EstateGuru, an online investment platform providing debt capital, has issued a comment on the “Project of the Year 2023.” The marketplace shares that 430 issuers raised money on the platform from projects in Estonia, Finland, Latvia, and Lithuania. Almost €100 million was funded in 2023
According to the Estonia-based marketplace, Rocca Tower C was the top project of the year. The property development raised a bridge loan of about €2 million in nine different stages. For investors, they earned a return of 11.5% annually.
Rocca Towers is a mixed-use development located in the seaside suburb of Haabersti.
Robert Laud, the CEO of Endover, the company that developed Rocca Tower C, said that in today’s challenging environment, crowdfunding provides small investors with solid returns and developers with an attractive alternative to commercial banks.
Tauri Tiik, the Head of EstateGuru, Estonia, said the project is an example of exemplary partnership and stable returns.
“We have a very good partnership with Endover, and we have done an excellent job together. We’re happy to hear that our investors also think so.”
EstateGuru reports that in total, 29,890 unique investors made investments on the platform in the past year, with over three thousand of them doing so for the first time. The average return on investments was 9.7%, and the total amount repaid to investors exceeded €140 million.
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