PeerBerry onboards Sri Lankan lender
PeerBerry has onboarded another new business partner – LoanPlus from Sri Lanka.
This marks the first time that the European peer-to-peer lending marketplace has partnered with a Sri Lankan lender.
LoanPlus specialises in offering short term loans to consumers, funded by investors. The platform targets annual returns of 11.5 per cent, and all loans come with a buyback and a group guarantee.
Read more: PeerBerry reports record September funding volumes
LoanPlus was founded by Aventus Group in August 2019, but its operational launch was delayed until 2023 due to the Covid-19 pandemic and the Russian invasion of Ukraine.
“LoanPlus offers customers a quick and convenient online solution to receive up to 30 days of term loans,” said a PeerBerry spokesperson.
Read more: PeerBerry repays all war-affected Russia loans with no losses
“LoanPlus loans will be available on the PeerBerry platform three times a week – Mondays, Wednesdays, and Fridays.”
To date, the LoanPlus portfolio amounts to over €420,000 (£366,260).
PeerBerry has been expanding its partnerships recently, adding a number of new loan originators to its platform.
Last month, Spain-based short-term consumer lender Smartcredito joined the platform, offering investor returns of up to 10 per cent.
Read more: PeerBerry reports record September funding volumes