By Aisling Finn on Thursday 23 July 2020
The alternative lending platform is set to be available in all 29 EU countries imminently.
Nordic peer-to-peer lending platform EstateGuru has implemented fellow European fintech Lemonway’s payment facilities as it nears full European launch.
Founded in 2014, EstateGuru provides loans from €50,000 up to €3m in seven European countries, Estonia, Lavia, Lithuania, Germany, Finland, Spain and Portugal.
The new payment system will allow the fintech to facilitate the imminent launch of its services across the 29 countries currently in the European Union.
Marek Pärtel, co-founder and CEO of EstateGuru, said: “To be fully compliant with the regulatory requirements in all the operating countries, and to offer our investors the best possible service, we will start using a licensed payment service provider for storing funds differently from the current set-up.”
With the new platform, investors will receive a virtual Lemonway IBAN and all investor deposits will be held by BNP Paribas Bank.
Antoine Orsini, Co-founder and CEO of Lemonway, said: "Supporting EstateGuru payment operations, we totally deliver our mission which is to facilitate, and secure transactions carried out on the marketplace for each of the stakeholders (investors, borrowers, marketplace).
“PSD2 requires to be precise and agile, and working with EstateGuru has been fantastic as they needed a partner who can adapt to the intricacies of regulations in Europe.”
Lemonway’s payment solution is currently used by over 1,400 websites across Europe, including 200 alternative lending platforms.
Even more recently, EstateGuru integrated Onfido’s ID verification to its platform as it continues to bolster its platform ahead of its pan-European launch.