Hive5 reports “remarkable” Q1 growth
Croatia-based peer-to-peer lending platform Hive5 has reported “remarkable” growth across its group of companies during the first quarter of the year.
During the first three months of 2024, the Hive5 group posted a consolidated profit of €321,663 (£276,665.40). This covers the performance of Hive Finance and its sister companies Hive5 marketplace, Argentum Capital, and Mana Concept.
For the entirety of 2023, these companies posted a total loss of €235,004.
“This impressive turnaround shows our successful efforts to optimise operations and promising development of new businesses,” said a Hive5 spokesperson.
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“We’re proud of the companies’ progress and look forward to sharing more details soon.”
In a blog post to investors, Hive5 said that as part of its commitment to transparency and accuracy, the company is preparing audited financial statements for 2023 and the first quarter of 2024 across all of its group companies.
Financial audit firm FBP Advice is working with the lending platform on this task.
“Their expertise ensures that our financials are accurate and fully compliant with industry standards,” said the Hive5 spokesperson.
“In addition, our goal is to audit each company separately with a local auditor.
“We’ll publish audited financial statements in the summer, and you’ll be the first to know about them.”
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Hive5 noted that Argentum Capital, which operates under the Ekspes Pożyczka brand, delivered “standout” results in Poland.
In 2023, Argentum reported a profit of €186,854. During the first quarter of this year, Argentum’s profits reached €676,154.
Hive5 said that the success of the business success highlights the relatively young company’s strong market presence and effective business strategies.
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