PeerBerry’s profits soar despite impact of Ukraine war
PeerBerry reported a 160 per cent year-on-year rise in profits to €663,455 (£576,063) in 2022, during what it called “a year of invaluable experience” due to the war in Ukraine.
The European peer-to-peer lending marketplace also reported 19 per cent growth in its loan portfolio to €101.18m by the end of 2022.
It funded €537.5m of loans last year, bringing total funded loans on its platform to date to €1.75bn.
Read more: PeerBerry pauses Vietnam loans, onboards new lenders
Half of PeerBerry’s portfolio was impacted by the war in Ukraine. However, PeerBerry claims that it remains the best-performing platform in the market in terms of repaying those investors affected by the war.
PeerBerry’s originators have repaid €36.8m, or 73.3 per cent of the total war-affected obligations towards the platform’s investors.
Read more: PeerBerry repays another €1.8m in war-affected loans
“2022 will be recorded in PeerBerry’s history as a year of invaluable experience,” PeerBerry said.
Read more: PeerBerry funds loans worth €65m in March
PeerBerry’s annual report also revealed that its investors earned €7.16m in interest last year, a 12 per cent increase from 2021.
14,524 new investors joined the platform in 2022, bringing the total number of verified users to 69,000.