Bondora loaned €200,000 within a week of Netherlands launch
Bondora added more than €200,000 (£174,373) worth of loans to its Netherlands loan market within a week of its launch.
The European peer-to-peer lending platform launched its Netherlands business on 23 September 2022, and reported the milestone in its third quarter update.
Based on transactions in the final week of September alone, Netherlands-based loans made up a 0.2 per cent share of the Go & Grow portfolio during the third quarter of the year.
A Bondora spokesperson said that they were “very excited about this new market,” and will continue to monitor its progress over the coming months.
Elsewhere in the quarterly update, Bondora revealed that more than 234,000 investors are now using the platform’s Go & Grow accounts.
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During the third quarter, Spanish loan market originations exceeded €1m for the first time since March 2020, representing a 6.9 per cent share of all Go & Grow loans.
Estonia’s share of loans declined slightly to 47.9 per cent, but despite this decline, it still has the largest share.
45 per cent of all Go & Grow loans were based in Finland – a one per cent increase on the previous quarter.
C-rated loans still make up the largest share of loans based in Spain, Estonia and Finland. The Netherlands is currently only open to A-rated loans.
“We are still only originating C-rated loans in Spain, but they are skyrocketing,” the platform added.
Bondora’s Go & Grow accounts offer automatic diversification across loans of all credit ratings, from AA to HR.
During the third quarter of the year, B and C-rated loans were the only risk ratings to increase, while the number of D-rated loans dropped slightly.
HR-rated loans had the smallest share last quarter, representing just 0.8 per cent of the Go & Grow portfolio. Meanwhile, AA and A-rated loans decreased by 0.5 per cent and 0.2 per cent, respectively.
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