Peer-to-peer lending platform TWINO announced on Thursday that is has begun listing short term loans from Kazakhstan, offering investors the chance to further diversify their investment portfolios.
The loans come from its Kazakhstan originator, and represents the first time a European peer-to-peer lender has expanded to Central Asia. The Kazakh loans have duration of one month and will offer investors a return rate of 11 percent per annum. The loans will be covered by TWINO’s industry leading BuyBack Guarantee, which protects investors from borrower default risk.
Jevgenijs Kazanins, Peer-to-peer Platform Lead, at TWINO, said: “The expansion to Kazakhstan is a hugely important milestone for us and we’re proud to be the first European P2P platform to expand to Central Asia.
“The Kazakh market is rapidly developing consumer lending environment. Our investors will have access to premium yields of around 11 percent, along with all the protections offered by TWINO, including our BuyBack Guarantee.
“We’re also proud to have celebrated our €150 million funding milestone just two years after we started. We’ve generated a significant return for our investors during this time period and we continue to grow quickly across Europe and beyond.”
Back in May, research from TWINO found that the highest ranking European countries in the alternative finance sector are Poland, Greece and Ireland. Other countries that have proved susceptible to improvements in the sector include Hungary, Slovenia and Latvia.
The move to Kazakhstan coincides with TWINO’s peer-to-peer platform celebrating over €150 million worth of loans funded since inception in 2015. The platform is listing loans across a number of European countries – including Latvia, Poland, Russia, Georgia, Spain and now Kazakhstan. It has returned a total of more than €2.7 million in interest to investors during this time, averaging a return of around 12 percent.