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ViaInvest provides new securities to its portfolio

European peer-to-peer lending platform ViaInvest has added new asset-backed securities to its portfolio to supply its buyers larger diversification.

The Latvia-based agency mentioned that these securities, meant to complement its present choices, have a five-month maturity and a 12 per cent rate of interest.

“The aim of this replace is to give you extra choices for diversification and the potential for a faster compensation,” ViaInvest mentioned. “We advise anybody utilizing customized auto-invest portfolios to replace their charge and time period settings to benefit from these new alternatives.”

The platform additionally supplied an replace on its November exercise. It noticed €8,318,622 (£7,128,287) of loans funded through the month, up from simply over €8m in October and €7,196,618 in September.

Moreover, Through SMS Group – ViaInvest’s guardian firm – reiterated its choice to finish its lending actions in Poland earlier than strict new lending rules come into impact.

On 1 January 2024, Polish lenders shall be prohibited from borrowing funds from buyers by way of on-line platforms. It will impression any P2P lending market which had beforehand listed loans from Poland-based mortgage originators.

“We have now been on the forefront of digital lending in Poland for over a decade, constantly adapting to evolving rules and market adjustments,” mentioned nation supervisor Wojciech Malek.

“The adjustments carried out in December 2022 have led to a gradual lower in our operations.”

Malek mentioned that new rules forestall the group from securitising new loans for funding on the platform, so it ceased this exercise on 31 October.

Learn extra: PeerBerry to cease itemizing Polish loans, teases new lending alternatives

“Nonetheless, we stay dedicated to serving our current clients till February 2024 and can deal with servicing funded loans and fulfilling our compensation obligations to ViaInvest,” he added.

The platform mentioned that the change is not going to have an effect on mortgage originators’ commitments to investments, and all scheduled repayments to buyers will proceed as deliberate.

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