Peer-to-peer lender Twino has started to offer investors short-term Spanish consumer loans, offering its investors a chance to further diversify their portfolios, the Latvian startup said on Wednesday.
Spain represents the sixth country listed on the peer-to-peer lender’s pan-European platform.
The Spanish short-term loans will have a maximum duration of one month and will offer investors a return rate of 8% per annum. The loans will be covered by Twino’s buy-back guarantee, which protects investors from borrower default risk.
“In volatile times investors are increasingly looking to diversify their portfolios. The increasing strength of the Spanish economy, combined with the wider Group’s established operations in the region, has meant that we are now able to list Spanish loans on our platform and help our investors gain access to yet more European markets,” Jevgenijs Kazanins, Managing Director, Peer-to-Peer, at Twino, said in a statement.
Twino, which introduced its peer-to-peer lending platform in 2015, provides short-term unsecured consumer loans for private individuals across a number of European countries – including Latvia, Poland, Denmark, Georgia and now Spain. The peer-to-peer lending platform has grown to become one of the largest platforms in Europe, funding a total of over 100 million euros of loans in just fifteen months.