Hive5’s cumulative origination hits €57.5m after “steady growth” in August

Croatia-based peer-to-peer lending platform Hive5 has funded more than €57.5m (£48.4m) of loans to date, after reporting steady month-on-month growth.

The firm originated 6,584 loans in August collectively worth more than €3.7m – a four per cent increase from July.

The average interest rate of loans originated in August is 14.7 per cent.

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“This steady growth proves our investors’ trust in us and the consistent quality of our opportunities,” the platform said. “Hive5 is firmly on a steady expansion path.”

Last month, Hive5 launched Romanian loans which it said have been met with “overwhelming interest”, selling out within a few days.

Looking ahead, the platform said it is working on new features and products to enhance the customer experience.

Read more: Hive5 increases interest rates up to 15pc

“Soon, we will introduce the option to download account statements directly from the platform,” it said. “This new feature will provide greater convenience for our investors, who have been waiting for this improvement.”

The update comes after Hive5 reported “remarkable growth” in the first quarter of this year.

During the first three months of 2024, the Hive5 group posted a consolidated profit of €321,663. 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.