Bondora originations rise in October
European peer-to-peer lending platform Bondora saw loan originations rise by 19.9 per cent to €15,065,630 (£13.2m) in October.
The increase comes after the platform launched in the Netherlands on 23 September, where it recorded a 4.4 per cent share of originations, equivalent to €660,540 worth of loans.
However, loan originations grew across all markets. The Spanish market also continued to increase its originations, with a 7.6 per cent share, totalling €1,141,131 (£997,094) worth of loans.
The Estonian market originated €5,104,143 (£4,460,443) worth of loans, equivalent to a 33.9 per cent share, while Finland still has the largest share of originations, totalling 54.2 per cent, or €8,159,816 (£7,130,879) worth of loans.
The average interest rate decreased from 22.6 per cent to 21.8 per cent.
Read more: Bondora originations drop in September
After a temporary increase in September, secondary market transactions returned to decreased activity.
Transactions fell by 19 per cent to €81,801 in October.
Read more: Bondora loaned €200,000 within a week of Netherlands launch
Bondora’s collection and recovery statistics for October showed some contrast, as the number of loans increased, but the amount of cash recovered decreased noticeably.
The number of recovered loans increased by 2.4 per cent to 85,329. But the total cash recovered decreased by 26.1 per cent to €826,505 (£722,826).
In October, the most loans and cash were recovered from Estonia (45.8 per cent and 50.6 per cent respectively). Finland followed with 33.4 per cent of recovered loans and a 42.1 per cent cash share.
Lastly, 20.8 per cent of loans were recovered in Spain, equalling a 7.3 per cent share of cash recovered. The current 2014-2022 recovery rate declined slightly from 49.8 per cent to 48.9 per cent.
After two months of decline, investment product funding rebounded with a 21.3 per cent increase. Investors added a total of €14,861,329 (£12,990,487) to their Bondora accounts.
Once again, Go & Grow remained the most popular investment product, making up 96.9 per cent of all investments, attracting €14,404,915.