Fintown portfolio value soars in September
Fintown saw its portfolio value swell by almost two thirds in September, while its investors have accrued more than €19,000 (£16,466) in interest to date.
The European peer-to-peer lending platform said that its total portfolio stood at €1,356,152 as of September, with the entire amount being current and no late or defaulted loans.
This compares to €826,756 in August.
“One of our standout features is our commitment to monthly interest payments,” Fintown said in a blog post on its website.
“We’re thrilled to share that we’ve consistently met this promise, and to date, our investors have accrued a total of €19,907 in interest. Interestingly, a significant number of our investors prefer to reinvest their interest right away.”
Read more: Fintown launches new development product
Fintown has raised €3m to date and funded 17 loans, according to its website. It has attracted 1,213 investors.
Last month, Fintown launched a new investor incentive scheme, called the VIP Club. Investors who put €10,000 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.