InRento to expand Poland and Spain loans
European buy-to-let crowdfunding platform InRento will add more investment opportunities from Poland and Spain by the end of the year, following a “solid” third quarter performance.
In a note to investors, Gustas Germanavičius, chief executive and founder of InRento, said that the platform financed €3.648m in loans during the third quarter of the year.
The average project return was 9.03 per cent and the average investor return was 12.69 per cent during this time period. No late or defaulted payments were reported.
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The Lithuania-based platform now plans to add more investment opportunities from Poland and Spain in the coming months. This follows the success of its first Polish project, Green 27.
“In the fourth quarter we will introduce another investment opportunity from Poland,” said Germanavičius.
Read more: BTL crowdfunding platform InRento hits €15m funding milestone
“For the next year we are planning to offer more investment opportunities from Poland and Spain.
“In the year of 2023 we’ve analysed thoroughly more than 30 financing applications from abroad and only two have passed through our due diligence that offered the right risk/reward ratio for the investors.”
The platform reported that 25 new investment opportunities were added during the third quarter of the year, representing nine unique properties. 3,712 square meters of property was financed across the quarter, overall.
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