Income Marketplace has published the audited financial statements of lender Hoovi Finance. Revenue increased by 79% to \u20ac3.9 million, while net profit rose by 178% to \u20ac867,000. The net profit margin improved from 14% to 22%, while the loan and leasing portfolio more than doubled to \u20ac15.7 million.<\/p>\n
Hoovi has also made a significant leap forward in my lender assessment score, improving from 58 to 71 points (current top score on Income Marketplace). The main reason is that the company\u2019s financial statements have now been audited by KPMG under IFRS, whereas in previous years it had only published accounts prepared under Estonian accounting standards.<\/p>\n
One important detail is that the change in accounting standards also reduced reported equity retroactively, from \u20ac995,000 to \u20ac81,000 as of year-end 2024. In other words, the company looked significantly stronger under local accounting standards than it actually was.<\/p>\n
Hoovi has been active on Income Marketplace since May 2022 and is one of the mid-sized lenders on the marketplace, accounting for around 7% of the outstanding portfolio (approximately \u20ac2.5 million).<\/p>\n","protected":false},"template":"","news_kategorie":[375],"acf":[],"yoast_head":"\n