We would like to share Lenndy marketplace performance for the 3rd quarter of the year. During this time over 1.8 mln. EUR was invested in Lithuanian loans. In September alone we have reached a new record of over 800 000 EUR investments. We are happy that growing number of investors trust our platform and together have funded 5 mln. Eur since our launch in September 2016.
Our dynamic risk management and close collaboration with the loan originators helped us keep the amount of late loans to just under 5% and avoid defaults entirely.
Last month Lenndy introduced renewed website design and additional functionalities that received generous feedback from our investors. Moreover, new loan originator “Credital verslui” proved to be a great choice as investors funded over 100 000 EUR of their loans. “Credital verslui” provides working capital loans to small and medium enterprises in Lithuania. Investors favour the loans because at least 2 scheduled payments have to be made by the borrowers before those loans are published on Lenndy marketplace.
Over 900 loans have been funded since our launch last September and 349 loans have been funded during the last quarter alone. Secured car loans tend to be most popular followed by invoice financing.
Lenndy marketplace offers a wide selection of short-term loans. It is easier for investors to plan their cash flows and get their funds back in case of emergency or bigger unplanned purchases. Lenndy investors have already received over 2.2 mln. EUR principal payments or 45% of overall funded loans.
Since the updates announced in August investors can find increased number of statistical information at our website including number of late loans and total number of issued loans by each loan originator.
Next quarter we are planning to introduce the following:
• New tab next to each loan where we will provide the information about undertaken actions for each loan including reason of overdue payments, loan recovery status, etc;
• Ability for investors to choose what letter they do and don’t want to receive;
• Portfolio export functionality;
• Auto-invest will allow investors to pre-select their investment criteria and save time;
• SEPA payments will enable to deposit funds directly into Lenndy account.
On 9th September 2017 Lenndy celebrated its first birthday. We would like to express our gratitude to all investors and partners who trust us and contribute to Fintech revolution in the Baltics. Thank you!