PeerBerry has reported growth in profits and lending volumes in Kazakhstan, which is one of its key markets.
The European lending marketplace partners with five originators in Kazakhstan, which are all owned by Aventus Group.
PeerBerry said that three of those lenders alone – CreditPlus, Credit365 and AutoMoney – made €4.7m (£4m) in profit last year, which was “significantly more” than 2021, when Aventus Group’s total profit in Kazakhstan was €800,000.
Last year, Aventus Group companies in Kazakhstan issued €202.7m-worth of loans, which was almost five times more than in 2021.
Kazakh loans account for 30 per cent of PeerBerry’s outstanding portfolio, totalling €45.23m as of the end of June.
PeerBerry partners with five lenders from Kazakhstan: leasing company AutoMoney and four short-term lenders CreditPlus, Credit365, A Credit and OneCredit.
Aventus Group is one of Kazakhstan’s largest short-term lenders, with a 25 per cent market share by loan volume.
PeerBerry last month passed its 70,000 investor milestone after a bumper May.
Its investors have now funded more than €1.8bn in loans since the platform’s inception.
Some of PeerBerry’s originators were impacted by the war in Ukraine. A recent update revealed that PeerBerry’s business partners have repaid more than €1.8m in war-affected loans.
Source: P2P Finance News
