Strong start to year as Bondora welcomes 2,000+ new investors
Bondora attracted 2,179 new investors in January, in a month that saw its users earn earn more than €2m (£1.8m) in returns, with total investment increasing to €732m.
The European peer-to-peer lending platform said that loan originations increased by 6.4 per cent in January to just over €17.1m, with the bulk of this increase coming from Finland, which accounted for €11.36m.
In Estonia, loan originations fell by 15.5 per cent, accounting for €4.55m-worth of loans. Spain also increased its total loan originations by 1.3 per cent to €1,17m. And the Netherlands market reopened, with €52,419 originated since the start of the year.
Read more: Bondora originated €14.6m per month in 2022
The average interest rate remained stable, at 19.8 per cent, Bondora said in a blog post on its website.
Finnish loans account for two-thirds of Bondora’s loans, followed by Estonia with 26.6 per cent, and Spain with 4.9 per cent. The Dutch market currently accounts for 0.3 per cent; Bondora reopened the Netherlands market this year after closing it for new originations shortly after launching in September 2022..
In total, investors added just over €17m to their accounts.
Read more: Bondora to close portfolio manager and portfolio pro accounts
The company also reported increased activity on its secondary market in January, with 7.3 per cent growth and a total €161,127-worth of transactions.
In terms of debt recoveries, Bondora said that €990,169 was recovered from a total of 85,583 loans. Most cash and loans were recovered from Estonia, with €555,468 recovered. In Finland, cash recoveries rose by 6.2 per cent to €390,499. Spain’s cash recovery figures fell for the second month, by 12.1 per cent, totalling €44,202.
