Estonia-based EstateGuru has ambitious plans to take a share of between €3bn and €5bn of the European alternative real estate financing market, which it forecasts will top the €75bn mark by 2025.
EstateGuru is a peer-to-peer (P2P) lending platform that is currently active in six European markets — Estonia, Latvia, Lithuania, Finland, Spain and Portugal — and plans to launch in Finland by the end of the year.
Marek Pärtel, EstateGuru co-founder and partner, believes there is huge growth ahead for the digital real estate financing market.
"Real estate financing by different digital platforms will increase to €75.6bn by 2025. In 2016 the amount was €2.85bn. EstateGuru's ambition is to take at least €3-5 billion of this expected amount,” Pärtel said according to a press release from the company.
"We are going to put Estonia on the map of innovative banking and finance again … we’ve got the ambition and drive to carry out our mission and change the European real estate market and the way its financing works,” Pärtel added.
EstateGuru reported a 49.2% y/y growth in the number of new loans via the platform in the first half of this year, to €33.8mn. Overall, it has over 27,000 investors from 106 countries all over the world.