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Peer2Peer Finance News | November 22, 2017

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EstateGuru hits €30m lending milestone after record month

EstateGuru hits €30m lending milestone after record month
Suzie Neuwirth

ESTATEGURU has hit the €30m (£27m) lending milestone, thanks to a record month in August.

The platform, which specialises in financing secured property loans in the three Baltic states but is open to UK investors, funded nearly €4m in August alone.

The company, which has attracted 7,900 investors from 39 countries, said on Wednesday that it is expecting strong growth in loan volumes due to expansion into new markets and establishing better processes in the Baltics.

Read more: Increasing number of Brits backing European P2P loans

“We are content with the results of August, as growing loan volumes are an indication of the growing trust from investors towards EstateGuru’s professional team and business model,” said chief executive Marek Partel.

Read more: EstateGuru investors have now earned more than €1m

“We are convinced that EstateGuru is a means to solve a rapid problem in the real estate and investment field and therefore we believe that our community will keep on growing as more investors and borrower intend to make use of the platform’s services.”

Partel added that the firm is in ongoing discussions with institutional investors to cover the growing loan volumes.

EstateGuru has lent out €20m over the past year and has nearly 10m worth of loans in the upcoming loan pipeline, he said.

Read more: Europe still trails UK in alternative finance, but P2P is growing across the continent