Homepeer to peer lendingEstateGuru lending hits 6-month high

EstateGuru lending hits 6-month high

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EstateGuru investors funded nearly €20m (£17.1m) worth of loans in May, its highest volume in six months.

The European peer-to-peer lending platform, which recently expanded into the UK, said its best-performing market was Estonia, with €7m of loans funded, followed by Lithuania (€5m) and Finland (€3.6m).

This compares to a total of €16.7m lent out in March and €14.7m in April.

More than €22m was lent out in November 2021.

Repayments also improved during May, with borrowers paying back €14.6m-worth of loans.

Read more: EstateGuru aims to double loan volumes this year after bumper Q1

“We expect this positive trend to continue into June,” EstateGuru said in a blog post on its website.

In last month’s update, EstateGuru said that it has focused on its late loan management and it expected the late loan amount to decrease during the second quarter.

It appears its efforts are working as its default rate decreased to 5.2 per cent in May from 5.9 per cent in April.

However, EstateGuru noted that the late loans rate has increased since March, after the war started in Ukraine.

“We can assure you that we are tackling the problem and are in constant contact with all the borrowers to solve the issues and receive the late payments,” the firm said.

EstateGuru launched a €3m fundraising campaign on equity crowdfunding platform Seedrs last month to “support intensive growth and expansion plans”.

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