EstateGuru investors financed record €22.2m of loans in November
In November, EstateGuru investors financed €22.2m (£18.9m) worth of loans – a monthly record – while the European peer-to-peer lending platform nears a €100,000 partial repayment of a Latvian project.
The platform’s biggest market, Germany, contributed €8.9m of funded loans, followed by Estonia (€4.2m) and Finland (€3.5m). EstateGuru’s outstanding loan portfolio has reached a new height of €209m.
Read more: EstateGuru investors financed €16.9m of loans in October
Meanwhile the platform is still waiting to receive repayments or partial repayments of three defaulted projects in Estonia that have a total amount of €500,000 where sales have been successfully concluded.
EstateGuru said it will register a partial repayment of €100,000 of one loan project in Latvia over the coming days.
The platform said in Finland, Sweden and Spain it is conducting negotiations with potential investors who are interested in buying the claims of its defaulted loans and that the default rate has dropped to 7.7 per cent.
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“During 2021, we have focused on developing our loan origination technology and recruiting new loan managers and credit analysts,” EstateGuru said in a blog on its website.
“This has helped us to support the high volume of loan projects while maintaining an excellent risk-return ratio in service of our steadily growing investor base.”