PeerBerry is ready to onboard “at the very least” 10 new lenders within the first six months of 2024, after exiting the Polish market because of incoming rules.
The European peer-to-peer lending market intends so as to add lenders from South Africa, Tanzania, Nigeria, and Colombia for the primary time subsequent 12 months, in addition to including new lenders from Mexico, the Czech Republic, Romania, India and Spain.
In 2023, PeerBerry onboarded seven new lenders from seven totally different international locations: the Czech Republic, India, Kazakhstan, Spain, Sri Lanka, Philippines, and Mexico.
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“PeerBerry plans to onboard at the very least 10 new lenders in H1 2024 to fulfill traders’ wants,” stated a platform consultant.
“The demand on the PeerBerry platform is excessive, and plenty of traders might presently face the difficulty of investing all of the funds held within the PeerBerry account.”
From 1 January 2024, incoming legal guidelines in Poland will prohibit Polish mortgage corporations from borrowing funds from platforms. PeerBerry advised traders that it has already accomplished the repayments of its final Polish loans.
Learn extra: P2P lenders depart Poland forward of recent guidelines
“Over €20m (£17.22m) of Polish loans plus accrued curiosity had been repaid to traders in November and December,” the platform stated.
“Beforehand, loans issued in Poland accounted for about 25 per cent of all loans funded by the PeerBerry platform.”
There at the moment are no Polish loans remaining in PeerBerry’s portfolio.
Learn extra: PeerBerry strikes nearer to full compensation of war-affected loans