April’s financing volume was over €14M and the German market has become the main contributor of new projects on our platform.
During the month, we financed €5,5M worth of loans in Germany, with Lithuania coming in second at €3,9M worth of loans financed. Our investors’ outstanding loan portfolio grew to nearly €150M.
The portfolio’s size grew due to the fact that our repayment amount was lower than the new loan amount. In April, borrowers repaid a total of €8,8M of loans (a total of 64 loans with an average return of 10,8%).
One of the Estonian defaulted loans where we were awaiting repayment (successful auction) has now been recovered (€0,2M). In Lithuania, we recovered the only defaulted loan in that market with the sale of the claim (€0,9M). There was no major progress in Latvia or Finland during the last month in terms of loan recoveries.
The default rate has decreased to 7,1%.
We will keep you informed about the credit portfolio quality on a monthly basis.