April saw an increase in key metrics across the board when compared with March. There were €7.6M worth of loans originated on the platform, up just over 10% when compared to March (€6.9M). We saw loan repayments totaling €10.3M, an increase of 22% when compared with March (€8.4M), while €1.6M was recovered. Investors on the Estateguru platform earned €1.2M, with an average return of 9.4%, while 63% of funding was done through our Auto Invest feature, a new record.
Loan Origination
In April, we facilitated loans (invested amount) worth €8.6M, out of which €7.6M were funded. Funding was up €1.4M when compared to March (€6.1M). April was the best month of the year thus far, in terms of both funded and invested amounts. The majority of funds were invested through the Auto Invest feature (63%), with the remainder invested manually (37%). This was a record month in terms of the amount invested through Auto Invest, as we see more and more investors choosing to automate their investments on the platform.
We saw 85 loan projects receive funding, an increase of over 10% when compared with the previous month (76). Most of the loans were funded in Estonia and Lithuania (26 and 25 loans, respectively), while the largest average loan amounts were recorded in Estonia and Finland (€115 000 and €81 000, respectively).
The outlook for May is promising, with a high demand for loans in Estonia, our current largest market. We also anticipate positive growth in Latvia and Lithuania, while results in Finland remain subject to improving macroeconomic conditions, which we expect to see in the second half of 2024.
Loan origination over a 6-month period:
Repayments and Recoveries
In April, investors received €11.9M from repaid and recovered loans (including interest, bonuses, penalties and indemnities). This constitutes a 22% increase from the previous month, and the continuation of an upward trend. Most of the repayments came from Estonia.
For a comprehensive overview of our recovery process, and how it differs according to the market, click here.
Repayments (blue) and recoveries (grey) over a 6-month period:
Summary of the loan portfolio as of the 30, April 2024:
