Hive5 eyes €30m loan portfolio by end of 2023

Croatia-based peer-to-peer lending platform Hive5 hopes to build a €30m (£25.82m) loan portfolio by the end of 2023, following its launch in 2022.

The lender – which is a subsidiary of Hive Finance – had a cumulative portfolio of just under €2m by the end of 2022. By the end of the first quarter of 2023, its portfolio had grown to more than €5.2m.

The platform had 724 investors by the end of March 2023, up from 431 in December 2022. The company’s chief executive Ričardas Vandzinskas, said that these figures make Hive5 the fastest growing marketplace of the year.

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“Despite the past year’s challenges, including geopolitical conflicts, inflation, and rising interest rates, Hive5 has remained steadfast in its commitment to providing liquidity and stability to the financial market,” said Vandzinskas.

“We are delighted to announce that since our launch in 2022, we have become the fastest-growing marketplace for investing in loans, attracting diverse clients from the biggest European countries and reputable corporations.”

Vandzinskas added that high-net worth investors are increasingly investing large amounts of money on the platform, leading to an “astonishing surge” in deposits during the first three months of 2023.

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By the end of the year, Hive5 plans to roll out new loan offerings, new functionalities and new investment management tools for its users.

As of the end of the first quarter of 2023, the average annual investment return on Hive5 investments was 15.6 per cent.

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