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LANDE Platform Performance Report – December 2024

You're reading the December 2024 edition of LANDE's Platform Performance Report, which we publish monthly to highlight our progress in loan issuance and debt collection and provide insight into other platform or team developments. 

December 2024 was a remarkable month for LANDE as the platform recorded several all-time highs: we hit records on the amount of published loans, interest amount paid out to investors, as well as repaid principal amount!  

The total amount farmers borrowed through the LANDE platform across our three markets in December 2024 was €1,411,825 (historical record!) across 46 projects (avg. project value €30,691). The breakdown by country is as follows: 

The share of loans issued in December that were backed by either land/property or machinery in each market was the following: Romania 100%; Lithuania 100%; Latvia 92%.  

149 new investors registered on the LANDE Platform in December. 

LANDE investors earned a total of €153,371 in interest in December (all-time monthly high!), with the all-time total having now reached €2.37 million. 

The Investor Relations team reported a stable number of customer support tickets submitted in December compared to the previous month, with no significant issues generating high ticket volumes. 

The IT team mostly worked on back-end improvements and internal optimizations during December, but also focused on planning their priorities for 2025, which will include upgrades to the platform interface for smoother navigation and enhanced functionality, improvements to the auto-invest feature and user verification process, and many more performance enhancements.  

The 3% cashback campaign continues in 2025!  

New investors get 3% back on all investments they make on the Primary Market in the first 30 days on the platform. Additionally, all investors will get a 1% referral bonus for recommending our platform to a friend using the unique referral link on their dashboards (bonus applies to the investments made by the referred user in the first 30 days). 

Loan repayment statistics  

 

At the end of December there were 1,296 projects funded through the LANDE platform, of which 614 had been repaid in full while 618 were active, with their repayment status detailed below (+comparison with previous month):

Loans with collateral consisting of livestock and harvest hold the highest shares of 90+ day delays, which is why we have been moving away from these collateral categories and focusing more on securing projects backed by land and/or machinery. 

Repaid principal totalled €1,156,035 in December (another historical monthly record!), while the all-time total has reached €13.11 million.  

More real-time portfolio data can be found on our statistics page.  

Debt collection stages 

 

Below is a breakdown of debt collection stages for delayed loans. Most of the 90+ loans are already in the enforcement phase with bailiffs engaged in recovering the value of the collateral.

Details about debt collection stages can be found here.  

 

Market highlights 

Latvia: 

December was successful month for team Latvia. Farmers tend to have a positive outlook for the upcoming season; they have started to prepare and are seeking funds for machinery repairs/maintenance and inputs. While some have successfully concluded the 2024 season, others are unable to make their final evaluations until they receive full payments for delivered grain and the pending government subsidies. 

Romania:  

In December, the total issued amount in Romania reached €634,300, for 16 different agricultural projects. This was a record month for loan extensions which totalled €283,400. The increase was primarily due to some clients not receiving the subsidies they had expected. However, guarantees and repayment plans for the next season were in place to ensure repayment in 2025. During December, the team visited many existing client farms to check that pledged collateral—such as machinery and equipment—was functioning properly. Additionally, significant time was spent consulting with clients affected by the drought to ensure they would be able to make repayments next year. For clients where repayment concerns remained, enforcement actions were initiated. 

Lithuania:  

 

The month of December was smooth on the Lithuanian market, with the majority of loans and instalment payments covered. The team's communication with farmers remains seamless. Debt collection at the end of the year maintained its level, with 92 percent of default cases already in the bailiff enforcement stage. In 2025, we aim to grow the overall portfolio, prioritizing land plots and machinery as the main collateral types targeted.

 

14.01.2025
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