EstateGuru has reported a bumper summer time, with buyers placing €18.9m (£16.2m) into the platform over July and August, financing 200 new property initiatives.
The European peer-to-peer lending platform mentioned that it repaid buyers €30.4m over the interval, together with €3m in earned earnings.
Learn extra: EstateGuru recovers €500k from defaulted German loans
“We noticed some buyers turning into extra cautious within the fall and winter, however now they’re again and actively investing cash in new initiatives,” mentioned EstateGuru chief government Mihkel Stamm.
“The rise of their lending exercise has largely been in the identical rhythm as the rise in exercise in the actual property sector.”
EstateGuru has been grappling with excessive default charges in its mortgage e-book, following a “turbulent” 2022 as a consequence of macroeconomic pressures. The platform, which slashed its worldwide workforce by greater than a 3rd final 12 months and diminished its exterior growth prices to maintain the enterprise, has taken measures to cut back investor threat.
“The number of initiatives has grow to be even stricter, we have now elevated the LTV necessities for ensures, and since July, the initiatives we provide have a score primarily based on Moody’s evaluation,” mentioned Stamm.
And final month, EstateGuru revealed that it had diminished the higher borrower limits on new loans and had determined to “not interact in large-scale growth initiatives, making certain a prudent and targeted method to venture choice.”
EstateGuru has seen €66m invested into its platform this 12 months so far. It has 160,000 customers worldwide, with 7,000 of them becoming a member of in 2023.