EstateGuru is reporting strong results during the first 6 months of 2020. According to a release, the pan-European P2P marketplace for asset-backed loans saw significant year over year growth in revenue of 65% even during the COVID-19 lockdown.
Marek Pärtel, co-founder and CEO at EstateGuru, said their loan amounts more than doubled during Q1 but during Q2 a 19% decline in loan amounts occurred.
“Despite this temporary setback, we reacted quickly and saw an increase of 33% in loan amounts during June. So, all in all, loan volume growth compared to H1 2019 reached 29% and our revenues increased by 65% compared to H1 2019. We remain focused on cost-efficient growth and the stable quality of our credit portfolio.”
During the first half of the year, EstateGuru added 4,293 new investors compared to 7,927 during H1 2019. The biggest number of new investors came from Germany, with 2776.
The next largest groups of investors are Estonians, Lithuanians, Latvians, Italians, Spanish, Austrians and investors from 99 other countries.
Overall, EstateGuru investors were said to have earned €4.3 million of interest during the first half of 2020 versus €2.7 million during the same period last year. EstateGuru facilitated 398 projects financing €43.9 million during H1 2020 compared to 235 projects raising €33.8 million in H1 2019.
EstateGuru pointed to its successful crowdfunding round on Seedrs that took place in May. EstateGuru topped its €350,000 funding goal raising more than €1 million from over 1000 investors from 37 different countries.
EstateGuru shared that the largest number of investors came from Germany, where EstateGuru has its biggest platform investor community. This funding is expected to finance EstateGuru’s expansion plans where Germany is a focus. The Seedrs funds will be allocated to product development, expansion plans, and institutional investors.
EstateGuru reports employing 40 people from 9 different nationalities located in Tallinn (HQ), Riga, Vilnius, Helsinki, and London.