Lithuania based Debitum, a Borderless Financing Platform, Shares Latest Financial Report

The team at Lithuania’s Debitum, a borderless financing platform, has shared important information for their investors, the company’s Financial report Q2, 2021.

As noted in a blog post by Debitum, the document presents the financial and business performance of the SIA DN Operator (the platform owner).

The Debtium team notes that they’ve got “great news” for their users regarding investor’s earnings – which increased from 82,600 EUR of repaid interest in Q1 2021 to 122,500 EUR in Q2 2021.

As mentioned in the update:

“Together with repaid penalties for repayment delay, investor’s all-time earnings in Q2 2021 increased by 36%, reaching nearly 466,000 EUR total funds paid to investors. And compared to Q2 of 2020, the deposit amount shows a 46.5% increase.”

Here are the highlights of the interim financial report Q2 2021 from Debitum:

Key information about Debitum platform for Q2 2021

  • Currencies for investments: EUR, USD
  • Registered users at the end of the reporting period: 7,189
  • Investments “outstanding at the end of the reporting period” stood at: 5.15 million EUR
  • Client “funds on Debitum platform” at the end of the reporting period: 5.41 million EUR
  • Number of assets “available for investments” at the end of the reporting period: 378
  • Average “weighted interest rate for active assets (invested or available for investments)” during the reporting period: 8.92 %
  • Defaulted assets during Debitum platform operations: 0

As clarified in the announcement, Debitum offers “only EUR investments through main platform which is available for all users.” And USD investments are “available only for few institutional investors and are not available publicly.”

Key Platform statistics

  • Q2 2021 has been “a bit challenging for Debitum platform, but despite this we have reached some new milestones and new records.”
  • During Q2 2021 registered users on Debitum has “grown by 620 reaching 7189 registered users.” This has been “equal to Q1 2021 activity and we can see a trend for 2021 of having more new user registrations than in 2020.”

As stated in the detailed report:

“Despite good new user registrations, financial results on Q2 2021 were a bit disappointing. Deposit amount decreased for 45% comparing to Q1 2020 after record on March 2021, but in comparison to Q2 2020 which was also stagnation period on platform it was still increase by 46.5%.”

According to Debitum’s analysis, this might have been “caused by changes in our team and we feel that our current users [did] not [get] enough attention.”

Since mid-June 2021, they’ve appointed a new Head of Private Investor Relations, who has “managed to get in touch with a lot of users and results [should be evident in the] next report.”

Debitum further noted that the “repayment of some big long term assets initiated increase of withdrawal amount and in total during Q1 2021 platform grew only for 5.8%, reaching 5.4 million EUR client funds on platform.”

For more details on this update, check here.

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