EstateGuru closed Q1 with lending volumes up 70% year-on-year

Peer-to-peer lender EstateGuru saw a solid start to 2021, with revenues and loan volumes both up over 70 per cent.

That equated to €46.2m lent out in the first three months of 2021, up from €27.2m in 2020, and revenues of €1.6m.

“More and more spheres of business are discovering that there is tremendous potential to transform and disrupt the status quo using market mechanisms and digitalization,” said Marek Pärtel, CEO and co-founder of EstateGuru.

Investor-wise EstateGuru also welcomed 10,496 new investors onto its platform in Q1, up from 8,092 in 2020.

Most new investors came from Germany, with 2,123 new backers, with Estonians, Italians and Lithuanians being the next largest groups.

Investors earned €2.9m in interest during the first quarter earning an average return of 10.15 per cent, again up from €2m in 2020.

Pärtel also announced that EstateGuru is planning a second round of fundraising at Seedrs in May, after their last €880,000 crowdfunding campaign in 2020.

“In addition, we continue our geographical expansion and will open two new markets this year,” the CEO added.