EstateGuru is looking to double its loan volumes this year, after a “solid” first quarter where it lent out €50.2m (£43m) and reached record levels of assets under management.
In the first three months of the year, the European peer-to-peer lending platform financed 348 projects with a total loan volume of €50.2m, up from 239 projects worth €46.2m in the first quarter last year.
The platform’s assets under management increased by 80 per cent over the period, with the value of the loan portfolio growing from €139m to a record level of €251m.
Read more: EstateGuru launches €3m Seedrs campaign
EstateGuru, which expanded into the UK earlier this year, said that revenues increased by 26 per cent year-on-year to €2m in the first quarter, up from €1.6m in the same period last year.
Investor payments rose from €2.9m to €4.5m year-on-year, and the average return on repaid loans was 9.64 per cent in the first quarter.
Marek Pärtel, co-founder and chairman of EstateGuru, said the platform is looking to double its loan volumes this year.
“These solid first-quarter results and record level assets under management demonstrate that even in a challenging environment the demand for alternative financing remains unbroken,” he said.
“Now more than ever, small- and medium-sized enterprise (SME) companies across Europe are looking for flexible financing options and reliable partners, who understand the specifics of real estate business.”
He also said that EstateGuru will have an increased focus on institutional investors going forward, because the platform is experiencing a level of demand for property loans that can no longer be met by private crowd investors alone.
“With funds from professional investors, we will see more growth in the coming months and can help even more SMEs take advantage of alternative lending options,” he added.
In an earlier update, EstateGuru revealed that it attracted 16,300 new investors in the first quarter of 2022.