PeerBerry hits €2bn funding milestone
PeerBerry has exceeded €2bn (£1.7bn) of funded loans to date, after a record August when investors channelled €75.36m into the platform.
The European peer-to-peer lending marketplace said that August’s loan volume was the largest amount funded in one month on the platform in PeerBerry’s six-year history, exceeding a pre-war level.
Read more: PeerBerry investors undeterred by inflation
PeerBerry’s monthly update also revealed that its outstanding portfolio amounted to €116.63m at the end of August.
1,164 new investors joined the platform last month, bringing PeerBerry’s total to over 73,550. Investors earned €867,844 in interest in August.
Earlier this week, PeerBerry announced that it will reduce its investor rates on 5 September, to the range of nine to 12 per cent.
It said this decision was taken based on the group of companies’ profitability and/or limited need to borrow, as well as high demand from investors on the platform.
Separately, PeerBerry revealed that its business partner Aventus Group is set to fully cover its war-affected short-term obligations towards PeerBerry investors on 5 September.
Read more: PeerBerry business partners have repaid 89 per cent of war-affected loans