TWINO expands into Central Asia with Kazakhstan loans

TWINO, a European peer-to-peer lending platform, has announced that it has started to list short-term loans via its Kazakhstan originator.

Kazakhstan is the sixth country to appear on the peer-to-peer lender’s platform. It is also the first time a European peer-to-peer lender has expanded into Central Asia.

The Kazakh loans have a duration of one month and will offer investors a return rate of 11% per annum. The loans will be covered by TWINO’s BuyBack Guarantee, which protects investors from borrower default risk.

TWINO’s has funded €150m of loans since its inception in 2015 including Latvia, Poland, Russia, Georgia, Spain and now Kazakhstan, averaging a return of around 12%. It has more than 9,000 active investors, [12.5%] from the UK.

The parent company, TWINO Group, has issued more than €440 million of consumer lending since it was founded in 2009. Its consumer lending arm launched operations in Kazakhstan in August 2016.

Jevgenijs Kazanins, Peer-to-peer Platform Lead, at TWINO, said: “ We are proud to be the first European P2P platform to expand to Central Asia.

The Kazakh market is a rapidly developing consumer lending environment. Our investors will have access to premium yields of around 11%, along with all the protections offered by TWINO.

“We’re also proud to have celebrated our €150m funding milestone just two years after we started. We’ve generated a significant return for our investors during this period and we continue to grow quickly across Europe and beyond.”

 

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