital—exactly what happened to me.

The biggest issue? Some loans have remained unpaid for years, tangled in legal proceedings. Worse still, the security property valuations have been wildly overestimated, with one loan recovering only 36% of my capital. Although Zagga continues to chase the remaining funds—even going after valuers—the reality is that investors are left shouldering the losses.

Looking at my overall returns, I've had a similar amount in the bank over the past three years and have outperformed my Zagga investments, without the stress and uncertainty.

Bottom line: The potential returns do not justify the high risks. I strongly urge investors to think twice before committing their hard-earned money to this platform.

Update: 27 June 2025
Zagga has advised that their legal team believes all options have been exhausted and they will now be closing the file. Frankly, this is both disappointing and unacceptable.

A 64% loss to investors — with no clear explanation of how the sale price could be so far below valuation — raises serious questions about the quality of due diligence, loan structuring, and recovery efforts. The fact that they are walking away, closing the file, and calling it "unfortunate" shows a lack of real accountability.

It reinforces the view that protecting investors is not a priority. In my case, $16,000 is gone. Others may be affected too.

I will not be investing with Zagga again, and I will be warning others — publicly and directly — about this experience. People deserve to know the risks go well beyond what Zagga advertises, and that in the event of failure, investors are left to carry the burden.

I have just had my first Zagga Dalliance come full circle back to full loan repayment.

My experience of Zagga - Never Again

It was like trying to interact with a private Organization that is NOT set up for dealing with the General Public.

Communication issues.... Staff issues...

The worst issue ( and NOT a Credit to Zagga ) was initially dealing with Jordan Kiro-Fungalei

She just stopped responding to Emails when pushed for an answer!! Poor poor customer service.

Luckily for me I got Glenn Morris involved and he was the one saving grace from all my dealings with Zagga.

My advice = Avoid....

Like Anthony, I too have been on this P2P platform, really to test their processes, and see how much information I get sent about my money, and what notifications there are.

The interest rates are quite good, but you have a risk factor here especially if there is a default, but I was aware of that, probably didn't factor in that funds could be frozen whilst the debtor was being chased

first experience is an investment which was commenced on the platform in February, and interest was to be paid in March, however now that date has been changed to April, and no communication has been seen. I was expecting that interest payment albeit it small as I was testing, and it didn't appear, so given that the date has been changed I assume the interest will be then. It would be good to know that.

As a first experience its not a good one!!!

edit: not 1 hour after posting this review, I then got an email saying that the drawdown was delayed, but they had known that for some time and we didn't get any communication, and on the platform nothing had changed. lets see what comes on the new date now, I'm assuming that no interest is paid from the previous date to the new date, so I stand by my initial assessment, that there is a risk not readily known that as an investor that the commencement date we are given can shift I assume that any interest from the time the monies are received until drawdown just goes to the trustee, I hope I'm proved wrong, but doubt it.

Edit : well the monies did arrive in, albeit quite small, but I knew the size, it was just a matter of making sure the system worked. What I didn't know is that interest is paid 3 working days after the borrower pays their interest as an insurance, and I was told that after making a call, but I have re read the documents and that was not made clear. So the process is, when the borrower pays interest, the investor gets the payment 3 working days (minus RWT) later to allow for the direct debit to clear.

further edit: I have after talking to them and understanding their systems, wanted to give them another go for you can see the borrowers for that is where the risk lies, and that is an advantage.

edit 13/06 In the interests of being fair, you have to understand their system. interest is paid 3 working days after receipt but weekends normally change that so allow 6 days and then you get the interest. different to banks, and higher returns, but there is a system and you have to know what it is.

Edit 28/08 have a number of loans, at reasonable interest rates, but you have to understand the system. the loan can be delayed, or even cancelled so your money earns nothing, so that is a returns risk. so far all loans have been getting interest at the carded rates some are later than normal, so as long as you are not relying on the money, thats good. Its an above average return and regular monthly payments

It's generally a good investment option, with good returns, BUT don't count on getting your capital back on time. I have now had three in row with overdue capital repayments. The first two were about a month late. I am still waiting for one that was due on 8 June 23, it is now 30 Aug 23. There was no prior notice of how long it was going to take to get funds back, I have had to chase Zagga each time to find out, and even them it has been delayed further. Interest is paid but not at penalty rates it seems, and that doesn't help if large sums of your capital are required elsewhere.

I have invested in approx thirty Zagga loans over six years now and have always received monthly interest payments and final capital return on time. I really like the security of registered first mortgages over property and have experienced only two defaults. Zagga arranged the successful sale of one property returning my capital plus accrued interest with no problems. I am waiting settlement for the second one which has an LVR of only 27%.
A good company to invest with in above average secured loans

Zagga is money lending company that offers up a second teir lending option.
They look at people or companies looking to borrow money and then investigate the viability and security offered by the borrower. They then put the application out to their lenders to get offers to finance the loan[ Group Funding). Their credit manager was fantastic to deal with and open and honest and very good at communication.
There terms etc are competitive and upfront.
Highly recommended. Make the commercial banks look tardy, overstaffed and a inaffective.