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EstateGuru and Varengold Bank announce partnership

By Megha Bhattacharya

November 20, 2020

  • Estateguru
  • Europe
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European alternative property lending provider, EstateGuru and Varengold Bank have signed a term sheet for fronting service agreement. The agreement enables Varengold Bank to offer a regulatory umbrella to enable the launch of EstateGuru’s full-service package in Germany. Following the upcoming signing of the fronting service agreement with Varengold Bank, EstateGuru will offer its full range of services to all borrowers and investors based in Germany.

“Germany has been on our radar for quite some time. Our biggest community of 19,000 private investors comes from here. So, it is a logical step to become a proper member of the alternative finance industry in Germany. To be fully compliant with the regulatory environment in Germany, we need to have fronting service cooperation with a local bank. As Varengold Bank is already a valued long-term partner and first-class service provider for fintechs, we have decided to ensure compliance by partnering with them”, says Marek Pärtel, co-founder and CEO of EstateGuru.

EstateGuru is a Pan-European marketplace facilitating property-backed loans for SMEs. Founded in 2013, EstateGuru today offers investments in 8 countries, has facilitated more than 263 million euros worth of loans and rewarded its 64,000 investors with more than 20 million euros in interest payments as of November 16, 2020.

” Foreign fintechs tend to underestimate the bureaucratic hurdles until they experience them firsthand. EstateGuru has decided to address this challenge by making use of the regulatory umbrella we can provide thanks to our full banking license. It is a perfect example of how fronting services enable the entry of companies with business models that bring innovation, new technology and agility to the German market – to the ultimate benefit of all market participants.”, adds Lukas Diehl, Executive Vice President and Head of Marketplace Banking of Varengold Bank.

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