EstateGuru raises UK lending target to £50-60m

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EstateGuru aims to originate between £50m and £60m in loans during its first year of business in the UK – after previously setting a lending target of just under £15m.

In March 2022, Ross Gandy, country manager for the platform in the UK, said the team was aiming to finance over €17m (£14.65m) in loans this year and to “seriously challenge” some of the country’s biggest players.

However, in a new interview with Development Finance Today, Judith Tan, head of capital markets at EstateGuru, said that the company now “hopes to originate circa £50-60m during the first rolling year of business.”

Tan added that the platform aims to become “truly international” and to increase overall lending by 100 per cent per year, with the aim of reaching funding volumes of €5bn annually by 2025.

The European peer-to-peer lending platform launched in the UK in March with an office in Manchester and another in London on the horizon.

Tan said that expanding into the UK was “one of the important milestones of the long-term strategy of EstateGuru”, and confirmed that the platform intends to have a presence in all the main markets in Europe by 2025.

She added that EstateGuru is already seeing “strong interest” from UK-based institutional investors, and teased a number of upcoming funding partnerships which will provide credit lines of between £100m and £200m for UK projects.

Tan also said that the platform is actively shifting its funding model towards institutional funding in the coming years, as it aims to achieve significant scale and volume.

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