€14.7M Worth of Loans Financed via EstateGuru in April 2022

European lender EstateGuru reports that €14,7M worth of loans were financed during April of 2022.

New loans in Estonia “contributed nearly 50% of the volume, followed by Germany and Latvia.”

During the past month, EstateGuru reports it has “seen a rise in investor activity and investments on our platform.”

In regards to repayments, they have seen “increased volatility in 2022.”

However, in April their borrowers “paid back 1,5 times more loans than in March.”

They haven’t changed their forecast and “expect further improvement in repayments during the second quarter.”

The update from EstateGuru also mentioned that the default rate “increased to 5,9%, due to new default projects in Lithuania and Estonia.”

They expect that the collateral from two large Finnish loan projects’ (total of €3,5M) “will be sold through auctions within a month, with repayment to follow during June-July.”

They finally closed their Swedish default project to their investors, “reaching a settlement agreement with the borrower.”

During the past month, they have focused on their late loan management, and hence, they  “expect the late loan amount to decrease during the second quarter.”

As stated in the report (as of May 22, 2022):

  • Total financed loans since 2014 – 571.0 Million Euros
  • Total Repaid loans since 2014 – 320.5 Million Euros
  • Total outstanding portfolio – 250.5 Million Euros
  • Total outstanding defaulted loans – 14.0 Million Euros

They also confirmed:

  • Total number of outstanding defaulted loans – 50
  • Default Rate (Outstanding loans) – 5.6%
  • Partially recovered loans rate (outstanding loans) – 0.8%
  • Default Rate (total Financed loans) – 2.5%
  • Total amount of Recovered loans – 19.0 Million Euros
  • Total number of Recovered loans – 104
  • Average return rate of recovered loans – 9.2%
  • Average time from default to recovery – 10.3 months
  • Write-off rate (total financed loans) – 0.007%

EstateGuru, a European investment platform providing access to short-term property-backed loans, had returned earlier this month to Seedrs once again to raise additional growth capital.

According to the offering page (as of May 4, 2022), EstateGuru had cruised past its €500,000 initial target, having raised almost €1.2 million as of this writing. EstateGuru had been offering a convertible security that holds a 20% discount on a future priced round. As of May 4th, 1,012 investors had participated so far with about a month left in the offering. EstateGuru hopes to raise up to €3 million.

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