Twino investors earned 10.4pc in April

Investors in Latvia-based investment platform Twino earned 10.4 per cent in interest from loans in April.

The lender issued securities to the value of €2.75m (£2.39m) last month, paying interest of €161,503.

To date, Twino’s cumulative investment total is €1.036bn.

In an update to investors, the platform said that since the beginning of the year, it has listed €16m worth of securities backed by business loans issued to loan originators in Poland and Vietnam.

Read more: Twino changes Polish loan terms and rates

“We are pleased to report that the primary market offering is expanding consistently as new securities are being listed almost every day,” said a platform spokesperson in a blog post.

Twino also updated its investors on the status of the platform’s war-affected loans.

Since the Russian invasion of Ukraine in February 2022, Twino has recovered more than €1.4m in war-affected loans. This represents 20.19 per cent of the total outstanding balance.

Read more: Twino issues €3.5m of new securities in February

Earlier this year, Twino issued its audited annual report for the financial year 2022, which found that the company’s bottom line “grew significantly”.

By 31 December 2022, Twino had recorded a net profit of €178,488. The average return on its listed investments for 2022 was 12 per cent, with a zero per cent default rate.

Read more: Twino appoints new CEO and risk director