EstateGuru originations slowed in July
EstateGuru’s origination activity slowed in July as the summer slump set in.
The Estonia-based platform, which specialises in originating property-backed business loans, originated €5.4m (£4.6m) in July, down from €6.4m in June. This makes July the slowest month of the year to date when it comes to loan originations.
Origination activity peaked in April 2024, when €7.6m was originated.
In a note to investors, the platform said that its loan portfolio has “demonstrated consistent performance, with approximately €8m in repayments each month.”
Read more: EstateGuru to launch new investment portal as it eyes profitability
€7.8m was repaid to investors in July, down from €8.1m the previous month.
Of the €5.4m funded in July, Estonia once again contributed the largest share with €2.9m, followed by Latvia with €1.1m.
“Due to the summer holidays, the funded amount in July was slightly lower,” said an EstateGuru spokesperson.
“However, the total amount funded this year has still reached €45.8m.
Read more: Estateguru saw more than €100m invested into 430 projects last year
“In July, our loan portfolio continued to show stability, with total repayments reaching €54.9m for the year and an average of €7.8m repaid each month. Additionally, recoveries have totalled €5.28m, averaging €750,000 per month.”
Across the past 12 months, a total of €83.33m in loans were originated by EstateGuru. Of this amount, €17.47m has been repaid to investors, while €65.42m remains on schedule for repayment.
EstateGuru noted that 99.47 per cent of those loans are performing as expected, with only 0.53 per cent experiencing delays or defaults.
The platform recently announced plans to launch a new investment portal in the coming months, as it targets profitability by the end of the year.
