Belgian P2P Mozzeno reaches €100m lending milestone
Belgium-based peer-to-peer lending platform Mozzeno has passed its €100m (£87.63m) lending milestone, just five years after its launch.
Almost €90m of these funds have been loaned out since the end of 2020.
Mozzeno said that around 95 per cent of funds raised are used for personal loans, with the average loan size being €10,430. Loans to businesses and the self-employed currently make up the remaining five per cent.
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The platform is now seeking to expand its workforce, and will be hiring for 10 new posts in the near future as it continues to scale. It also plans to introduce new services and technology solutions.
“These results have only strengthened Mozzeno’s conviction and belief in its goal of becoming Belgium’s leading digital lender,” said a company spokesperson.
“Various innovations are in the pipeline to make this happen, such as an instant credit solution embedded in e-commerce websites. Others involved in the lending market will also need to update their processes.
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“Mozzeno gets this and is making its technology available to them in the shape of modules.”
The company added that since its launch in 2017, it has built up a community of more than 10,000 investors, who have earned average gross returns of 3.75 per cent.
In early September, the lender followed the market trend and raised rates offered to borrowers by 0.25 per cent.
“This is good news for investors who have seen a simultaneous rise in potential returns on their new investments,” the platform said.
“The aim is to keep up with changes in market rates.”
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