EstateGuru loanbook hits €43m during first year in Finland
EstateGuru has funded more than €40m (£34m) of property projects during its first year in Finland and is planning more products to support investors.
The European peer-to-peer property lender launched operations in Finland in October 2020 and has already funded 137 projects totalling €43m.
The funding has come from more 1,120 investors.
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The largest project was for two commercial properties in Koskelo, Espoo, which raised around €3.2m.
EstateGuru is also currently offering two property projects in Finland that are worth closer to €5m.
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The platform has also been asked to help implement European Union crowdfunding regulations in Finland.
“Strong further growth is expected, and EstateGuru has ambitious targets in Finland,” Matti Vansén, country head of EstateGuru in Finland, said.
“We will launch a revolutionary automated product for investors soon which will offer even easier portfolio diversification. We will also continue to grow our presence in the market and gain more visibility so that, hopefully, more companies start taking advantage of our product.
“It speaks volumes about our position in the market and the level of trust in our business that we are being asked to take part in the broader formation of policy in Finland, albeit only on an advisory level.”
EstateGuru raised €5.8m from a series A funding round, led by UK venture capital firm TMT Investments, earlier this month.