EstateGuru has secured a new funding line with Czech investment bank J&T Banka to fund real estate-backed loans in the Baltics.
J&T Banka initially invested €2.5m (£2.2m) in EstateGuru’s Finnish and German loans, which started in September 2022.
The additional capacity will support EstateGuru’s business plan for 2023, by funding the European property investment platform’s Baltic loans.
EstateGuru’s head of capital markets Judith Tan noted that the platform had more 155,000 retail investors, while also attracting institutional players.
“With a proven track record of success in the Baltics, we have already issued €500m in loans, €344m of which has been successfully repaid at an average historical interest rate of 10.98 per cent. This level of performance has made our platform an attractive option,” she said.
Tan also pointed out that EstateGuru has multiple institutional partners, with Varengold Bank being a collaborator since 2018.
“J&T Banka has identified the Baltic countries as a potentially attractive investment opportunity given the solid historical performance of the Baltic countries’ portfolios and the experience and expertise of the platform in this region,” said J&T Banka board member Tomáš Klimíče.
Read more: EstateGuru reaches €500m funding milestone