EU – Baltic States, Financial Services, Investments, Latvia, Loan

In the first quarter of 2017, investments worth EUR 94 million were made through Latvia’s P2P lending platforms and EUR 111 million were invested in the second quarter.

“Latvia’s P2P lending platforms have continued to improve their performance results, increasingly strengthening their position in the European market of alternative finances. Although other European countries have yet to report their performance data, I predict that Latvia ranks first in continental Europe by the amount of investment attracted. As for future growth prospects, the industry’s regulation, which is currently being worked out by the Finance Ministry, will be critical,” said Gints Abolins, the head of the Latvian Association of Alternative Financial Services. He underscored that the legislation has to be competitive enough to enable the lending platforms’ growth in the future.

Latvia’s P2P lending platforms are being used to finance various loans, granted to small and medium-sized businesses, as well as individuals. The loans placed on Latvia’s P2P lending platforms have been made in various countries, including Lithuania, Estonia, the Czech Republic, Denmark, Poland, Spain and other countries. A lender from China joined Mintos P2P lending platform in the second quarter of this year.