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Meet HOOVI on the Income marketplace!

Written by Income marketplace

Income marketplace welcomes a new Loan Originator – HOOVI. 

HOOVI is an Estonian Loan Originator who combines technology and automation with standardized processes and human expertise to achieve a lending process that is both fast and automated in the background but personalized and human-centric on the front office side. 

HOOVI started as Securebadger in 2018. A group of professionals from the finance and real estate sectors as founders. For the first years, the company offered tenant background checks, but in 2020 the original team splintered over differing views on achieving higher revenues. Three founders decided to leverage the technology and experience they had in risk assessment to start offering financial products instead. At the end of 2020, they secured a seed investment of 1.5M € and rebranded to HOOVI as a new SME lender.

HOOVI has already achieved significant month-to-month growth in the small Estonian market, and numbers show there is still more demand left.  

Their monthly revenue has grown on average 52% in the first half of 2021. In July, they surpassed the 30 000€ milestones. The annual revenue forecast for 2021 is 317 000€.

They estimate that the potential portfolio size, consisting entirely of loans to Estonian micro-and small enterprises without prime first-class mortgage collateral, is approximately 50M euros.

HOOVI operates with its license, capital, and back-office, is not dependent on large corporate partners and does not need to share revenues with third parties. HOOVI has already invested in technology and market exploration, which means it can now cover its operating expenses from income. Additional financing goes directly into expansion. 

To start the cooperation, Hoovi is offering SME loans with yields payable of 10-12% p.a. to investors on the Income marketplace. All the listed loans are covered with a buyback obligation and the cashflow buffer. Junior Share for Hoovi’s loans is 20%. Expected maturity for listed loans is up to 60 months, making their loans an attractive, high-yielding long-term investment.


Income is the safest marketplace for investing in loans

Earn up to 12% annually

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