EstateGuru hails busy summer as interest repayments hit €17m
EstateGuru had one of its busiest months for loan repayments in July despite the traditional summer holiday slowdown.
The pan-European property peer-to-peer lender said borrowers repaid 55 loans worth €7.8m (7.04m) last month.
EstateGuru said investors have now earned €17m of interest since the Estonia-based platform launched in 2014.
It also revealed that investors funded €8m of loans last month and said demand has continued this month.
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The platform lends across the Baltics, as well as in Spain, Portugal, Finland and Germany.
Of the one million investors backing 1,651 loans on the platform since launch, EstateGuru said 171,212 come from Estonia, followed by 53,649 Lithuanians and 10,212 clients from Latvia.
Even though the number of investors in Latvia, as well as the total amount and number of investments, is the smallest among the Baltic states, Latvian investors invest the largest amount on average at €671,14.
In both Estonia and Lithuania, the average investment is lower at €479,18 and €357.24 respectively.
“EstateGuru expects investors in Lithuania and Latvia to catch up to their Estonian peers in the near future when it comes to numbers and volumes, which is why the Baltics remain a key focus for us,” EstateGuru said in a blog post on its website.
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