India’s LendPlus joins PeerBerry platform
PeerBerry has added India’s LendPlus to its platform as an originator, offering investors 12 per cent annual returns.
The European peer-to-peer lending marketplace said that LendPlus loans will initially be available on its platform twice a week, going up to three times a week in the future.
Read more: PeerBerry funds loans worth €65m in March
LendPlus provides 90-day business loans and is part of the Aventus Group. Its loans include a buyback and group guarantee for PeerBerry investors.
LendPlus was established at the beginning of 2021 and started actively issuing loans at the end of 2022, having postponed operations due to the pandemic and then, the war in Ukraine.
The LendPlus portfolio currently totals €500,000 (£440,552) and the firm employs 29 staff in India.
Earlier this month, PeerBerry announced that it had repaid another €1.8m in war-affected loans to its investors, meaning that it has now recouped 73.3 per cent of loans impacted by the Ukraine crisis.
It also recently launched a French language version of its website and app as it expands its offering to investors.
According to PeerBerry’s data, France is its second-biggest market after Germany. Spain is third on the list.