Wednesday, June 19, 2024

EstateGuru Passes €300 Million Funded Mark in Record Time

EstateGuru, the pan-European alternative lending platform, has funded over €300 million in loans as of the end of January.

The company, founded in Tallinn, Estonia in 2013, officially funded its very first loan in January 2014. It hit the €100 million mark after five years, doing so in March 2019.

As evidence of the platform’s healthy growth and increasing consumer appetite for its product, the next €100 million took just 14 months, with that milestone being reached in May 2020. Now, the third €100 million has come just eight months later.

According to Marek Pärtel, CEO and co-founder: “Reaching €300 million in funding so soon after the €200 million mark manifests investors’ increasing interest towards property-backed investment opportunities.  If we look at investor growth over the last few months, e.g. in January we had a record number of new investors joining the platform – 4081, and add in the fact that we have recently entered the German market, I am confident that the next €100 million will come even faster. Our aim is to become the biggest real estate financing platform in Europe by 2025. Our rate of growth and the quality of our loan portfolio are the solid signs that we are moving towards that goal according to our plans ”

EstateGuru financed loans in the amount of €120,2M in 2020 which was a 50% increase when compared to 2019 (€80,3M).

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