Latvia’s TWINO, a peer-to-peer lending platform, has announced that it has funded €100 million P2P loans in nine countries to date.
The P2P lending marketplace has facilitated 6,300 active investors at a return rate of 12.31%. Germany, UK, Latvia, and Eastern Europe were the most active regions with UK investors funding the highest value of loans last month, rebounding after a few months on poor activity following the Brexit result. The startup recently added Russia to its services as well.
“Funding €100 million of loans from our peer-to-peer platform in such a short space of time is a major milestone for TWINO. It demonstrates that in a volatile investment environment, investors are increasingly looking to diversify their portfolios and boost returns,” said CEO Jevgenijs Kazanins.
TWINO expects to double this figure to €200 million in 2017 with increasing numbers in the UK in the face of low interest rates and currency volatility. The platform operates a buyback guarantee to protect investors against default and most loans are short term meaning they can be withdrawn on short notice.