Iuvo moves registration to Bulgaria
Iuvo, a peer-to-peer lending platform from Estonia, is moving its registration to Bulgaria. The move is meant to achieve growth and lower platform maintenance costs. In addition, the company wants to be in the top-3 of invested funds.
Iuvo is a platform for peer-to-peer lending based in Estonia. Over 30 thousand retail investors invested nearly 270 million euros, with an average annual return of 9.2 percent.
No changes for investors
Iuvo shared the news on its company website. There will be no changes for the funds of investors and the platform will continue to work like it was until now, the company states.
The move to Bulgaria is meant to ‘achieve the targeted goals’.
Currently, Iuvo is regulated by the Estonian Financial Supervision Authority. The move to Bulgaria is meant to ‘achieve the targeted goals’ and ‘perfect the services of iuvo’, the platform writes.
‘Bulgarian move will decrease maintenance costs’
“We are proud to be able to state our origin by registering in Bulgaria, where our idea and business come from, and to take advantage of the economic environment in Bulgaria, so we can continue to bring maximum added value to the investors on the platform,” CEO Blagovest Karadzhov says.
“We are proud to take advantage of the economic environment in Bulgaria.”
According to Karadzhov, Iuvo is the undisputed leader of the Bulgarian market. “Bulgaria is one of the main fintech, IT, and outsourcing hubs in Europe. Moving our business operations here will significantly decrease the costs for maintaining the platform, which allows us to invest more in technologies and to fulfill our ambition for providing the best UX/UI to our investors very soon.”
Top-3 invested funds by 2024
Blagovest Karadzhov is the new CEO of Iuvo as of April 2022. He wants the platform to be in the Top-3 of invested funds among other platforms in the segment by 2024. “I am convinced that we have the full potential to achieve it,” Karadzhov says.