EstateGuru gears up for UK launch in 2022
EstateGuru is preparing to launch into the UK at the start of next year.
The European peer-to-peer property lending platform, which has funded €424.4m (£365m) to date, is currently recruiting a team in the UK and is preparing its first project.
Marek Partel, chief executive and co-founder of EstateGuru, said the UK is “an important milestone in [EstateGuru’s] long-term growth strategy” and that the firm is planning to open offices in Manchester and London.
Read more: German market helps EstateGuru loanbook grow by 85pc
“The UK is a very competitive market, but it is also a very large and steadily growing market so we believe that there is room for EstateGuru,” Partel said.
“We provide fast and flexible access to funding for small- and medium-sized enterprises and a very good risk/return ratio for our investors. We have an excellent track record of over eight years in multiple countries across Europe already.”
EstateGuru gained regulatory permissions in the UK in 2019 but paused its expansion plans due to the pandemic.
After raising €5.8m from its series A funding round last month, it is ready to restart its UK market entrance process, said Partel.
Other European P2P platforms are eyeing the UK market, including Estonia’s Income.
Meanwhile, Latvia-headquartered Mintos is not open to UK investors but added UK litigation funder Fenchurch Legal as a borrowing company on its European marketplace in July.
Read more: EstateGuru raises €1.3m from Seedrs funding round