I am excited to celebrate another successful year with you. Let us take a moment to reflect on our joint achievements and talk about VIAINVEST’s plans. As we are about to enter 2024, we are stronger than ever, with our largest investment portfolio to date and, more importantly, our largest ever community of investors who have chosen us as their trusted investment partner. I and my team would like to express our sincere gratitude for this.
This summer, we celebrated the first anniversary of our first product launched as a regulated investment platform, Asset-backed securities, which proved to be a huge success for us. We have securitized and funded over 105 million EUR of consumer loans issued by VIA SMS Group and its related companies. We paid our investors 2.4 million EUR in interest for investments in securities and our total portfolio is nearing 30 million EUR. We are committed to providing more lucrative investment opportunities to our clients in 2024.
Your loyalty and opinions are important to us, and I genuinely appreciate the valuable feedback that many of you have provided. One of the most important topics for our long-term investors was the repayment of previous loan product investments, also known as cessions, made before August 2nd, 2022. This year, we were able to facilitate the full repayment of cession investments in the Czech Republic, Romania, Poland, and Sweden. While only 15% of what was originally invested in Latvia remains, it still suggests that it will not be fully repaid by the end of this year. We anticipate that the remaining amount will be repaid gradually over the next 4-6 months, with faster repayment possible, however, to stay transparent with our investors, this term should be considered the most likely scenario.
Another highly debated topic was the security guarantees for investors in Asset-backed securities. We designed our investment product with investor protection in mind, which is why a loan originator agreement includes a pledge on the loan originator portfolios and assets, giving VIAINVEST the authority to control them if contractual liabilities are not met. I am confident that this structure provides our investors with adequate additional protection. Furthermore, VIAINVEST is a member of the investor protection system.
As the industry evolves and matures, we at VIAINVEST are committed to remaining among leaders in adapting to these changes. In the coming year, we will focus on improving the investing experience on our platform and introducing new investment products. We will communicate more about the updates later next year.
As we turn the page to a new year, I wish you a peaceful holiday season surrounded by loved ones. I am looking forward to our continued collaboration and a prosperous year ahead.
With warmest regards,
Eduards Lapkovskis
Chairman of the Board
VIAINVEST
