Investors in the lender market funded more than €13m (£11m) in loans last month, a third more than in May 2021.

The Dublin-based peer-to-peer lending marketplace, which connects retail and institutional investors to consumer loans issued by European originators, said it added 25,831 new loans to the platform last month.

He also said his investors made €347,645 in returns in May.

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Lendermarket has accumulated more than 250 million euros in loans in the past six months, according to a blog post on its website, and attracted more than 9,000 investors.

The market currently lists loans from originators in various European countries, including Poland, Spain, and Estonia.

Lendermarket will have to compete with a growing number of alternative lending markets, which offer investors diversification across asset classes and countries.

Mintos is one of Europe’s best-known lending marketplaces, while Estonia-based Income launched in February 2021.

Last month, Income founder Kimmo Rytkönen said News Peer2Peer Finance that its long-term objective is to bring the loan portfolio of the market place to 450 million euros.

Read more: Revenue approaches crowdfunding goal just days after launch