European peer-to-peer property lender EstateGuru funded over €14m (£12m) of loans in April and said the German market has become the main contributor of new projects on its platform.
The firm financed €5.5m of loans in Germany and €3.9m of loans in Lithuania during the month.
It said its investors’ outstanding loan portfolio grew to nearly €150m.
In April, borrowers repaid 64 loans equating to €8.8m, with an average return of 10.8 per cent.
EstateGuru also revealed that it has recovered €200,000 from one of its Estonian defaulted loans, and €900,000 from one of its Lithuanian loans.
It said there was no major progress in Latvia or Finland during the last month in terms of loan recoveries.
The platform’s default rate has decreased to 7.1 per cent.
Earlier this month, EstateGuru launched a €1m fundraising campaign on equity crowdfunding platform Seedrs.
The Estonia-based marketplace for short-term, property-backed loans said that it wants to raise money to fund an intensive technology roadmap and expansion plans. Its ultimate goal is to develop a “digital, borderless ecosystem for real estate financing and investing”.