Estateguru passed €700m milestone during “stable and successful” Q1
European peer-to-peer lending platform Estateguru passed its €700m (£620m) lending milestone in the first quarter of this year, after completing 178 projects with a loan volume of €23m.
The property lender said that it had completed a “stable and successful first quarter in 2023” – the company’s first quarter under the leadership of chief executive Mihkel Stamm. He took over from founder Marek Partel in January, as part of a strategic shift following a “turbulent” 2022.
Stamm credited the “revived” real estate market in the Baltic states for the company’s successful start to 2023, as well as higher interest rates for investors.
“Last year, the average annual return of our investors was 8.62 per cent, while the corresponding figure for the first quarter of this year was already 9.56 per cent,” he said.
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He added that he is optimistic about the market’s development prospects, but that it will still take time to return to the volumes of a few years ago.
By the end of the first quarter of 2023, Estateguru’s assets under management stood at €295m; a 16 per cent increase on the first quarter of 2022.
More than 156,000 investors have joined the Estateguru platform since its launch, financing loans secured by real estate.
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