Development lender EstateGuru has launched into the UK, opening an office in Manchester today.
Property investors using the company can access bridging, business and development loans.
The company views speed as a big selling point, as the business is capable of providing multimillion pound loans in the space of two weeks.
The lender says its funding model has been inspired by the crowdfunding/P2P model of LendInvest, as investors can provide funds to the lender which it uses to fund developments.
However it has something of an even balance between retail and institutional investment.
Ross Gandy, UK managing director of EstatesGuru, said: “We are looking for retail investors in the UK as well as institutional capital to fund projects here, predominantly in the north west region but then moving across Wales and England.
“We are looking for both investors and developers to take on projects.”
EstatesGuru plans to lend over £70 million in 2022 across England and Wales.
The business started in Estonia but is now based in Lithuania, Finland, Germany and the UK, while it has financed projects in Portugal and Spain despite not having a base in those countries.
Germany is currently a major market for the company, as it intends to lend over £200 million in the country this year.
Its founders saw a gap in the market for funding smaller companies after 2008.
EstateGuru envisions covering the whole of Europe by 2025, as the business plans to follow its UK launch by opening an office in Italy.
Indeed, its leaders have targeted funding £5bn of loans annually across the whole of Europe by 2025.