Smava with Higher Net Loss for the Year 2011

German p2p lending Smava had a high net loss for the year 2011. Documents available to show that Smava incurred a net loss of 2.77 million Euro (approx. 3.68 million US$) in 2011; up from 1.75 million EUR in 2010. Overall loss carried forward up to the end of 2011 was 7.7 million EUR (approx 10.2 million US$). Smava did raise new capital in 2011. They had a cash reserve of 1.98 million EUR in the end of 2011. The high burn rate might have contributed to Smavas decision to change the business model in early 2012 moving away from p2p lending.
No financial figures were available to for later periods.

Why Friendsclear Closed
P2P Lending Panel at Le Web