By Aisling Finn on Monday 14 September 2020
Latvia is a growing market for the alternative lender, with the fintech having financed over €37m in loans in the country.
Peer-to-peer lender EstateGuru has strengthened its Latvian operations with two new executive appointments.
Current country head of Latvia, Dainis Rupainis has been handed the role of business development manager, with Aleksandrs Mežapuķe stepping into the country head role.
Mežapuķe previously worked at Rietumu Bank JSC for seven years in the corporate finance and real estate departments and, for the past two years, he was CEO of R.Evolution City, one of the largest luxury real estate developers in Latvia.
The incoming country head of Latvia, Mežapuķe said: “The Latvian market has witnessed several scam-schemes in the industry this year, and I consider it my mission to educate the market about the opportunities provided by trustworthy alternative financing.”
“Our business loans, development loans and stage loans will help scores of SMEs and young entrepreneurs to build their businesses while providing the opportunity to invest in loans which are backed by the 1st rank mortgages to investors everywhere.”
Since 2014, the lender has expanded to seven European countries and facilitated over €237m in loans, dishing out more than €17m in interest payments to its 57,000 investors.
Mihkel Stamm, COO of EstateGuru, said: “We see the need for alternative financing globally and EstateGuru aims to play a key role in the development of this category by becoming the largest real estate financing platform in Europe by 2025.”
“EstateGuru is on the verge of a substantial breakthrough in geographical expansion and capital markets development.”