Estonian peer-to-peer lending platform Income is planning a new crowdfunding round.
The platform, which connects investors with unsecured consumer and business loans from third-party loan originators, is listed on the Seedrs website among soon-to-be launched projects.
Its pre-launch pitch says the platform’s mission is “to make alternative assets such as loans a safe and effortless option for real people, to protect their money from inflation or market crashes.”
Income currently lists loans from originators in Brazil, Estonia, Finland and Latvia and is exploring adding other firms.
Read more: Estonia-based P2P platform mulls UK launch
Investors have earned 11.81 per cent on average since Income launched last year and €4.4m (£3.6m) of loans have been funded so far.
“There is about €8tn in household bank accounts in Europe,” Income said in its Seedrs pitch.
“In the current low interest, high inflation environment, money is depreciating in value and making people in effect poorer.
“At the same time, there is €7tn in different active investments by European retail investors. In the current environment, it’s increasingly difficult to find a yield from a fixed income, while asset prices feel inflated.
“Investing in loans has been a safer option for institutional investors for a while and we are working tirelessly to bring that option in a simple format to retail investors.”
It comes after the platform launched a €400,000 crowdfunding campaign with investment platform SeedBlink in September 2021 to fund new hires, continue product development of its retail investor mobile app and further develop its institutional investor onboarding capabilities.