No Polish loans can be accessible on the PeerBerry platform from 1 January 2024, because of incoming regulation.
Nevertheless, the lender plans so as to add extra geographies within the coming months, providing new lending alternatives in Mexico, Tanzania, Nigeria, Colombia and South Africa.
In a be aware to traders, PeerBerry’s chief govt Arūnas Lekavičius stated that the corporate’s father or mother Aventus Group is targeted on diversifying because of “adjustments in worldwide markets and the geopolitical scenario”.”
“In recent times, Aventus Group has actively labored towards enterprise diversification, increasing its enterprise in new markets,” stated Lekavičius.
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“Along with our long-term companions, final and this yr, we provided our traders to spend money on loans issued in Romania, the Czech Republic, Spain, Kenya, and India. Very quickly, we’ll add extra geographies to the platform – we’ll begin providing investments in companies in Mexico, Tanzania, Nigeria, Colombia, and South Africa.”
Lekavičius added that firstly of subsequent yr, new laws will come into pressure in Poland which imply that Polish lenders will now not be capable of borrow funds from traders by means of platforms.
“Any ‘creativity’ in funding Polish lending enterprise by means of platforms places the lending firm vulnerable to dropping its license,” he defined.
“We knew about coming regulatory adjustments in Poland for fairly a very long time, and our companions have been making ready for it.
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“Our Polish companions depend 10 years of excellent enterprise efficiency and are among the many market leaders in Poland with strong two-digit million internet earnings – they’re in no want of exterior funding to develop additional efficiently. In current months, our Polish companions have been step by step decreasing their publicity on PeerBerry.”
At the moment, the share of Polish loans on the PeerBerry portfolio is roughly 16.6 per cent, or €15.9m (£13.81m).
“We are going to nonetheless proceed itemizing Polish loans in small volumes; nevertheless, all Polish loans can be repaid to traders earlier than the tip of this yr, and there can be no Polish loans on the PeerBerry platform from 1 January 2024,” added Lekavičius.
He informed traders that the whole mortgage providing won’t lower on the platform, and famous that PeerBerry has “disconnected” different nations previously.
“I wish to remind you that firstly of the struggle in Ukraine, Ukrainian and Russian loans represented 50 per cent of our portfolio,” he stated.
“Within the first quarter of this yr, we additionally disconnected Vietnam, representing a fairly important share of our portfolio. After disconnecting all these nations, we had a lower in mortgage provide, however solely briefly.”
New lending companions in Mexico, Tanzania, Nigeria, Colombia, and South Africa will guarantee a adequate mortgage provide in the long term, the platform added. Aventus Group can also be increasing its enterprise in Sri Lanka, and new lenders from Romania and the Philippines will be part of the platform subsequent yr.
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