Breaking News
TWINO Expands to Central Asia and begins Listing Kazakhstan Loans
TWINO today announces that it has begun listing short term loans via its Kazakhstan originator- allowing its investors to further diversify their investment portfolios. Kazakhstan represents the sixth country listed on the peer-to-peer lender’s platform and the first time a European peer-to-peer lender has expanded to Central Asia.
The Kazakh loans have duration of one month and will offer investors a return rate of 11% per annum. The loans will be covered by TWINO’s industry leading BuyBack Guarantee, which protects investors from borrower default risk.
The move to Kazakhstan coincides with TWINO’s peer-to-peer platform celebrating over €150m worth of loans funded since inception in 2015. The platform is listing loans across a number of European countries – including Latvia, Poland, Russia, Georgia, Spain and now Kazakhstan. It has returned a total of more than €2.7 million in interest to investors during this time, averaging a return of around 12%. It has more than 9,000 active investors, [12.5%] from the UK.
Its parent company, TWINO Group, which is entirely self-funded to date, has issued more than €440 million of consumer lending since it was founded in 2009. Its consumer lending arm launched operations in Kazakhstan in August 2016 and, since then, has issued over €2 million of loans.
Jevgenijs Kazanins, Peer-to-peer Platform Lead, at TWINO, said: “The expansion to Kazakhstan is a hugely important milestone for us and we’re proud to be the first European P2P platform to expand to Central Asia.
“The Kazakh market is rapidly developing consumer lending environment. Our investors will have access to premium yields of around 11%, along with all the protections offered by TWINO, including our BuyBack Guarantee.
“We’re also proud to have celebrated our €150m funding milestone just two years after we started. We’ve generated a significant return for our investors during this time period and we continue to grow quickly across Europe and beyond.”
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