22 July 2020
In 2019, PeerBerry earned a profit of 0,28 million euros
In 2019, PeerBerry earned a profit of 0.28 million euros, which is 2.9 times more than in 2018, when the platform’s profit was 0.10 million euros.
The size of the loan portfolio on PeerBerry grew 3 times in 2019 compared to 2018. At the end of 2019, the loan portfolio amounted to 21.06 million euros, and at the end of 2018, the loan portfolio on the platform amounted to 7.04 million euros.
In 2019, compared to 2018, the number of PeerBerry clients increased 4 times. The PeerBerry platform had 17 000 investors at the end of 2019, compared to 4 250 at the end of 2018.
“In a few words, 2019 was a year of growth. Despite the successful growth, we have never deviated from the core of our business – we always paid special attention to risk management. This is paramount to ensuring the sustainability of the business we are in and the long-term benefits for our investors. We have never been a platform for fancy and “nice to have” things, so we carry out the development of the platform in advance and gradually, and we focus on ensuring a return on clients’ investment first and improving customer experience on the platform, i.e. ensuring best customer service quality” – says Arūnas Lekavičius, CEO of PeerBerry.
The main revenue of the platform is the commission received from the business partners – loan originators. Last year, the platform focused on developing the platform and improving the quality of client support.
„We closely monitor what is happening in the P2P market, we see investors experience on other platforms. I can firmly say that even with a small, but professional, goal-oriented, and dedicated team, a lot can be done, and outstanding results can be achieved. And we are one of the best examples of this. PeerBerry is a team of 10 dedicated members, but over the years we have become one of the leading, most transparent, and reliable platforms. The most important thing is that everyone in the team understands equally that the end-user of our work is the client. Right people in the team and right business partners – credible loan originators is a key of this business“ – states A. Lekavičius.
Currently, PeerBerry has more than 24 400 investors. The share of overdue loans on the platform is about 15%, which is one of the healthiest indicators in the entire p2p market. PeerBerry has never had loans overdue for more than 60 days. There have never been defaulted loans in PeerBerry’s history. During this pandemic crisis, PeerBerry was probably the only platform to settle with investors on time, immediately after a withdrawal request, without any delay. This only proves that extremely responsible risk management and the right business partnership bear fruit.
Among the main goals of the platform at present are to further develop the platform improving the Auto Invest tool, adding more effective features for manual investing, and presenting more different statistics. New products, such as a mobile app, currently are in the development stage. One of the top priorities this year is to become a regulated entity. We remind you that PeerBerry is currently cooperating with a regulator in Latvia to obtain an Investment Brokerage Firm License, which we expect to receive by the end of this year.
We invite you to review PeerBerry Annual Report 2019 here.