20 million already on crowdfunding platforms this year. euros are mobilized for the development of projects

During the seven months of this year, four crowdfunding platforms with RE mortgages operating in Lithuania, raised about 20.2 million euros, according to Profitus and Lithuanian Bank data. In July alone, 3.1 million euros were lent for businesses and RE project development throughout these platforms (less than in June but more than in March, April, or May.

"Over the last two years, about 2.5 mln. Eur. The dynamics of this amount are highly fluctuating, as the market itself is still fairly new. But at the same time, it is also an opportunity: in Lithuania, alternative lending accounts for only about 1 percent. of the borrowing market, and, for example, in neighboring countries - Latvia, Estonia - this share is about 5-6 percent", - Viktorija Vanagė, the founder and head of crowdfunding platform PROFITUS, is confident.

During the first half of this year marked by quarantine, the amount raised in the real estate crowdfunding market amounted to almost 17 million. EUR - 3 percent. more than in the second half of 2019 and a half more than in the same period last year, when the amount raised was 11.2 million. Eur.

"During the quarantine, people, having more time and spending more of it online, more often found the opportunity to invest in crowdfunding platforms. Therefore, the total number of projects financed during the quarantine was very high, and the projects were financed quickly," V. Vanagė teaches.

The platform PROFITUS has already mobilized more than 14.5 million during the entire two-year period of operation. Loan amount of EUR. During the first half of this year, the platform collected 4.5 million. Eur.

Since the beginning of the year, crowdfunding platforms have financed 147 real estate projects in Lithuania. Of these, 25 loans were granted in July alone. Compared to previous periods, obvious growth can be seen: in 2019 71 projects were financed in the first half of the year, and 102 in the second. This year, PROFITUS provided a third of all market loans - 48.