News summary from my platforms and interesting articles during last week
Here is some of the news I have received from the 19 platforms I am currently invested with. For those of you who wants to keep updated, you can get the latest news from the previous week in this summary. If I missed something important, please comment and I will add it to the list.
Evoestate Investors 20' Q3 Update
The long-term effect on the European property market is yet to be seen. But due to intensive quantitative easing, the outcome of the projects is not indicating a significant downturn on residential properties. However, investors shouldn’t get too excited, because the European Investment Bank is distributing low-interest credit lines to non-banking lenders who are likely to venture into the real estate financing market. This will ignite competition between the platforms and non-banking lenders. The 2020’ Q3 Evoestate Investors update will overview repaid project’s, our company’s growth and upcoming features in a very close term.
More transparency for investors with the Mintos Risk Score
The Mintos Risk Score is a new risk grading model that evaluates investment opportunities on Mintos. Besides the overall score, investors will see 4 additional subscores (loan portfolio performance, loan servicer efficiency, buyback strength and cooperation structure).
The Mintos Risk Score and updates of the existing ratings will be introduced in the second half of October 2020
Robo.cash: Lower interest rates boost P2P lending platforms' growth
Analysts of the European P2P lending platform Robo.cash found that low and medium interest rates let platforms grow faster and more sustainably. The platforms with high interest rates (more than 12,5%) are more volatile and their growth is inconsistent.
PeerBerry brand is perceived as more reliable and stable by their investors
Iuvo continues with the legal actions against the originator CBC
At iuvo, we continue to work with all legal means to protect the investments of our clients in CBC loans. The lawsuit against the originator has been filed. All legal actions which we take are coordinated and managed by the Legal Department of Management Financial Group – the holding that stays behind our P2P platform. Our colleagues are working on the case with the assistance of our international legal advisers and partners. Meanwhile, we have sent an offer to CBC for an out-of-court agreement, which could significantly speed up the collecting process of the due funds.
Reinvest24 Q3 2020 overview - less cash drag problems
If recently some Reinvest24 investors could have sad feelings because of the cash drag situations on the platform then now we are happy to say – it’s not a problem anymore. Reinvest24 published property volumes started to grow Month over Month. And during the last 3 months, we were able to publish 8 properties.
As per secondary market, we already executed the first transactions on the platform and as of today, the full functionalities were successfully added. However, some front end elements still require some time to be delivered but very soon You will be able to use it.
Spanish business loan is set to be repaid early on VIAINVEST
As pandemic has brought major reconsiderations to various businesses, VIA SMS Group is also reevaluating its ongoing projects. Reacting to the uncertainties in the Spanish real estate market, VIA SMS Group has decided to terminate its participation in the student hall development project in Barcelona in order to deepen its focus on consumer lending. VIA SMS Group has reached the agreement with its business partner – real estate developer R.evolution – to exit the project funding in the current development phase. Project remains to be continued from other sources of funding.
As follows, the Spanish business loan listed on VIAINVEST and respective business loan assignment agreements concluded with investors are also planned to be terminated before the initial loan end date. The agreements’ termination is set to October 16, 2020. All liabilities towards investors will be covered as initially planned by making the principal repayment and earned interest payout for the current period after the business loan assignment agreements are terminated. Please note that in case of the Spanish business loan the guaranteed annual interest rate is set to 8% and interest payments has been made every month since the individual investment date.
Crowdestate removed pre-booking limitations
When a project was launched on the Crowdestate platform then it had a 24h pre-booking period where an investor could only invest once. In case the project didn’t get fully funded within the pre-booking period then it opened to an investing period for whichever long time.
As of October, a new investment opportunity at Crowdestate will open to investing straight away without a pre-booking period and is closed once the project is fully funded. Because there is no pre-booking period you can invest multiple times once the project has launched.
2020 September | All PeerBerry indicators grew. Interest rates have increased
Another great month has passed. All PeerBerry performance indicators grew up last month. The interest rates have also increased, which was highly expected by our investors.
According to PeerBerry results, September was the most productive month in terms of funded loans on the platform since February. The amount of funded loans reached 16.82 million EUR and was by 13,3% higher than in August. According to this indicator, PeerBerry holds strong positions among the sector leaders in Europe.
Debitum Network partners up with Evergreen Capital
Debitum Network in Lithuania partners up with Evergreen Capital, a non-bank lender providing financing to Estonian small businesses since 2017.
Evergreen Capital has been disbursing loans within Estonia for over 3 years. They have already successfully distributed over 4 million in loans to various Estonian small businesses. The team at Evergreen Capital is focused on having a profitable business that can grow slowly but efficiently. Now Evergreen Capital is ramping up to go to the next level and increase its portfolio with the help of Debitum.