Fintown sees portfolio hit €826k with no defaults
Fintown has announced that its portfolio value reached €826,756 (£711,820) last month, while its investors earned more than €13,000 in interest.
The European peer-to-peer property lending platform said that none of its loans are late or in default.
Fintown, which is planning to launch an auto-invest feature soon, also highlighted that its users are choosing to keep their money invested in the platform.
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“With our Flexi product, investors have the flexibility to withdraw both their principal and interest,” Fintown said in a blog post on its website.
“However, we’ve observed that they have chosen not to. This indicates that the previously invested amounts remain intact, and interest continues to be paid out monthly. We believe this demonstrates our investors’ satisfaction with our offerings.”
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Of the €13,012 paid out to investors, Fintown said that the majority choose to reinvest their interest immediately.
Fintown has raised €2.6m to date and funded 12 loans, according to its website. It has attracted 772 investors.
Last month, Fintown launched a new investor incentive scheme, called the VIP Club. Investors who put €10,000 (£8,500) or more into the platform are instantly eligible for the VIP Club privileges.
For investments in Fintown projects amounting between €10,000 and €29,999, members can gain an additional 0.5 per cent per annum of interest on their entire invested sum.
For those whose investments exceed €30,000, a bonus interest of one per cent per annum on the entire invested amount will be awarded.