Lendermarket platform value hit €29m in 2021

Online European investment platform Lendermarket saw its platform value grow by 280 per cent in 2021, reaching €29m (£25.5m), according to its latest audited annual report.

The report said the platform issued loans worth more than €110m in the 12-month period, with turnover increasing by 157 per cent to €442,000 for the financial year from 30 December 2020 to 29 December 2021.

During the year the platform saw €132.1m in loans originated and paid €2.4m in interest to investors.

Lendermarket also doubled the size of its investor community in the 12-month period, the report said.

Read more: Lendermarket offering 2pc cashback on Creditstar’s long-term loans

“2021 also marked a significant increase in professional capability as our team [trebled] to 10 full-time employees,” said chief executive Endrik Eller. “That allowed us to continue building additional scalable functions in our organization.”

However, the report showed the company’s pre-tax loss for the financial year, amounted to €600,289, up from the previous year’s figure of €407,698. No dividends were paid.

At the end of the financial year at 29 December 2021, the company had assets of €820,221 (compared with the 29 December 2020 figure of €407,569) and liabilities of €1,587,430 (previously €574,490). The net liabilities of the company increased by €157,798.

Read more: Lendermarket investors earned €5.6m in interest last year

The report explained that the platform worked with investors in 72 countries in 2021, issuing loans in Estonia, Finland, Sweden, Poland, the UK, the Czech Republic, Spain and Denmark.

During the period it added Credory, an Estonia-based real estate specialist lender, to its roster of loan originators.

The company also confirmed its application for a European Crowdfunding Service Provider (ECSP) license will be submitted in 2023.

Read more: Lendermarket seeks new loan originators