TWINO Group, a European consumer lender, has announced that it has reached a new funding milestone of €300 million in issued loans. TWINO also operates a peer to peer lending platform that has funded approximately €50 million in loans. Interestingly, TWINO points out that 8% of its investors are based in the UK. The company, which has been operating since 2009 and its P2P lending commencing in 2015, provides unsecured consumer loans for private individuals in ten countries, including Poland, Russia and Georgia. TWINO’s peer-to-peer lending platform, offers European investors the opportunity to invest in consumer loans originated by TWINO Group’s lending companies. TWINO is unique as it is currently offering a “BuyBack Guarantee”, which protects investors from the borrower default risk, the platform says it has attracted over 4,000 investors from 30 countries. TWINO states that investors earned on average a 12.3% return by investing through the platform.
TWINO CEO Jevgenijs Kazanins commented on their platform performance stating;
“We are thrilled to have hit the €300 million mark in issued loans and to have reached almost €50 million in funding through the peer-to-peer platform in just 15 months- it shows a strong sign of investor trust and is a great foundation for the future growth of the platform and the Group. We plan to continue growing the volumes of originated loans across the existing and new markets, as well as ensuring competitive returns for the platform’s investors.”
Kazanins said that pan-European platforms like TWINO are driving change across Europe. He also mentioned that the UK Brexit decision is pushing investors to diversify their portfolios further.
“…this gives platforms with a strong international presence, like ours, a huge advantage,” said Kazanins.