Debitum sees average interest rate rise again in June
Debitum saw its average interest rate tick up again in June, after a dip earlier in the year due to a shortage of investment opportunities.
The European peer-to-peer lending marketplace said the average interest rate on the platform last month was 10.46 per cent, up from 10.29 per cent in May and 9.7 per cent in April.
April’s figure was a decline from March’s 10.15 per cent, which Debitum attributed to “a shortage of new asset-backed securities (ABS) programs”.
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Debitum connects investors with ABS opportunities, which it pools into programs.
In June it had 12 ABS programs available consisting of 121 loans – six ABSs from Triple Dragon, four ABSs from Evergreen Capital, and two from Debitum newcomer Sandbox Funding.
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In contrast, in April it had 7 ABS programs consisting of 97 loans.
3 ABS programs ended in June, Debitum said, with €758,847 in principal and interest repaid to investors.
Earlier this month, Debitum announced that it had lowered its minimum investment threshold from €50 to €10, which it said means that the “doors are open wider” for new investors looking to try out the platform.
Debitum users have invested €65.1m via the platform as of the end of June, while the number of investors has reached 10,410.