Twino issues €3.5m of new securities in February

Latvia-based investment platform Twino issued securities worth €3,550,000 (£3.12m) in February, paying investors €180,450 with an average interest rate of 12 per cent, according to its latest monthly update.

Its total outstanding portfolio (as of 1 March) was €32,390,262. The platform has a total 22,062 registered investors.

Read more: Twino issues more than €17m of securities

In 2021, Twino restructured its business to transition from a peer-to-peer lender to a regulated investment platform. It is now a fully regulated investment brokerage firm, meaning it can package its loans in the form of regulated financial instruments, which the platform calls ‘securities’.

In a blog post on its website, Twino also revealed that it is working on a new ‘sustainability and appropriateness’ assessment, including a review of the investment limits and restrictions that are currently in place on its platform. It said this is the final step it must complete before it applies for permission to offer its services cross-border.

Read more: Twino implements EU tax rate reduction for investors

Additionally, Twino said it is currently waiting for regulatory approval that would allow it to list Polish loan securities at different interest rates depending on the term of the underlying loan, as well as other factors. “This would ensure better portfolio diversification by giving you an opportunity to invest in securities with different interest rates and terms,” it said.

The company also revealed that it is developing a new product that will allow investors to diversify their portfolio in a strategic way. “While we can’t share the exact details yet, we can hint that the product is related to real estate rentals and the growing rental market,” it said.

Twino also gave investors an update on Russian loans in its portfolio.

“We’re receiving timely repayments from Russian Loan Originator within the monthly payment limitations of RUB10m set by the Central Bank of Russia,” it said. “Each repayment is allocated to investors once per month, on a pro-rata basis. As of today, over €1.1m of war-affected loans have been repaid.”

Read more: Twino appoints new CEO and risk director