Bondora limits higher return accounts to existing investors
Bondora has temporarily limited its higher-paying accounts to existing investors, as it implements a number of changes aimed at making the platform more sustainable.
Starting today (24 August), the European peer-to-peer lending platform will direct all new investors towards the Go & Grow Unlimited account only, where they can earn up to four per cent per annum.
Existing Go & Grow investors will continue to earn up to 6.75 per cent returns.
The platform also announced a new referral scheme starting 1 September, which gives a €5 (£4.22) bonus to any investors who successfully refer friends and family, as well as giving the friends and family members a €5 starting bonus. There is no limit to the number of people an investor can refer.
Read more: Bondora recruiting for country managers to support EU expansion
In a blog to investors, Bondora said that it was making these temporary changes in order to make the platform more sustainable.
“With growth, it’s important for Bondora to continue being a responsible and sustainable investment platform and maintaining a balance between new investments and our new loan portfolios,” the company said.
“In the coming months, we will prioritize launching new loan markets, new financial products, and new target audiences we will serve as quickly and efficiently as possible.”
Limiting the higher-returning accounts will help to lower the risk on the platform, Bondora added.
Read more: P2P platforms start to raise investor returns
“As we scale on our ambitious growth plan, we want to reassure you that all our decisions are based on your financial well-being and our data,” the platform added.
“Our goal is to provide our investors with even more growth opportunities via new Go & Grow investment tiers and products.
“We are always working to ensure Bondora remains a sustainable platform for you to build your wealth easily and securely. Everything we do is done towards that goal. As a long-term Bondora investor, we thank you. You’ve experienced first-hand how much we’ve grown and as we’ve grown, so has investors’ wealth.
“Let’s focus on the long-term growth journey together.”
Read more: Bondora recovered €1m in July despite summer slump