A strong start to the financial year helped EstateGuru to achieve significant year-on-year growth despite the economic downturn accompanying the global health crisis.
“While our loan amounts more than doubled during the first quarter this year, due to the COVID-crisis we witnessed a decline of 19% in loan amounts during the second quarter. Despite this temporary setback, we reacted quickly and saw an increase of 33% in loan amounts during June. So, all in all, loan volume growth compared to H1 2019 reached 29% and our revenues increased by 65% compared to H1 2019. We remain focused on cost-efficient growth and the stable quality of our credit portfolio”, says Marek Pärtel, Co-founder and CEO at EstateGuru.
One of the biggest highlights of the first half of 2020 was EstateGuru’s crowdfunding round on Seedrs in May. The campaign exceeded its €350K funding target by threefold, gathering €1 013 000 from over 1000 people from 37 countries. The largest number of investors came from Germany, where EstateGuru has its biggest platform investor community as well. This funding round paves the way for EstateGuru’s ambitious expansion plans where Germany is number one on the list. The Seedrs funds will be allocated to product development, expansion plans and institutional investors.
14 293 new investors joined EstateGuru during H1 2020 compared to 7927 during H1 2019. The biggest number of new investors came from Germany, with 2776. The next largest groups are Estonians, Lithuanians, Latvians, Italians, Spanish, Austrians and investors from 99 other countries. Our investors earned €4,3 M of interest during H1 2020 versus €2,7 M in H1 2019. 398 projects were financed in the amount of €43,9M during H1 2020 compared to 235 projects in the amount of €33,8M in H1 2019.