InRento became profitable last year
Buy-to-let crowdfunding platform InRento swung into the black last year, with net profits exceeding €170,000 (£145,800).
The European lender also reported that its revenue more than doubled between 2022 and 2023, from €322,567 to €758,456.
Over the course of 2023, InRento increased its share capital more than 10-fold from €65,000 to €694,673. It also confirmed that it met its regulatory requirements with the European Parliament and Council.
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Chief executive and founder Gustas Germanavičius praised the company’s various milestones, and noted that the platform has maintained its record of zero losses for investors.
“There are no late or defaulted projects on the InRento platform and the average return on investment at the time of publication of this report is 11.29 per cent per annum,” said Germanavičius.
“Up to date our investors have earned more than €1.6m by investing in the platform.”
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InRento was the EU’s first licensed buy-to-let investment platform. It acts as an intermediary, allowing investors to earn rent and capital gains from properties, with a minimum investment of €500.
To date, more than €23.9m has been funded via the platform, with an average of 164 investors contributing to each project. The vast majority of properties funded by InRento are in the residential sector, with commercial properties, hotels, and medical properties making up the remainder of the loan portfolio.
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