Latvian P2P TWINO announced today it is listing loans from its Kazakhstan originator, making Kazakhstan the sixth country listed on the platform. It is also the first time a European P2P has expanded to Central Asia, the company said.
The loans are one month in duration, offer an 11 per cent annual return, and are covered by the BuyBack Guarantee protecting consumers from borrower default.
“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,” peer-to-peer platform lead Jevgenijs Kazanins said. “The Kazakh market is rapidly developing consumer lending environment. Our investors will have access to premium yields of around 11 per cent, along with all the protections offered by TWINO, including our BuyBack Guarantee.”
Established in 2015, the TWINO P2P platform recently surpassed the €150 million mark in funded loans. It has returned more than €2.7 million in interest to investors, who have earned an average annual return of approximately 12 per cent. Parent company TWINO Group has issued more than €440 million in consumer loans since its 2009 founding.
More than 9,000 active investors can select loans from Latvia, Poland, Russia, Georgia, Spain and Kazakhstan.