Bringing you live news and features since 2006 

TWINO Group reaches EUR1bn loans issued

RELATED TOPICS​

European peer-to-peer lending marketplace TWINO Group has reached a funding milestone of EUR1 billion loans issued since its inception in 2009, with half of the loans issued in the past three years.

TWINO, which offers investors the chance to earn premium returns from unsecured consumer loans, now has almost 20,000 active investors from over 30 European countries. Twelve per cent of TWINO’s investments are UK-based, making its UK investor base the second largest only after Germany (33 per cent). UK investors have already earned more than EUR1 million in interest and earn on average a market-leading return of more than 10 per cent per annum.
 
Latvia-based TWINO Group has also announced a change in management, appointing former CFO Anastasija Oleinika as the new CEO, replacing the former CEO and founder, Armands Broks. The change in management will help to strengthen the company’s financial, operational and risk management, while founder Armands Broks will focus more on the development of new business opportunities, as well as attracting new talent and supporting the local ecosystem.
 
Anastasija Oleinika has worked at TWINO for almost three years, managing the Group’s finance as well as its business operations during the past year. She has also managed TWINO’s operations in Russia, one of the largest TWINO lending markets. Anastasija has extensive experience in financial management, having worked on several M&A deals at SEB Enskilda and Superia Corporate Finance prior to joining TWINO.
 
Over the past 10 years, under the leadership of Armands Broks, TWINO has become one of the largest financial technology firms in Europe, serving over 1.5 million customers. In 2018, its consolidated net profit reached almost EUR9 million. TWINO Group’s turnover increased by 157 per cent year-on-year, reaching EUR90 million in 2018. Its equity reached EUR15 million and cash totalled EUR8.1 million.
 
Anastasija Oleinika, CEO of TWINO Group, says: “Reaching the EUR1bn milestone is significant for us, and is reflective of the business’ continued growth and expansion. The restructuring process we started in 2017 has brought the expected results in a very short time, and our financial results are testament to this.
 
European fintech is revolutionising the way people view and manage their money, and we are proud to be driving this renewal of trust in financial services. As the market evolves, we are continuing to develop and expand our product range to meet customers’ changing needs and preferences. This will involve strengthening our data science and IT capabilities and expanding our team of financial technology experts.”
 
Armands Broks, founder of TWINO Group, says: “We’re delighted to have Anastasija leading the team at this important time in the company’s growth. We’re currently working on a number of new business developments and are evaluating opportunities in new markets, most notably Asia in the next year.”

Latest News

European ETFs raised USD47.8 billion in Q1, a 15 per cent increase compared to the same period in 2023, according..
LSEG Lipper’s March report finds that globally equity ETFs (+EUR113.2 billion) enjoyed the highest estimated net inflows for the month,..
Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..

Related Articles

Kristen Mierzwa, FTSE Russell
Index Investments Group (IIG), a division within index provider FTSE Russell, has extended its range of indices through two new...
ETFs
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by