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"The adjustments in interest rates are related to the demand-supply ratio. Currently, our business partners have less need to borrow through the platform as they have accumulated large amounts of their own funds that they reinvest in their business. It has a temporary effect on supply and interest rates on the platform."

''After a long investigation of other markets, we came to a final decision to withdraw our application for an IBF license in Latvia and to relocate our operations to another EU country, to Croatia, where we have a company (legal name Peerberry d.o.o) for two years already.

Below are the main reasons why:

- Latvian regulation requires having an office and the core team in Latvia

- IBF licensing does not cover real estate projects

- Current regulation in Latvia has no relation with the regulation in other jurisdictions

- The investor protection mechanism under the IBF licensing raises questions

To implement our global strategy, PeerBerry will fully relocate its operations to Croatia, a member of the EU, before October 6th this year. Our activities fully comply with the requirements of Croatian law, and we can successfully continue our activities in Croatian jurisdiction with an official company which activity is registered to engage in financial service activities, except insurance and pension funding. Croatian local authorities are ready to implement EU-level regulation for alternative investment platforms after it is introduced.

After the relocation of PeerBerry operations to Croatian jurisdiction, nothing changes to our investors – we remain the same team, with the same office in the same country (Lithuania), and our business partners remain the same. Our investors will be able to continue to use the same products under the same conditions. The only change is that PeerBerry will be operating under PeerBerry d.o.o., a limited liability financial service company registered in Croatia, a member of the EU.

After PeerBerry operations are fully relocated to Croatian jurisdiction, PeerBeery’s share capital, as planned earlier, will be increased to EUR 125 000.''

Read more: peerberry.com/blog/peerberry-announces-development-plans/

The platform will receive the crowdfunding license before the end of October this year. After the license is received and all necessary development to run operations under this license is done, new real estate projects and business loans will be offered to PeerBerry investors under the crowdfunding license. This part of the PeerBerry business will be supervised by the Central Bank of Lithuania – one of the most reputable regulators in the EU.

Currently, PeerBerry is also in the process of receiving an EMI license. EMI license will expand PeerBerry’s business development opportunities, such as becoming a payment provider and offer investors new products in the future.

Holding the crowdfunding and the EMI licenses, PeerBerry will be under the regulation of the Central Bank of Lithuania, which is responsible for the supervision of the financial sector in Lithuania, and which ranks among the most progressive regulators internationally.

Read more: peerberry.com/blog/peerberry-is-receiving-the-crowdfunding-license-in-lithuania/

1. Credit Plus KZ (legal entity Kredit Seven Kazakhstan, LLC)

Key figures:

- Net audited profit € 0.3m

- Total assets € 1.9m

- Equity € 0.6m

- Liabilities € 1.2m

“2020 was the first year of our activities, and we finished the year profitably, which we are proud of. In the first half of the current year, our company earned more than EUR 260 000 euros, and this is more than 81% of the profit for the entire 2020. We see a very positive overall development of the Kazakh market and till the end of this year, we plan a profit near to EUR 1 million. Our long-term goal is to become one of the most attractive employers in the market and one of the largest microfinance companies in Kazakhstan” – says Andrey Trigubenko, CEO of Credit Plus KZ.

2. Credit 7 MD / Credit 365 MD (legal entity N.C.O. Aventus Finance S.R.L.)

Key figures:

- Net audited loss € -0.1m

- Total assets € 1.7m

- Equity € 11k

- Liabilities € 1.7m

„2020 was a year of ups and downs. We had to support our clients who were affected by the pandemic situation. We also had to face new regulations from the local authorities – new regulation regarding asset classification was introduced last year. Despite all developments in the market, we fulfilled all our obligations to PeerBerry investors very smoothly. Adjusting our business to the new realities, we also have achievements we are happy about. We increased our offline presence from 3 to 11 offline offices. The number of our active clients increased from 7 thousand to more than 10 thousand. Our income grew from EUR 0,84 million to EUR 1,7million. The amount of issued loans has increased from EUR 3,7 million in 2019, to more than EUR 5 million in 2020. The above-mentioned causes led our company to a negative result on our balance sheet and we registered a net audited loss in the amount of EUR 138 k, mostly due to the increase of expenses related to provisions for loans, interest, and commission, and losses from FX fluctuations” – last years results explains Roman Gutu, CEO of Credit 7/Credit 365 in Moldova.

More: peerberry.com/blog/peerberry-partner-credit-plus-kz-earned-eur-319768-in-net-audited-profit-in-2020-partner-in-moldova-plans-profitable-2021/

PeerBerry’s business partner Senmo in Vietnam (Senmo VN) is a joint venture of both Aventus Group and Gofingo Group and started to cooperate with PeerBerry in May last year.

In Vietnam, for the purpose of setting up a short-term lending business and compliance with local laws, Senmo VN is represented by two legal entities:

Gofingo Vietnam Company Limited, which is the owner of the brand Senmo with its both website and mobile application. The company provides IT, marketing, call center, and other business-related services, and

Phuc Loc Tho Service Co., Ltd., which is a business partner of Senmo, that acts as a short-term lender for borrowers in Vietnam through the Senmo platform.

Gofingo Vietnam Company Limited - Key Figures:

Profit = € 0.4m

Assets = € 0.9m

Equity = € 0.4m

Debt = € 0.5m

The company received a qualified opinion from the auditor (Bakertilly), the reason being that ''the company has not considered the recoverability and making allowance for doubtful debts (if any) for outstanding trade receivables of which balance as at 31 December 2020 is VND 6 563 520 848''

Phuc Loc Tho Service Co., Ltd. - Key Figures:

Profit (loss) = € -0.2m

Assets = € 2.5m

Equity= € -0.2m

Debt = € 2.8m

”During the first half of this year, through the Senmo platform, we have provided access for loans in the amount of EUR 11.87M. Analyzing the results of the first half of the year, we see an improvement in all performance indicators and Senmo will end this year profitably” – says Maxim Zubkov, CEO of Senmo.

Key figures:

Profit = € 0.1m

Assets = € 33.2m

Equity = € 0.5m

Debt = € 32.7m

Note the very high debt to equity ratio (62.9)

Key figures:

- Net profit = € 0.3m

- Total assets = € 2.3m

- Equity = € 1.9m

- Liabilities = € 0.3m

Key figures of Euro Groshi UA (European Credit Group, LLC)

Net audited profit = EUR 621 423 (+1,6% more than in 2019)

Total assets = EUR 2 378 640

Equity = EUR 1 489 424

Liabilities = EUR 889 216

Key figures of Gofingo UA (Gofingo, LLC)

Net audited profit = EUR 79 160 (+18,7% more than in 2019)

Total assets = EUR 2 242 110

Equity = EUR 308 035

Liabilities = 1 934 075

Key figures of Zecredit UA (Investrum, LLC)

Net audited profit = EUR 47 352 (+27% more than in 2019)

Total assets = EUR 2 096 196

Equity = EUR 235 380

Liabilities = EUR 1 860 816

The reports can be found here: p2p.holdings/peerberry/loan-originators

Key figures:

Net audited profit = EUR 73 547 (14 times more than in 2019)

Total assets = EUR 4 851 812

Equity = EUR 212 006

Liabilities = EUR 4 639 806

The company received a qualified opinion from the auditor. Auditor's comment:

Taking into account the fact that we did not observe the inventory of existing assets and liabilities,

which was conducted before the preparation of financial statements for 2020, and their availability was

selectively confirmed by alternative methods and procedures that justify the opinion that assets and

liabilities are available in the Company, we cannot give a full audit guarantee on its balances.

Find the financials here: peerberry-wordpress-storage.storage.googleapis.com/wp-content/uploads/2020/03/Slon-Credit_Financial-Statements-2020.pdf