CROSS-BORDER European property lender EstateGuru has expanded into Finland after funding the platform’s biggest ever loan in the country’s capital.
The peer-to-peer platform, which previously only lent to Baltic countries but is open to European investors including those in the UK, provided a €1.65m (£1.4m) loan to a printing company in Helsinki.
The bridging loan was funded in less than two weeks by 1,233 investors from 41 countries.
“Our vision is to become Europe’s leading cross-border platform for short-term property loans and Finland is the next logical step in our expansion,” Marek Partel, chief executive of EstateGuru, said.
“EstateGuru has a significant community of Finnish investors and we are glad to be able to facilitate even more diversified investment opportunities, both in terms of type and location of collateral.”
It currently has offices in Estonia and Latvia, but Partel said EstateGuru plans to expand into the UK, Ireland and Spain this year.
EstateGuru has more than 10,300 investors from 45 countries, earning average interest of 12.5 per cent. It has funded almost €45m of loans.