EstateGuru lends €203m in 2021, a 69% increase on the year before
2021 ended strongly on EstateGuru’s platform. All operating countries exceeded their business targets and the total funded amount for the year was €203m, a 69% increase when compared to 2020 (€120m). Current assets under management (AUM) amounted to €220.3m as of the end of 2021. Additionally, revenues were 7.1m in 2021, an increase of 58% compared to 2020 (4.5m).
13,900 new investors joined from operating countries and 42,000 from non-operating countries (the biggest groups were from Spain, Italy, and Netherlands), totalling 112,000 investors by the end of 2021, a 35% increase compared to 2020. In 2020, 13,300 new investors from operating countries joined, in addition to 31,200 investors from non-operating countries (the biggest groups were from Spain, Italy and France).
EstateGuru investors earned €14.9m of interest during 2021 versus €10.5m in 2020. The platform financed 1,072 projects in the amount of €203m during 2021, compared to 824 projects in the amount of €120m in 2020. The average return on repaid loans in 2021 was 10.3%.
Marek Pärtel, co-founder and chairman of EstateGuru, commented: “The last months of 2021 set a perfect tone for the current year. We’re on track with our ambitious targets and this year we are aiming to triple our growth. We will facilitate the achievement of this growth target by continuous and increasing investments into loan origination technology, expansion into bigger European markets, hiring new talent, and establishing new institutional credit lines together with an increased retail investor community. Our average speed of funding is 33.5 hours. This is exactly what small and medium size enterprises need in order to be competitive and take advantage of business opportunities smoothly and rapidly. Despite the ongoing coronavirus pandemic and the attendant uncertainty, the real estate markets in all of our operating countries are performing well, which supports our expansion plans to the UK, the Netherlands, Spain and Italy this year.
“Late last year we welcomed the introduction of the EU regulations for crowdfunding, something EstateGuru has championed from its inception. This will contribute heavily to alternative financing solutions becoming more and more mainstream besides traditional financing solutions. EstateGuru continues providing all investors and borrowers with the very best real estate financing and investing platform.”