EstateGuru implements payment solution for expansion into other countries
EstateGuru has implemented the Lemonway payment service solution on its platform to help it launch smoothly in other European countries.
The European peer-to-peer property lending platform, based in Estonia, plans to expand into other European countries this year, with Germany prioritised.
EstateGuru will be implementing licensed payment services provider Lemonway to be compliant with the regulatory requirements it will face when expanding into other nations.
The platform added that transaction matching will be improved and money will be moved faster.
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“I’m pleased to announce that we’ve found the best possible partner in Lemonway, the pan-European payment institution whose solution is trusted and used by over 1,400 websites in Europe, including 200 alternative financing platforms,” said Marek Pärtel, co-founder and chief executive of EstateGuru.
Funds will also be stored differently, with investors’ deposits set to be held in BNP Paribas Bank.
The migration will happen over several phases, the first of which will involve investors from Lithuania migrating to Lemonway.
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“We are proud to partner with EstateGuru, the leading European marketplace for short-term, property-backed loans already active in seven countries,” said Antoine Orsini, co-founder and chief executive of Lemonway.
“Supporting EstateGuru payment operations helps us deliver our mission to facilitate and secure transactions carried out on the marketplace for each of the stakeholders (investors, borrowers, marketplace).”
Last month, EstateGuru raised €1,013,000 (£922,786) on Seedrs to fund its expansion plans.
