PeerBerry to onboard “at least” 10 new lenders in 2024
PeerBerry is set to onboard “at least” 10 new lenders in the first six months of 2024, after exiting the Polish market due to incoming regulations.
The European peer-to-peer lending marketplace intends to add lenders from South Africa, Tanzania, Nigeria, and Colombia for the first time next year, as well as adding new lenders from Mexico, the Czech Republic, Romania, India and Spain.
In 2023, PeerBerry onboarded seven new lenders from seven different countries: the Czech Republic, India, Kazakhstan, Spain, Sri Lanka, Philippines, and Mexico.
Read more: PeerBerry sees another month of record lending
“PeerBerry plans to onboard at least 10 new lenders in H1 2024 to satisfy investors’ needs,” said a platform representative.
“The demand on the PeerBerry platform is high, and many investors may currently face the issue of investing all the funds held in the PeerBerry account.”
From 1 January 2024, incoming laws in Poland will prohibit Polish loan companies from borrowing funds from platforms. PeerBerry told investors that it has already completed the repayments of its last Polish loans.
Read more: P2P lenders leave Poland ahead of new rules
“Over €20m (£17.22m) of Polish loans plus accrued interest were repaid to investors in November and December,” the platform said.
“Previously, loans issued in Poland accounted for about 25 per cent of all loans funded through the PeerBerry platform.”
There are now no Polish loans remaining in PeerBerry’s portfolio.
Read more: PeerBerry moves closer to full repayment of war-affected loans
