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EstateGuru partners with Varengold Bank to innovate the alternative lending industry in Germany
EstateGuru, the European leader in alternative property lending, and Varengold Bank, the bank for the marketplace lending industry, have signed a term sheet for a fronting service agreement. As part of the upcoming accord, Varengold Bank will provide a regulatory umbrella to enable the launch of EstateGuru’s full-service package in Germany.
EstateGuru is the leading Pan-European marketplace facilitating property-backed loans for small and medium sized enterprises. Through its platform, private and institutional investors can invest in carefully selected projects backed by first-rank mortgages, starting from as little as 50 euros. Founded in 2013, EstateGuru today offers investments in 8 countries, has facilitated more than 263 million euros worth of loans and rewarded its 64,000 investors with more than 20 million euros in interest payments as of November 16, 2020. Following the upcoming signing of the fronting service agreement with Varengold Bank, EstateGuru will offer its full range of services to all borrowers and investors based in Germany.
“Geographic expansion is one of the three key development areas that will empower us to deliver on our long-term strategy to finance 5 billion euros annually by 2025. The other two being technology and institutional investors. Germany has been on our radar for quite some time. Our biggest community of 19,000 private investors comes from here. So, it is a logical step to become a proper member of the alternative finance industry in Germany. To be fully compliant with the regulatory environment in Germany, we need to have a fronting service cooperation with a local bank. As Varengold Bank is already a valued long-term partner and first-class service provider for fintechs, we have decided to ensure compliance by partnering with them”, says Marek Pärtel, co-founder and CEO of EstateGuru.
“When it comes to financial services, Germany is a heavily regulated market. Foreign fintechs tend to underestimate the bureaucratic hurdles until they experience them firsthand. EstateGuru has decided to address this challenge by making use of the regulatory umbrella we can provide thanks to our full banking license. It is a perfect example of how fronting services enable the entry of companies with business models that bring innovation, new technology and agility to the German market – to the ultimate benefit of all market participants. We are happy to contribute our share to market development and proud to have the opportunity to exhibit our fronting expertise as part of an expansion of our existing partnership with this Estonian fintech powerhouse”, adds Lukas Diehl, Executive Vice President and Head of Marketplace Banking of Varengold Bank.
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RateGain and Juspay Partner to Power ‘RG Pay,’ a High-Performance Financial Technology Platform for the Global Travel and Hospitality Industry
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Money20/20 Asia Report: APAC Fintech Ecosystem Shifts from Experimentation to Scale as AI and Digital Assets Drive Leadership
Money20/20, the world’s leading fintech show and the place where money does business, today unveiled its annual Future of Fintech in APAC report ahead of Money20/20 Asia happening in Bangkok on April 21-23 at the Queen Sirikit National Convention Center (QSNCC). The whitepaper is revealing that APAC’s fintech ecosystem has reached a pivotal inflection point. The region is shifting from experimentation to scaled deployment across AI, digital payments, and digital assets, marking a decisive move toward production‑grade innovation.