NEO Finance AB
The Paskolų Klubas peer-to-peer lending platform, administered by NEO Finance AB, which began 2022 with a €44 million portfolio of active loans, in mid-year reached the landmark portfolio size of €50 million. The goal is by year-end to have more than €55 million in the portfolio.
This P2P lending platform, which was the third to start up in Lithuania, is today considered the largest and the clear leader. According to the Bank of Lithuania, as of the end of July, Paskolų Klubas held 53% of the country’s P2P lending market. Moreover, in the first quarter of the year it held 4.7% of the market among all non-bank credit providers and 2.8% of the market among all providers of consumer credit including credit institutions. One of the goals whose time is coming is to garner more than 10% of the consumer credit market in Lithuania.
Paskolų Klubas remains the largest in the country not for the size of its active loan portfolio, but also for the amount of all loans issued since the start of operations, which in April also surpassed the impressive level of €100 million.
“We’re thrilled our work is not lacking in major achievements and records. It’s motivating to see our efforts bring such results, which show we’re moving in the right direction with our team. We’re growing and our ambitions are more than just words. The German fixed-income asset manager nordIX, which started investing on the platform last year, has contributed greatly to these results, as have the individual investors who find an attractive risk-return ratio on the platform. And of course, this performance would not be possible without the borrowers. The active flow of clients proves the offers we provide are competitive with those of other financial institutions, since a large part of the loans provided (~70%) are for refinancing, whereby clients improve on the loan terms and conditions they had at other institutions,” notes Indrė Krasovskė, the head of Paskolų Klubas.
NEO Finance AB, which administers Paskolų Klubas, also provides the Neopay payment initiation service and manages the FinoMark crowdfunding platform.
Head of Adminstration