EstateGuru aims to triple growth in 2022

EstateGuru has revealed that its investors are funding loans within a day and a half, as it plans to triple its growth this year.

The European peer-to-peer property lender said that projects are being backed within 33.5 hours on average.

It comes as the Tallinn-based platform – which lends in Estonia, Latvia, Lithuania, Spain, Germany, Sweden and Finland – reported a 58 per cent increase in revenue to €7.1m (£5.95m) for 2021.

The lender said it attracted 112,000 investors by the end of last year and funded €203m of loans, taking its total assets under management to €220.3m.

Marek Pärtel (pictured), co-founder of EstateGuru said the platform plans to triple its growth this year, including a launch into the UK market.

“We will facilitate the achievement of this growth target by continuous and increasing investments into loan origination technology, expansion into bigger European markets, hiring new talent, and establishing new institutional credit lines together with an increased retail investor community,” Pärtel said.

“Despite the ongoing coronavirus pandemic and the attendant uncertainty, the real estate markets in all of our operating countries are performing well, which supports our expansion plans to the UK, the Netherlands, Spain and Italy this year.”

EstateGuru is planning to launch in the UK in March this year.

The platform has been on a growth spurt in recent months, hitting near-record levels of lending, and raising €5.8m (£5m) from a series A funding round in September.