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.

First anniversary of Boober

A year ago launched as first peer to peer lending service in the Netherlands. While Boober faced some hardship (especially on regulation issues) the first year of Boober can be called a success for the company. So far Boober has funded over 2 million Euro in loans in the Netherlands. Compare this to the 1 million Euro has loaned in the much larger German market in the last 10 months.

But not all lenders are satisfied with the results. The PIVN an association of lenders, on Jan. 14th called for an investment stop. The main cause are fee changes. Richard van den Toorn, Secretary of PIVN, told

It's not going very well with Boober, although they claim otherwise. The
PIVN (association of investors) has indeed given an advice not to invest
in new loans until some of her demands have been met. Reason for giving
such an advice is that Boober changed their payment-policy for the
investors radically, without consulting the PIVN first. It's so much the
height of their fee …, but that they are making sure the
benefits are going to Boober first, leaving the investors [lenders] with the risk of
remaining payments from the borrower. Continue reading