PeerBerry’s business partner – real estate developer SIB Group – has reportedly repaid investors a €200 000 loan (real estate project “Lini namai”) and paid €41,076 in interest to our investors.
PeerBerry enters its seventh year of operations “with a record amount of funded loans – in October, PeerBerry investors invested €77.6 million in loans, which is the highest amount in PeerBerry’s history.”
PeerBerry started offering investments in loans “in November 2017 and, up to now, funded EUR 2.16 billion in loans.” Within 6 years of PeerBerry operations, PeerBerry investors earned EUR 26.52 million in interest.
PeerBerry’s main statistics for October 2023:
- EUR 77.6M – the amount invested,
- EUR 865k – the interest paid to investors,
- 938 – the number of new investors.
At the end of October, PeerBerry’s portfolio “amounted to €116.18 million.”
Changes in international markets and the geopolitical situation clearly show that diversification is key to reducing risks for businesses and investors.
Arūnas Lekavičius, CEO of PeerBerry, shares upcoming business plans, said:
“In recent years, Aventus Group has actively worked toward business diversification, expanding its business in new markets.”
As recently noted by the PeerBerry team, no Polish loans “will be available on the PeerBerry platform from January 1, 2024.”
On January 1, 2024, a new regulation steps “into force in Poland, under which Polish lenders will no longer be able to borrow funds from investors through platforms – it will be prohibited by law. Therefore, this regulatory change will affect all platforms that offer investments in loans issued in Poland.”
As noted in the update:
“Any “creativity” in funding Polish lending business through platforms puts the lending company at risk of losing its license. The new law in Poland says that all loan companies are subject to the National Financial Supervision Authority; if any company finances itself through the platform, it will be deleted from the National Court Register and will be restricted from running business”
A.Lekavičius added:
“We knew about coming regulatory changes in Poland for quite a long time, and our partners have been preparing for it. Our Polish partners count 10 years of outstanding business performance and are among the market leaders in Poland with solid two-digit million net profits – they are in no need of external funding to develop further successfully. In recent months, our Polish partners have been gradually reducing their exposure on PeerBerry. Currently, the share of Polish loans in our portfolio is 16.6% or EUR 15.9 million. We will still continue listing Polish loans in small volumes; however, all Polish loans will be repaid to investors before the end of this year, and there will be no Polish loans on the PeerBerry platform since January 1, 2024,”
The total loan offering will “not decrease on the platform”
Aventus Group is also expanding its business “in Sri Lanka, the Philippines, and Romania. One more lender from Sri Lanka joined the platform recently.”
New lenders from Romania and the Philippines will “join the platform next year. All these businesses will replace Polish loans and will bring our investors opportunities to invest in.”
It is worth noting that Polish lenders will “remain in their partners’ group guarantee structure with stable business and solid profits and without obligations towards investors, which only strengthens the group guarantee offered to our investors.”
On the Crowdpear platform, you can invest “in property-backed real estate or business loans (primary mortgage) and earn up to 12% annual interest. Crowdpear offers a Secondary market. The Bank of Lithuania supervises Crowdpear’s activities.”
Currently, Crowdpear has 4,636 international investors and “manages over EUR 3 million investment portfolio.”
The same shareholders own the PeerBerry and Crowdpear platforms.