The P2P Lending Platform EvenFi Has Provided Loans to SMEs For 10M, in 2021

2021 was the year of consecration for the lending crowdfunding platform EvenFi that, launched in 2020, reached 10 million lent (5 times over 2020) financing 95 projects of Italian and Spanish SMEs and startups.

EvenFI was founded in Bergamo in 2018 as Criptalia by Diego Dal Cero and Mattia Rossi with the intention of democratizing finance through technology. Its mission is to create a new financial future: simpler, free, and decentralized. What animates its work is above all the conviction that investing in the growth projects of valuable companies means triggering a virtuous circle capable of having a positive impact on the real economy. The company allows to invest in SMEs through lending crowdfunding with a minimum amount of 200 euros, without any commission and earning up to 9% per year.

In its newsletter sent to members, the platform reports that new investors, 3,000, have tripled since 2020, bringing the total number of investors to 4,000. Investors who received a total of 481k in interest and 2.55 million in principal returned by the companies: 18 loans were in fact 100% repaid. In addition, loans executed during 2021 provided a net return to investors of nearly 7.5%.

Moreover, the satisfactory performance of 2021 is not limited to the placement of loans, but also to the secondary market, whose trading volume was 4.6 million, a good 23 times higher than in 2020, and representing 46% of the amount lent.

If you want to read more about EvenFi and how many projects the lending crowdfunding has financed, download for free our companion app. The Born2Invets mobile app brings you the most important business news from around the world so you can stay on top of the market.

Last September, the platform had changed its name from Cryptalia to EvenFi

The name derives from “to even”, meaning to make fair, and “Fi” as fintech, underlining the objective of contributing, through innovative technologies, to the democratization of the financial world.

Also in its newsletter, the platform, addressing its users, stresses the importance of diversifying its investments: “Once again we want to emphasize the message that it is essential to invest in a diversified loan portfolio. Our borrowers are relatively small and experience the typical economic cycles of small and medium-sized companies, which are inherently likely to have problems paying back projects on time. A diversified portfolio protects portfolio performance over the long term (and makes everyone sleep better!). Please don’t put all your eggs in one basket!”

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(Featured image by Josh Appel via Unsplash)

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