Lendermarket sees loan volumes recover in July
Lendermarket investors funded more than €15.3m (£12.8m) of loans last month, an increase from €10.2m in June.
The €15.3m figure marks a 38.97 per cent rise compared with the same time in July 2021.
The Dublin-based peer-to-peer lending marketplace, which connects private and institutional investors with consumer loans issued by European originators, said it added 31,366 new loans last month.
It reported that investors earned €631,495 in returns in July, which was an 160 per cent year-on-year increase.
In comparison, Lendermarket added 19,776 new loans in June and its investors earned €307,962 in returns.
Lendermarket saw its number of registered investors grow again over the past month and is now reporting more than 10,000 customers.
Read more: Lendermarket sees loan volumes dip in June
It has cumulatively originated close to €300m-worth of loans in the last six months, according to a blog post on its website.
Lendermarket currently lists loans from originators in a variety of European countries including Poland and Spain.
Read more: Lendermarket investors funded £11m of loans in May
“Lendermarket is not another intermediary for asset management, but an investment platform combining trustworthy borrowers from the European new age digital banking industry with investors who can benefit from this innovative financing opportunity,” according to the marketplace’s website.
However, Lendermarket is competing with a growing number of alternative lending marketplaces, which offer investors diversification across asset classes and countries.
Mintos is one of the best-known lending marketplaces in Europe, while Estonia-based Income launched in February 2021.
In May, Income’s founder Kimmo Rytkönen told Peer2Peer Finance News that his long-term goal is to get the marketplace’s loanbook to €450m.
Read more: European P2P platforms see rising volumes