One of Europe’s newest peer-to-peer lenders has already grown its loanbook to €14m (£11.7m) after only launching in March this year.
Dublin-based P2P lender Esketit lets investors back short-term loans sourced by European consumer lender Creamfinance.
Its average investment amount from users is €15,000, which it claims is larger than the typical €1,900 to €2,800 invested through its rivals on the continent.
The platform offers returns of 14 per cent but there is no detail yet on defaults or arrears projections on its statistics page.
The loans are made in countries including the Czech Republic, Mexico and Spain.
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Currently investors on Esketit come from Germany, Spain, Portugal, France, The Netherlands and the Baltic states of Estonia, Latvia and Lithuania.
Vitalijs Zalovs, chief executive of Esketit, said the platform plans to grow its loan portfolio to 20m.
“We see ourselves as a trustworthy partner for experienced investors who we know are already diversifying their investments portfolios and have risk management tactics,” Zalovs said.
“We want to scale these relationships and open up for a wider base of investors who look for higher interest and higher investment opportunities along with transparent and clear risk management of their funds.”