EstateGuru reaches €500m funding milestone
Pan-European property investing platform EstateGuru has funded more than €500m (£438m) in loans in the Baltics.
Of this amount, €344m has been successfully repaid, and the outstanding portfolio is €159m.
More than half of the platform’s lending has been done in Estonia, with €288m lent. €126m has been lent in Lithuania, and €88m has been loaned to Latvia-based borrowers.
“The Baltic states are our most long-established and important markets,” said Mihkel Stamm, chief executive of EstateGuru.
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“Our business model plays an essential role in financing real estate developers in the Baltics, where bank financing is particularly conservative. We have also established fruitful working relationships with several banks, and created a high-performance funding ecosystem alongside them.”
EstateGuru was founded in Estonia in 2013, and funded its first loan in January 2014. Since then, the firm has expanded into Latvia and Lithuania.
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“We pioneered this business nine years ago and have accumulated a wealth of experience in the financing process,” added Stamm.
“We continue to see opportunities to grow our financing volumes in the Baltics, as these are markets with huge potential for economic growth. Reaching this significant milestone is the perfect start to 2023 and sets the tone for the year ahead.”
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