Since 2014, online SME lender EstateGuru claims to have used its property-backed lending solution to help finance 1,046 loans.
The majority of these loans were in Eastern Europe, with Estonia picking up 68.27% of the loans. Latvia, Lithuania and Finland had received 17.92%, 12.24% and 1.37% respectively.
In a statement sent to Crowdfund Insider, Daniil Aal, head of group sales at EstateGuru, said that the company is looking to expand more into the rest of Europe – starting in Spain, Finland, Portugal and Italy.
“By integrating different public databases into our data warehouse and using sophisticated valuation models, it’s possible to make quick and professional loan decisions and help small and medium sized companies all over Europe,” Aal said.
He added, “It’s a global trend that traditional banking is becoming more and more localized due to AML and KYC procedures, as it’s very expensive for them to handle those procedures cross-border. Although at the same time people and businesses are more and more borderless because we live in a borderless world enabled by technology and data.”
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