Purchase-to-let crowdfunding platform InRento swung into the black final yr, with web earnings exceeding €170,000 (£145,800).
The European lender additionally reported that its income greater than doubled between 2022 and 2023, from €322,567 to €758,456.
Over the course of 2023, InRento elevated its share capital greater than 10-fold from €65,000 to €694,673. It additionally confirmed that it met its regulatory necessities with the European Parliament and Council.
Learn extra: InRento hits €23.5m funding milestone
Chief govt and founder Gustas Germanavičius praised the corporate’s varied milestones, and famous that the platform has maintained its document of zero losses for buyers.
“There are not any late or defaulted initiatives on the InRento platform and the common return on funding on the time of publication of this report is 11.29 per cent each year,” stated Germanavičius.
“Updated our buyers have earned greater than €1.6m by investing within the platform.”
Learn extra: InRento bullish on Polish P2P market
InRento was the EU’s first licensed buy-to-let funding platform. It acts as an middleman, permitting buyers to earn hire and capital positive factors from properties, with a minimal funding of €500.
To this point, greater than €23.9m has been funded through the platform, with a median of 164 buyers contributing to every undertaking. The overwhelming majority of properties funded by InRento are within the residential sector, with industrial properties, motels, and medical properties making up the rest of the mortgage portfolio.
Learn extra: EU platforms welcome new crowdfunding guidelines
