Despite the ongoing holiday season, EstateGuru investors reportedly financed €14.1 million worth of loans during the month of June 2022. All of the primary markets they operate in performed “exceptionally,” led by Estonia (€3.5M), Germany (€3.0M) and Lithuania (€2.7M).
EstateGuru further revealed that they witnessed “no major changes during June in terms of repayments.” They are “not seeing any major increase in applications relating to the extension of loans and in general the exits and repayments are occurring in accordance with the original plans.”
The default rate “remains stable at 5.1%.” No new loan recoveries “have occurred since [their] last portfolio report, however, repayments are expected in July relating to Finnish defaults and one default in Estonia.”
They continue “to proactively deal with late loans in all countries and aim to keep investors fully informed at all times.” Their operations and investor relations teams “have also reviewed the loan updates logic and we are planning to increase the output and information to our investors.” This means that you “can expect more detailed and frequent communication around late loans in future.”
For further insight into their operations, their independently audited Annual Report for 2021 is available via the platform’s official website.
As stated in the report (as of July 7, 2022):
- Total financed loans since 2014 – 598.1 Million Euros
- Total Repaid loans since 2014 – 338.0 Million Euros
- Total outstanding portfolio – 260.0 Million Euros
- Total outstanding defaulted loans – 13.2 Million Euros
They also confirmed:
- Total number of outstanding defaulted loans – 48
- Default Rate (Outstanding loans) – 5.1%
- Partially recovered loans rate (outstanding loans) – 0.7%
- Default Rate (total Financed loans) – 2.2%
- Total amount of Recovered loans – 20.0 Million Euros
- Total number of Recovered loans – 110
- Average return rate of recovered loans – 9.2%
- Average time from default to recovery – 10.5 months
- Write-off rate (total financed loans) – 0.007%
As covered last month, EstateGuru, a securities crowdfunding platform based in Estonia but offering services across Europe, has joined the establishment Association of German Credit Platforms (Verband deutscher Kreditplattformen or VdK) as a full member. While not the first Fintech to join the Association the news is reflective of the fact that Fintechs are now mainstream.
Simultaneously, Fulfin (isarlend GmbH) has joined the association as an associate member.