The European peer-to-peer lending platform Neo Finance financed a record consumer credit of EUR 5.73 million (GBP 4.95 million) in the first quarter, 17 percent more than a year earlier.
Meanwhile, the number of registered lenders on the platform rose 27 percent year over year and the number of active investors rose 564 to a total of 12,865 at the end of March.
The platform has increased its maximum loan amount for its most creditworthy borrowers to 25,000 euros and extended the repayment period to 10 years. In addition, the maximum loan amount for C-rated borrowers has been increased to € 14,000.
The company also announced that its e-money product Neopay had completed transactions worth EUR 3.48 million. That was € 1.24 million in the same quarter of the previous year.
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Neo Finance has expanded Neopay to over 100 affiliated financial institutions after adding major banks in Poland, Sweden, Finland and Norway to the service in the first quarter.
In the first three months of 2021, a growing number of international partners and referral programs attracted 1,499 new registrations with Neo Finance.
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