Debitum Network sees €89m funded in August
Debitum Network reported a broadly flat performance in August, with €89m (£76.4m) funded through 64 asset-backed securities programs containing 788 business loans.
This compares to July when 62 programs and 725 business loans were financed, amounting to €88m.
The average interest rate was 10.63 per cent in August, compared to 10.62 per cent in July.
The European peer-to-peer lending platform said that it continued to implement its long-term development plan over August.
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This included the previously-announced change in ownership, the restructuring of its Ukrainian assets, new investments on the platform and a summer cashback offer from originator Triple Dragon.
“Actions have resulted in the increased interest of investors and the growth of the investment portfolio,” Debitum said.
In July, Debitum lowered its minimum investment threshold from €50 to €10.
It said this means that existing investors can put accumulated monthly returns into action more effectively. “We invite all investors to do so right away and thus increasing the compound annual return rate,” Debitum said.
“For investors who just start to invest in business loans with Debitum, it means that ‘doors are open wider’ to test and try the platform in action.”