EstateGuru has secured a brand new funding line with Czech funding financial institution J&T Banka to fund actual estate-backed loans within the Baltics.
J&T Banka initially invested €2.5m (£2.2m) in EstateGuru’s Finnish and German loans, which began in September 2022.
The extra capability will assist EstateGuru’s marketing strategy for 2023, by funding the European property funding platform’s Baltic loans.
Learn extra: EstateGuru sees property growth slowdown in Baltics
EstateGuru’s head of capital markets Judith Tan famous that the platform had extra 155,000 retail buyers, whereas additionally attracting institutional gamers.
“With a confirmed observe document of success within the Baltics, we now have already issued €500m in loans, €344m of which has been efficiently repaid at a median historic rate of interest of 10.98 per cent. This stage of efficiency has made our platform a sexy choice,” she stated.
Tan additionally identified that EstateGuru has a number of institutional companions, with Varengold Financial institution being a collaborator since 2018.
“J&T Banka has recognized the Baltic international locations as a doubtlessly enticing funding alternative given the stable historic efficiency of the Baltic international locations’ portfolios and the expertise and experience of the platform on this area,” stated J&T Banka board member Tomáš Klimíče.
Learn extra: EstateGuru reaches €500m funding milestone