Debitum Network adds new ABS assets during “very active” July
Debitum Network has had a “very active” July, in which it added new investments and enhanced its customer incentives, while the average interest rate continued to increase.
The European peer-to-peer lending marketplace said it has added new asset-backed securities (ABS) assets from Sandbox Funding to the platform; improved the conditions of its summer cashback campaign and invite a friend’ offer; and reduced the minimum investment threshold from €50 (£43) to €10.
Read more: Debitum Network sees higher inflows in May
Debitum connects investors with ABS opportunities, which it pools into programs. There are currently 126 loans pooled into 13 ABS programs from three different originators – Triple Dragon, Evergreen Capital and Sandbox Funding – available for investment.
There has been 62 loans and 725 business loans financed, amounting to €88m.
Debitum also said that its average interest rate continues to increase, reaching 10.62 per cent per annum in July. This was up from 10.46 per cent in June.
Read more: Debitum sees average interest rate rise again in June
In July there were 10,600 investors registered with Debitum and €16.9m has been deposited.
€71.6m has been invested into the platform to date.
The percentage of investments into loan originators was Sandbox Funding (four per cent); Flexidea Polska (seven per cent); Evergreen Capital (12 per cent) and Triple Dragon (77 per cent).
Recently Debitum Network also announced that Flexidea Polska, a subsidiary of its originator Flexidea, launched a €292,000 ABS program.
Read more: Debitum Network partners with Romanian lender