TWINO Group, one of Europe’s fastest growing consumer lenders, announced today that it has reached an important milestone of €300 million in issued loans. The company, which has been operating since 2009, provides unsecured consumer loans for private individuals in ten countries, including Poland, Russia and Georgia.
In May 2015, the company also launched a peer-to-peer lending platform (www.twino.eu), offering investors from across Europe an opportunity to earn premium returns by investing into consumer loans originated by TWINO Group’s lending companies. Fueled by the industry leading BuyBack Guarantee, which protects investors from the borrower default risk, the platform has attracted over 4,000 investors from 30 countries, who have already funded over €47 million in loans – eight percent of these investors are from the UK. Investors earned on average a 12.3 percent return by investing through the platform.
Jevgenijs Kazanins, CEO of Twino, said: “We are thrilled to have hit the €300 million mark in issued loans and to have surpassed €47 million in funding through the peer-to-peer platform in just 15 months- it shows a strong sign of investor trust and is a great foundation for the future growth of the platform and the Group. We plan to continue growing the volumes of originated loans across the existing and new markets, as well as ensuring competitive returns for the platform’s investors.
European FinTech is revolutionising the way people and institutions view financial services, and pan-European platforms like TWINO are helping to drive this change. Since the UK’s EU referendum decision, investors are seeking to diversify their portfolios, and this gives platforms with a strong international presence, like ours, a huge advantage.”