Estonian platform Swaper lent €11m in May
Estonia-based peer-to-peer lending marketplace Swaper added 29,930 new loans to its platform last month and lent out €11m (£9.4m).
The latest update from the firm said that May’s lending volumes were a 78 per cent year-on-year increase. On a month-on-month basis, lending volumes rose by 10 per cent.
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Cumulative investments have reached €407m (£349m) and Swaper investors have earned a cumulative return of €6.26m (£5.37m) at the end of May.
Swaper, which launched in October 2016, connects investors across Europe – including from the UK – with short-term consumer loan opportunities in central and Eastern Europe.
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Users can invest in the unsecured loans that have been issued by Wandoo Finance Group lending companies in Poland and Spain.
The company holds more than €178m (£152m) in loans and has paid over €2.5m (£2.1m) in interest to investors.
The platform allows users to transfer any currency to their Swaper account, as it accepts all currencies. However, payments received in currencies other than EUR or GBP will be automatically converted to the user’s base currency.
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