Mintos lenders earned €2.8m (£2.3m) in interest at an average rate of 10.7 per cent in April.
In April, the European lending marketplace funded 300,000 loans worth €63.6m with Spain, Latvia and Poland making up the top three markets for investments. The average net return for this year so far is 2.4 per cent.
Peteris Mikelsons, account management team lead at Mintos, said that activity in April was “similar to the second half of March”.
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“During April, investor sentiment slowly yet surely started to return with outstanding investments increasing to €374m (excluding loans from Russia, Belarus, and Ukraine),” Mikelsons said in a blog on Mintos’ website.
“The average interest rate continued to increase, reaching its peak at the end of the month of 12.2 per cent for loans denominated in the euro, and several lending companies continued or started to offer cashbacks for their loans.”
After a successful campaign in March, two of Mintos’ lending companies – Creditstar and Mogo Kenya – have launched their second cashback deals of the year.
Creditstar, a lending company from Estonia specialising in consumer loans, has launched a campaign until the end of May that will allow lenders to earn a cashback of one per cent on loans with a maturity of six to 12 months, and two per cent on loans with a maturity of more than 12 months.
Meanwhile, until 1 June Mintos investors can earn cashback of up to five per cent depending on the maturity of the loan on investments from Mogo Kenya, a vehicle financing lender in Kenya.