EstateGuru, an online investment platform for debt securities, says the first nine months of 2023 saw investors receiving €107.5 million in returns, with €13.5 million being profit.
EstateGuru adds that Q3 delivered €46.6 million in principal repayments and income, an increase of over 80% compared to the €25.6 million investors received in the second quarter of the year.
In total, investors earned €4.5 million in Q3, with the average interest rate at around 9%.
During Q3, investors financed 150 new real estate projects, with a total value of €26.8 million, which was an increase of 42% compared to Q2 (€18.8 million).
Mihkel Stamm, CEO of Estateguru, said their investors have money to invest and are actively seeking new opportunities. Stamm added that from the start of 2023, investors have funded new projects worth over €80 million.
“We anticipate that the positive momentum will continue into Q4. This is bolstered by our expectation of comparable, if not greater, repayments from ongoing projects and a strong pipeline of new ventures on our platform. Overall we see that our business model remains strong during this year.”
Based in Tallinn, EstateGuru was recently approved to offer investment crowdfunding services under ECSPR, the new European Union regime that enables issuers to raise up to €5 million across all member states.
EstateGuru’s main business is a marketplace for property-backed loans.