Second coronavirus wave hasn’t deterred Twino P2P investors

Fewer Twino investors stopped investing during the second wave of the pandemic compared with the first, the European peer-to-peer lending platform has revealed.

An investor survey by Twino showed 40 per cent of respondents postponed their investments during the first wave of the coronavirus outbreak in March and April.

Twino said it did not see the same tendency during the second wave in recent weeks and months.

It found that 80 per cent of Twino P2P investors were confident about their P2P portfolio and were either planning to increase it or keep it unchanged.

Read more: A guide to European P2P platforms for UK investors

More than half of investors, 53 per cent, said Twino becoming a regulated entity was a “crucial motivator” for increasing their investments.

The Latvia-headquartered firm has applied to the Financial and Capital Market Commission (FCMC) – the financial services regulator in its domestic market – for an investment brokerage licence.

Once approved, the new legal entity will take over the responsibilities of the Twino investment platform.

In addition to Twino investor protection guarantees, investors will be eligible for the FCMC investor protection mechanism of up to €20,000 (£17,664).

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