Tallinn-based EvoEstate has reportedly secured €140,000 in additional capital through a pre-seed extension. The Fintech firm has now closed its €320,000 pre-seed investment round.
EvoEstate aims to offer an innovative investment platform that’s supported by Lithuanian startup Wise Guys, which is a Hong Kong-based stealth investment fund. The company has also received funding from several angel investors based in France and the Baltic region.
Established last year, EvoEstate offers a real estate or property crowdfunding aggregator that aims to make it easier to invest in various offers. According to the company, investors can get started with as little as €50.
EvoEstate’s founding team is investing alongside their customers so that it can share the potential investment risks.The platform currently works with around 2,500 investors from 50 different countries. The company claims that it has helped with co-financing 178 real estate initiatives from 15 countries.
EvoState reveals that the current average annual rate of return that’s repaid to project investors stands at 12.64%.
Many Europe based peer to peer (P2P) and crowdfunding platforms have reported delays in making interest payments, which may be due to the challenges created by the COVID-19 pandemic. However, EvoEstate claims that it’s committed to making timely payments to platform investors by not going over the 3% mark of late interest payments.
As first reported by EU Startups, EvoEstate is now offering risk scoring models for real estate investments made with the platform. These models are implemented using machine learning algorithms which look into many different property crowdfunding deals or transactions.
EvoEstate also performs scoring assessments on its loan originators in order to determine the level of risk on potential deals. The open marketplace allows investors to find reliable data on whether originators have been making late payments.
EvoEstate’s client base includes 5% local customers and 95% come from Western Europe and various other jurisdictions. The company is planning to further expand its operations, globally.