Viventor: One LendIt and 6 Million Later
07 October 2016 | Comments
Viventor, a peer-to-peer lending platform, marks its first year of operations with 60%+ average monthly growth in the investments made through its marketplace. The company launched the alpha version of its lending marketplace in October 2015 at London’s LendIt, the largest gathering of the online lending community in Europe. This year, Viventor returns to the event with a story of lessons learned, fleet-footed adjustments made, and an improved, established product near the top of the Europe’s fastest growing peer-to-peer platform list.
The development of Viventor’s product and the company’s subsequent rapid expansion has been buttressed by its partnership with Finstar Financial Group, a private equity fund. Finstar follows a value-added investment strategy of introducing global best practices for innovation and marketing to its companies. Finstar has a strong track record in the financial technology and financial services space, and has established successful partnerships with fast-growing lenders across Europe.
Aided by this partnership, Viventor in February 2016 launched new features and loan types that catalyzed growth, allowing it to expand its investments from EUR 100,000 to over EUR 6 million.
Viventor has now attracted close to 2,000 investors from over 30 countries, generating annual returns as high as 12%. All loans listed on the platform are 100% pre-funded and secured by a Buyback Guarantee: listed loans are bought back by the loan originator after 60 days of delinquency. The loan marketplace has not lost a single cent of investors’ money to date.
Viventor is open to any European citizen with as little as EUR 50 to invest. Investors are able to choose from a range of low-risk secured and unsecured loans made by non-bank lenders. Currently, loans from Sweden and Spain are available for investment, with Denmark, Lithuania, Poland and other countries in the pipeline.
The reinvented Viventor product will be presented at LendIt Europe 2016, where Toms Niparts, Viventor Head of Operations, is to participate as a speaker during the Up and Coming European Platforms session.
Andris Rozenbahs, CEO of Viventor, commented:
“As clichéd as it sounds, our last year has proved that businesses must sometimes pivot to achieve success. Understanding the market, listening to your customers, admitting your mistakes and incorporating all that into your strategy isn’t always easy – but it’s always necessary. Supported by expertise and strategic advice from Finstar, we managed to do this and put Viventor not only on the right track, but on the fast track. We’re thrilled to return to LendIt with our story of new beginnings, hard work, and most importantly, with an established, competitive and rapidly expanding peer-to-peer lending platform.”
Nicholas Jordan, CEO of Finstar Financial Group, commented:
“Viventor’s giant operational leaps and the stellar expansion of its platform are proof that it has a robust business model and has achieved an excellent product-market fit. As a strategic partner, Finstar will continue to offer operational guidance, support product enhancement, and ultimately assist Viventor expand from its current focus on the Spanish and Swedish loan markets to becoming a pan-European peer-to-peer platform.”
Toms Niparts, Head of Operations at Viventor, reflected on the company’s first year:
“It’s been a challenging, exhausting and exciting process. We have now finally reached a product-market fit, and have numerous product improvements in the pipeline. For instance, the Viventor Mobile App is coming any week now, as a direct reaction to mobile trends. Meantime, our improved AutoInvest tool, secondary market features, advanced dashboard, and institutional investor tools are exciting developments with the potential to supercharge our growth. Indeed, with so many transformative improvements building on the foundation of our success this year, it seems that Viventor 2.0 is well and truly in the making.”