EstateGuru achieved a nine per cent year-on-year rise in lending in the first quarter of 2022, after financing €16.7m (£14m) of loans in March.
This represented a slight drop from the €17.3m deployed in February.
Furthermore, in the first quarter EstateGuru saw a 27 per cent annual rise in revenue compared with the same period of 2021.
In March alone, the peer-to-peer lending platform welcomed more than 4,000 new investors, amounting to nearly a quarter of the total number of new lenders for the whole of the first quarter (16,300).
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“The figures we have seen in March, and indeed the whole of the first quarter, are promising and set us on a good path for achieving our ambitious growth target to triple in size this year,” said Marek Pärtel, co-founder and chairman at EstateGuru.
“Similarly, strong debt management across the board, particularly in Estonia, has reduced the default rate to five per cent to bring it in line with our long-term targets.
“Hopefully, with an increased focus on institutional investment over the next few months, we’ll see more growth in the coming months and can help even more small- and medium-sized enterprises take advantage of alternative lending options – currently still a mostly untapped opportunity.”
Earlier this month, EstateGuru hired Judith Tan as its head of capital markets to support its recent UK launch, maintain its presence across Europe and target originations of €5bn.