Estonian platform Swaper sees lending volumes edge lower in June
Estonia-based peer-to-peer lending marketplace Swaper added 28,171 new loans to its platform last month, while its investors funded nearly €10.91m (£9.3m) worth of loans.
This was a slight decrease from May, when 29,930 new loans were added to the platform and €11m was lent out.
By the end of June, Swaper investors had cumulatively earned €6.42m (£5.49m) in interest, while the total number of loans grew to 1,397,435.
Read more: Mainland Europe: A New Era
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.
Read more: Estonia’s Swaper sees €10m funded in April
The platform allows users to transfer any currency to their Swaper account, as it accepts all currencies. However, payments received in currencies other than euros or pounds will be automatically converted to the user’s base currency.
Read more: P2P marketplaces predicted to expand into new assets and adopt AI
Swaper reported a net profit of €114,000 in its latest published annual results for 2021, on revenues of €2.15m.