Latvian peer-to-peer lending platform TWINO has reportedly added a second Russian originator to its platform since its December 2016 launch.
According to P2P Finance News, over 40% of TWINO’s investors have funded Russian loans. While sharing more details about its Russian expansion, Jevgenijs Kazanins, P2P platform lead at TWINO, revealed to the media outlet:
“Russia is undoubtably one of Europe’s most attractive alternative lending markets and we have seen continued high demand from our investors. We have also seen considerable demand from consumers, as the online lending market in Russia continues to grow. The vast majority of our borrowers in Russia have access to bank credit but choose alternative finance online players instead, primarily because they offer an easier and faster way to access money and superior customer service. This represents a huge opportunity for TWINO investors.”
“As a company, we’re also the first platform to introduce P2P lending to emerging markets such as Russia and Kazakhstan. This helps us to ensure that we’re constantly maximising returns and offering new investment opportunities to our investors.”
The Russian expansion comes just after the lender announced its expansion into Central Asia and began listing Kazakhstan loans.