07 May 2020
2020 April - the first positive signs towards stabilization
Despite the ongoing turmoil in international markets with all following economic consequences of this, PeerBerry maintained a very strong position in P2P market in April compared to competitors. In terms of loans funded in April 2020, PeerBerry firmly ranks № 2 among other P2P platforms in continental Europe.
The decrease in the volume of financed loans compared to March is also significantly smaller compared to most other P2P market participants.
The main PeerBerry figures for April 2020:
- total loan volume since inception – 253 544 621 Eur;
- loan volume originated in April – 9 498 064 Eur;
- number of loans originated in April – 53 974 loans;
- interest earned by investors since inception – 2 634 413 Eur;
- interest paid to investors in April – 241 637 Eur;
- average annual investment return – 13.78%;
- average nominal interest rate of loans originated in April – 13.57 %;
- number of investors at the end of April – 20 997.
“We are very grateful to our investors for the April result, which we achieved thanks to our clients only. The trust of our investors in us shows that our efforts are valued and all our actions reach our clients. It’s not a secret to the investors’ community that PeerBerry isn’t markable in voluminous advertising volumes. Our activities are more based on direct communication with investors and word-of-mouth information. And compared to many of our competitors, our team is incredibly small – just 10 people. This only proves that even with a small but very dedicated team, a very high result can be achieved’ – says Arūnas Lekavičius, CEO of PeerBerry.
“There are no miracles in business. I am convinced that success in business is determined only by full respect for clients, right partnerships and correct and timely decisions. Our April result shows that we, together with our business partners, have properly mobilized our efforts and made the right decisions in a very timely manner in response to a crisis of unexpected large-scale” – explains A. Lekavičius.
“It is also pleasing to mention that the volume of withdrawals has stabilized since mid-April and the number of new clients’ registrations has returned to the pre-crisis level – to an average of 50 new clients’ registrations per day. We also see that newly joined investors invest smaller amounts compared to investors, who have longer experience with us and this is perfectly understandable. Investors became more cautious in such uncertain market conditions” – continue A. Lekavičius.
Evaluating feedback from investor communities, since the beginning of Covid-19 related developments, PeerBerry is probably the only P2P platform in the European market which, during this economic downturn, makes payments to its investors timely – straight after the request, without any delay. Smooth process of all PeerBerry operations is the result of a joint efforts of PeerBerry, Aventus Group, Gofingo Group and Lithome on purpose to protect the interests of investors.
In April PeerBerry accomplished one of the most important steps in becoming a regulated entity – submitted a full package of necessary documents to the Financial and Capital Market Commission seeking to obtain an Investment Brokerage License.
Last month PeerBerry implemented significant updates on the website in terms to increase the speed of the web and to present more comprehensive content for investors, like statistics and more information about loan originators.
Other articles related with recent developments, you might be interested in:
- How Aventus Group is responding to Covid-19. Andrejus Trofimovas, CEO of Aventus Group interview.
- PeerBerry business partners are fully capable to overcome economic downturn.
- Important adjustments to ensure PeerBerry investors protection.
- Risk management at Aventus Group
- Aventus Group and Gofingo Group applies an additional Group guarantee to protect all investors investments