Despite the Covid-19 crisis, EstateGuru has achieved a strong third quarter, seeing revenues rise by 46 per cent year-on-year and loan amounts climb by 24 per cent from the same quarter last year.
The European peer-to-peer property lending platform saw monthly loan amounts of over €10m (£9.04m) in both August and September and has now facilitated one million investments since 2014.
7,777 new investors joined EstateGuru during the third quarter, up by 52 per cent from 5.109 new lenders during the same period in 2019.
The largest number of new investors (2.256) came from Germany. The next biggest groups are Estonians, Italians, Lithuanians, Dutch, Spanish, Latvian and investors from 99 other countries.
In the third quarter, EstateGuru investors earned €2.6m in interest, up from €1.8m during the same quarter last year.
194 projects totalling €28.4m were financed during July, August and September, compared to 178 projects worth €22.8m during the same months in 2019.
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“I’m very proud of our international team who’ve done such a great job throughout these troublesome times,” said Marek Pärtel, co-founder and chief executive at EstateGuru.
“I can say today that EstateGuru has come out of the crisis much stronger than we entered it.
“We also saw a solid inflow of new investors, a 52 per cent increase compared to the third quarter in 2019, but most importantly, our technology and digitalisation has made it possible to invest in property-backed loans for anyone, anywhere in the world.
“We’ve got already 61,000 investors investing on our platform, the biggest number of new investors joining from Germany, Estonia, Lithuania, Italy, Netherlands and Spain these days.
“And of course, looking into the future, we remain focused on cost-efficient growth and the stable quality of our credit portfolio.”
The Estonia-based P2P property lender, which already lends in Estonia, Latvia, Lithuania, the UK, Germany and Spain, launched in Finland in September and is now officially licensed as a crowdfunding operator in that country.
“We’ve been actively talking to Finnish entrepreneurs since August 2019 and we’re confident that the Finnish market is ready for a modern operator such as EstateGuru,” said Matti Vansén, country head of Finland at EstateGuru.
“We wish to bring the benefits of alternative financing to a broader audience and offer a true alternative to the conventional loan market that may often be perceived as stiff and bureaucratic.
“Our new investor numbers have tripled, so Finnish investors appreciate a low-barrier entry into the world of real-estate investing highly.”