Marketplace lending platform EstateGuru has posted its 2021 financial results. According to the investment platform loan volumes increased by 69%, revenues 58%, new investors by 35% compared to 2020. EstateGuru said that all of the countries where they operate exceeded their targets with total lending for 2o20 at €203 million versus €120 million year prior.
Current assets under management (AUM) amount to €220.3 million as of the end of 2021. Revenue for EstateGuru was €7.1 million in 2021 compared to €4.5 million in 2020.
The company stated that 13,900 new investors joined the platform from operating countries and 42,000 joined from non-operating countries (the biggest groups were from Spain, Italy, and the Netherlands) totaling 112 000 investors by the end of 2021, a 35% increase compared to 2020.
Marek Pärtel, EstateGuru’s co-founder and chairman, commented:
“The last months of 2021 set a perfect tone for the current year. We’re on track with our ambitious targets and this year we are aiming to triple our growth. We will facilitate the achievement of this growth target by continuous and increasing investments into loan origination technology, expansion into bigger European markets, hiring new talent, and establishing new institutional credit lines together with an increased retail investor community. Our average speed of funding is 33,5 hours. This is exactly what small and medium-size enterprises need in order to be competitive and take advantage of business opportunities smoothly and rapidly. Despite the ongoing coronavirus pandemic and the attendant uncertainty, the real estate markets in all of our operating countries are performing well, which supports our expansion plans to the UK, the Netherlands, Spain and Italy this year.”
Pärtel noted that last year EU regulation for securities crowdfunding came into effect. He said this will boost alternative financing solutions in Europe.
“EstateGuru continues providing all investors and borrowers with the very best real estate financing and investing platform“, said Pärtel.
EstateGuru investors reportedly earned €14.9 million of interest during 2021 versus €10.5 million in 2020. A total of 1072 projects were financed during 2021 in the amount of €203 million compared to 824 projects in the amount of €120 million in 2020. The average return on repaid loans was 10.3%.
EstateGuru is a marketplace for secured loans for SMEs. Based in Tallinn, EstateGuru employs 113 individuals with offices in London, Berlin, Amsterdam, Helsinki, Riga, and Vilnius.