TWINO has started offering Kazakhstan-based loans to investors, becoming the first European lending platform to offer peer-to-peer investment in the Central European country.
The short-term consumer loans will offer an average yield of 11 per cent per year and benefit from the platform’s buyback guarantee in case of borrower defaults.
The move comes after TWINO formally kicked off operations in the Kazakhstan in August last year, issuing €2m of loans since then.
It also coincides with the platform’s reaching a new milestone of €150m in funds within its five existing borrower jurisdictions – Latvia, Poland, Russia, Georgia and Spain – since it launched in 2015.
Read more: TWINO enters Spanish loans market
The platform has attracted about 9,000 investors to date from about 30 countries, with UK clients accounting for a 12.5 per cent slice.
“The expansion to Kazakhstan is a hugely important milestone for us,” said TWINO’s platform lead Jevgenijs Kazanins. “The Kazakh market is rapidly developing consumer lending environment.”
“We’re proud to be the first European P2P platform to expand to Central Asia, and we’re also proud to have celebrated our €150m funding milestone just two years after we started.
“We’ve generated a significant return for our investors during this time period and we continue to grow quickly across Europe and beyond.”