More than 1,100 Finnish investors funded 137 projects worth over €43m in loans.
Alternative lending having a boost over the last year and a half is not new news, but that won’t stop us from celebrating when it breaks new barriers.
Tallinn-based property lending platform EstateGuru has just celebrated its first year in Finland, with the fintech shouting about its successes.
In just a year in the country, EstateGuru has attracted more than 1,100 Finnish investors and funded 137 properties with over €43m worth of loans.
The lucky fintech investors have seen returns of 11.33 per cent on average for their investments in Finnish real estate through the platform.
“Strong further growth is expected, and EstateGuru has ambitious targets in Finland. We will also continue to grow our presence in the market and gain more visibility so that, hopefully, more companies start taking advantage of our product,” Matti Vansén, country head of EstateGuru in Finland, said.
“It speaks volumes about our position in the market and the level of trust in our business that we are being asked to take part in the broader formation of policy in Finland, albeit only on an advisory level.”
The biggest project EstateGuru funded in Finland was worth €3.2m, with other projects totalling over €4.5m on the way.
In the second quarter of 2021, EstateGuru originated €46.2m in fresh lending, up 180 per cent year-on-year led by heavy growth in Germany, generating €1.7m in revenues for the firm.
EstateGuru has held the UK licence to launch its property peer-to-peer lending platform in the market since 2019 but says it is now finally ready to launch thanks to its fresh pot of cash.
Looking at the success in Finland, EstatGuru is looking to spread its wings even further across Europe.
For instance, Germany accounts for around 40 per cent of the company’s lending volume, yet it only has three staff in the country, which the lending platform plans to change soon.