Lendermarket partners with Credory
Peer-to-peer investment platform Lendermarket is partnering with Credory, a real estate financing company from Estonia. It is the second loan originator on the p2p lending platform.
Lendermarket is a European peer-to-peer lending platform from Dublin with over 8500 registered users that have invested more than 220 million euros to date. Credory is a small-to-medium business financer that specializes in real estate-backed loans.
Second loan originator offering real estate loans
From this month on, users on Lendermarket will have access to commercial loans to SMEs based in Estonia with real estate as collateral. According to Lendermarket, Credory’s loans fall into three categories: business loans for expansions, loans for small real estate development and bridge loans for real estate transactions.
The average LTV of Credory’s loans is less than 65 percent.
The loan can range from 25 thousand to 500 thousand euros, with a duration between 6 and 24 months. The average loan-to-value (LTV) of Credory’s loans is less than 65 percent, Lendermarket writes.
3 million euros in loans with up to 9% interest
By partnering with Credory, Lendermarket offers a second loan originator aside from Creditstar group. The financing company intends to issue 2,5 to 3 million euros in loans to Lendermarket, with annual interest rates of 7 to 9 percent.
Credory is Lendermarket’s second loan originator.
In the announcement, Lendermarket says Credory’s offer will add a low-risk option for investors: “One of the main concerns we’ve noted in the P2P market is that lending platforms tend to have a limited selection of low-risk options. By partnering with Credory, we aim to solve this issue and cater to this section of the market.”
‘Customer base grew 200 percent’
Lendermarket is one of the fastest growing P2P platforms in Europe. The company says it experienced a platform growth of 300 percent and customer increase of 200 percent last year, with a total interest of 4,1 million euros paid to investors.
Lendermarket experienced a 300% platform growth and 200% customer increase.
“Ultimately, our partnership with Credory is an exciting time for the company, as it highlights Lendermarket’s intention to expand in 2022 and capitalise on the progress made in the last few years”, the platform writes. “We understand that our clients require diverse options to cater to their unique needs, which is why this transition to a multi-lender platform will be vital to our expansion.”