Swaper grows loan volumes in August
Swaper investors funded nearly €12.91m (£11m) of loans last month, up from nearly €11.68m in July.
The Estonia-based peer-to-peer lending marketplace added 32,053 new loans to the platform last month, an increase from 29,343 the previous month.
Investors earned €300,000 in interest during the month, Swaper revealed in its latest update on its website.
Total cumulative investments on the platform grew to €442.7m by the end of August.
“We deeply appreciate and look forward to ongoing growth in the future,” Swaper said.
The August statistics come after Swaper last week hailed P2P lending as the answer to market volatility.
In a blog post, Swaper said that “P2P marketplaces offer simple, non-volatile opportunities, which makes P2P marketplaces a safe haven of sorts for those who want to avoid the stress associated with traditional investment options while still enjoying the benefits of higher interest rates.
“Because P2P opportunities share minimal or no correlation with the market, as a marketplace customer, you know what and when to anticipate. As opposed to the stock market, where anything might happen at any given moment.”
Read more: P2P marketplaces predicted to expand into new assets and adopt AI
Swaper noted that the stock market’s long-term returns average approximately 10 per cent yearly. By contrast, Swaper investors can earn yearly returns of up to 16 per cent.