EstateGuru is planning its first projects in the UK after reporting “strong and stable” loanbook growth in the second quarter of this year.
The European peer-to-peer lender said it saw a 180 per cent annual increase in loan volume during the second quarter of 2021 from €16.5m (£14.1m) to €46.2m.
The platform said it is planning its first entry into the UK market and has its first projects in the pipeline.
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It is also planning to lend in The Netherlands.
EstateGuru currently lends in Estonia, Latvia, Lithuania, Spain, Germany, Sweden and Finland.
Germany remains its largest investor market, with a 28 per cent annual increase in users from the country to 7,935.
The next largest groups are Estonians, Italians, Lithuanians, Dutch, Spanish, and Portuguese.
EstateGuru also reported that revenues increased 133 per cent annually in the second quarter to €1.7m.
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The German market was the largest contributor with €15.2m, followed by Estonia with €12.9m.
It comes after EstateGuru raised €1.3m from 971 investors in a Seedrs fundraising campaign in May.
“To reach our maximum target is a proud moment and shows that our business model and growth plans have struck a chord with investors who share our optimism about the alternative finance industry,” Marek Pärtel, co-founder of EstateGuru, said.
“I’m happy to see that we are attracting so much talent as, going forward, we need to scale our business and we will require passionate and charismatic professionals to take the alternative financing industry to its next level.
“At the moment we are focusing heavily on our expansion roadmap and are preparing the first projects in the UK and the Netherlands.”