TWINO Expands European Operations by listing Spanish Loans
Latvian peer-to-peer lender offer investors the chance to further diversify their portfolio with Spanish consumer loans
TWINO announces that it has begun listing short term loans via its Spanish originator – allowing its investors to further diversify their investment portfolios. Spain represents the sixth country listed on the peer-to-peer lender’s pan-European platform.
The Spanish short term loans will have a maximum duration of one month and will offer investors a return rate of 8% per annum. The loans will be covered by TWINO’s industry leading BuyBack Guarantee, which protects investors from borrower default risk.
TWINO, which introduced its peer-to-peer lending platform in 2015, provides short-term unsecured consumer loans for private individuals across a number of European countries – including Latvia, Poland, Denmark, Georgia and now Spain.
TWINO Group, which is entirely self-funded to date, has issued more than €440 million of consumer lending since it was founded in 2009. Its consumer lending arm launched operations in Spain in August 2016 and, since then, has issued close to €1.5 million of loans.
TWINO Group’s peer-to-peer lending platform, ‘TWINO’, has grown to become one of the largest platforms in Europe, funding a total of over €100 million loans in just fifteen months.
Jevgenijs Kazanins, Managing Director, Peer-to-Peer, at TWINO, said: “In volatile times investors are increasingly looking to diversify their portfolios. The increasing strength of the Spanish economy, combined with the wider Group’s established operations in the region, has meant that we are now able to list Spanish loans on our platform and help our investors gain access to yet more European markets.
“We plan to double our platform funding volumes to €200 million this year and expanding internationally is an important growth driver.”