CEO letter to investors

Dear Investors,

I’m glad to welcome you all in 2022 and hope that you’ve been keeping healthy!

The reason for writing you today is that I’d like you to have a look at what we achieved last year and I would also like to raise the curtain on some announcements to give you an idea of where we are and what the future will likely hold for Swaper.

All and all 2021 was a successful year for Swaper and its investors. Loan volume grew 13,8m compared to year before reaching 77,5m eur. This also resulted in the increased interest payments to investors growing to 1,27m eur for the entire 2021. Comparing some results from December ’21 to ’20, we can see that we added 23% more loans totalling 7,19m euros in last month. More statistics are available for you here.

As I already pointed out in the introduction, we have some good news for our investors which will give a strong start to this year. Namely, the annual report for 2020 is now completed – audited and published. You’re welcome to take a look at the annual report of Swaper Platform OÜ here.  We have also used the company profits to raise the share capital of Swaper to 100 000 eur which is significantly higher than required by the upcoming licensing in Estonia. This step is a part of preparation for applying license once the applicable law is adopted. The law to regulate our business model is in the final stages of the discussion with the regulator in order to adapt it into the law within this year. We have been in discussion and giving feedback about the specifics of the business model to create a law that benefits all parties.

Starting from 1st of February, Buyback period will be changed from 30 days to 60 days for new listed loans. Investors will still receive interest for the entire period before BuyBack occurs as it is currently. Investors’ money will work longer with the same risk level and loan originators will get extra month for working capital. We have analysed and seen that most part of loans are paid back during the first 60 days of delay and that this is also common market period.

Onboarding new loan originators is in progress. We are putting a lot of efforts during the KYC and due diligence process, and it takes more time than we thought, but we want to be sure that with the new loan originators we would seal the smooth and secure investing experience for our investors. I hope relatively soon I can announce new investing opportunities.

We always have the best intention to our investors as well as our platform at heart. And you can always count on the fact that we will communicate of any changes in a clear and timely manner. Change is always good and vital on the journey to success.

I wish to you a successful year and thank you for being with us!

Indrek Puolokainen
CEO at Swaper