Twino changes Polish loan terms and rates
Twino has introduced a new range of loan terms and rates on its Polish loan securities having received permission from the regulator.
The Latvia-based investment platform’s loan terms range from three to 12 months, with corresponding rates now offered at between eight and 14 per cent.
The platform is also expected to introduce a 36-month loan in the near future.
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Poland country manager Iza Sienkiewicz said the platform was seeing strong demand for loans supporting digital credit card Fincard, which launched 10 months ago this month.
“Over these months, the product has had an exceptional level of demand from the borrowers, thus we are currently growing our portfolio size,” Sienkiewicz said. “We are thrilled to see that the demand from Twino investors’ side is strong and, thus, we are planning to diversify the term and rate structure of our liabilities.”
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In 2021, Twino restructured its business to transition from a peer-to-peer lender to a regulated investment platform. It is now a fully regulated investment brokerage firm.
Earlier this month, it reported that it had issued securities worth €3,550,000 (£3.12m) in February, paying investors €180,450 with an average interest rate of 12 per cent.
Its total outstanding portfolio (as of 1 March) was €32,390,262. The platform has a total 22,062 registered investors.