EvenFi has repaid 60pc of investor funds
EvenFi has reported a new milestone for investors, as more than 60 per cent of funds have now been repaid.
In a note to investors, the Italy-based peer-to-peer lending platform confirmed that it has funded more than 400 projects to date, and supported more than 250 small- and medium-sized enterprises (SMEs) in the four years since the platform’s launch.
The companies that the platform backs are typically 10 years old with an average revenue of €4m (£3.49m), and have collectively provided jobs for more than 6,000 people.
Read more: New EU rules could see lenders expand to UK
Approximately 84 per cent of the loans were delivered to businesses based in Italy, with the remaining 16 per cent going to companies in Spain.
“We’ve always believed that a strong local economy is the backbone of a thriving community,” said an EvenFi spokesperson in a communication to investors.
Read more: Kuflink moots new-look 2024
“And with this in mind, we’re pleased to announce that as of October 2023, more than 60 per cent of the funds given to SMEs and start-ups have been repaid.
“This achievement not only reflects the dedication of the businesses we back and our effective focus on real economic activities but also showcases how such efforts can indirectly advance the UN’s Sustainable Development Goals (SDGs), fuelling local growth and prosperity.”
More than 20,000 investors have now signed up to the EvenFi platform, earning target annual returns of between eight and 12 per cent.
Read more: Germany expected to ease liability regime for crowdfunding platforms