Regular accountability from loan originators is one of the main facts that let investors trust the marketplace to invest their money. Today we are thrilled to share the main business results and further plans for our Loan Originator from Poland, "Ekspres Pozyczka".
Last summer, "Ekspres Pozyczka" started to issue consumer loans in Poland. Since its launch, the company's numbers have been growing every month. In January, "Ekpres Pozyczka" issued 2 778 loans for 1 129 000 Eur (+39% compared to December). The company has a strategic plan and forecast to originate loans for 5 mln Eur by October of this year.
It is important to note that January was significant for "Ekspres Pozyczka" as they reached break even-point and started to earn profit. It is a significant result, considering that the company began to issue loans on June 25th, 2022. So it took only six months to become a profitable company which is a fascinating achievement. In April, “Ekpres Pozyczka” plans to conduct an audit for 2022 and Q1 of 2023; we will publish the reports immediately after the audit.
The main business results (data of 2023-02-01):
• Cumulative loan issuance in January: 3 202 000 Eur
• Operating income in January: 224 000 Eur
• Gross loan receivable in January: 1 245 000 Eur
From the start, "Ekspres Pozyczka" has paired finance and tech experts to build a mobile-friendly loan originator that helps to make simple financial choices. Therefore, the Loan originator focuses on accurate risk management with the help of new technologies. The company is among the few in the market implementing a revolutionary AI-based decision-making engine. The unique scoring system for borrowers is constantly being improved. Hence, the company could manage a tolerable default, which is about 5% of the entire portfolio and is lower than other loan originators on the market by 12%. No doubt, it shows the great advantage and safety for investors. According to our plans, it will help to increase loan issuance by seven times by the end of this year.
Finally, we plan to copy-paste the Polish set-up to the following geographies. After the successful business results, "Hive Finance" feels even more confident extending the business to other countries.
