EstateGuru, a P2P Investing Platform, Adds Lemonway ‘Pay by Bank’ Option

EstateGuru has partnered with Lemonway in order to bring the Pay by Bank online payment solution to the platform, allowing users to add funds to their accounts directly from their bank accounts.

EstateGuru has shared instructions as to how it works.

The firm reminds clients that in order to use the Pay by Bank feature, you will “need a German, Lithuanian, French, Estonian or Dutch bank account.”

By selecting Pay by Bank as a payment option, users can “initiate payments directly from their Estateguru account.” The funds are transferred “directly from their bank account to their Estateguru account.” Lemonway acts as “a payment intermediary, facilitating the transaction between the user and Estateguru.”

For more details on how to complete this process, check here.

Once you have authorised the payment, you will be redirected back to your Estateguru account.

Lemonway acts as “an intermediary, ensuring the seamless transfer of funds between your bank account and your Estateguru account.” It will take “between one and three working days for the funds to reflect in your account.”

Lemonway Pay by Bank reportedly “simplifies the online payment journey by offering a direct and secure way to add funds to your estateguru account.”

By choosing this payment option, you can enjoy “a simple and secure experience while leveraging the convenience and security of your bank account.”

EstateGuru‘s CEO, Mihkel Stamm recently noted:

“Following the focus on growth in 2022, we adopted a more conservative outlook in 2023, with the emphasis instead on core markets and profitable and sustainable growth. This new focus is reflected in the monthly loan origination volumes in 2023 thus far, which have remained constant at around €8 million. We cannot discount the impact of macroeconomic factors on investors and investing in general, but it’s also vital that we look in the mirror and identify the areas in which we as a company need to improve. In this regard, decreasing the default level is obviously a priority.”

He added:

“One of our principal aims this year has been to grow and consolidate our origination strategy and investment in the Baltics, whilst resolving the German, Finnish and Lithuanian legacy portfolio. We remain committed to reducing the general default level to 20% (from the outstanding portfolio) this year and back to below 10% next year. We are consequently taking a stricter approach when assessing not only the collaterals, but prospective borrowers too. We believe that meeting the targets above will strengthen investor trust in the platform and also provide some indication as to when we should again consider expansion.”

He concluded:

“We are proud to have secured one of the first Pan-European Crowd-Funding licenses in Europe, an achievement that showcases our commitment to compliance and regulated protection for our valued investors and recognises our dedication to becoming the leading real estate lending platform in Europe. The licence, which was granted by the Estonian Financial Supervision and Resolution Authority (Finantsinspektsioon), allows us to operate anywhere in Europe under unified rules. In order to comply with the new regulations, we have instituted several changes, including the implementation of new customer checks and complaint handling protocols. We also reviewed our marketing messages to ensure they were in line with the new requirements. We have long championed the introduction of pan-European regulations, and even participated as a stakeholder in the legislative process.”

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