Bondora’s February originations hit four-year high
Bondora saw loan originations rise by 12.2 per cent to €19.2m (£17m) in February, the highest level recorded on the platform since 2019.
Investments also peaked, with a 2023 high of €20.6m last month.
The European peer-to-peer lender welcomed 1,071 new investors in February. Together, investors earned more than €17m in returns, and their total investment amount increased to €749m.
Read more: Strong start to year as Bondora welcomes 2,000+ new investors
Finland generated the most loan originations, equating to €13.9m thanks to a mammoth 22.4 per cent increase.
The Estonian market declined by 7.9 per cent to €4.2m. In contrast to January, Spain decreased its total loan originations by 20.8 per cent to €922,878.
Meanwhile, the Netherlands market continued to grow, with €195,536 originated.
Finnish loans continued to make up the overwhelming majority, with a 72.4 per cent share. Estonia followed with 21 per cent, Spain with 4.8 per cent, and the Dutch market with 0.7 per cent.
The average interest rate remained almost the same, declining by just 0.3 per cent to 19.5 per cent.
Read more: Bondora reopens Netherlands market
Overall investment volumes rose by 20.9 per cent, totalling €20,660,543.
Go & Grow’s share decreased to 90.3 per cent and Portfolio Pro increased its share to 8.2 per cent.
This was mostly due to changes the platform made to its Portfolio Manager and Portfolio Pro products. Investors migrated their portfolios to Go & Grow, which affected February’s figures.
Go & Grow received €18,652,183. Portfolio Pro received an unprecedented €1,694,883. Portfolio Manager followed with €302,822, and the API with €10,655. All products, except Portfolio Manager, increased their investment totals.
In contrast to January, activity on the secondary market decreased 19.5 per cent to €129,666 worth of transactions.
Overall cash recovery performed slightly below January. A total of €929,268 was recovered from a total of 82,639 loans. This was a 6.2 per cent and 3.4 per cent decline, respectively.
Most cash and loans were recovered from Estonia, with €463,920 cash and 38,074 loans recovered.
In Finland, cash recoveries rose by 6.3 per cent to €415,190. Contrasting January’s decline, Spain’s cash recovery figures increased by 13.4 per cent, totalling €50,128. No recoveries were made in the Netherlands, as it is a new market.
The 2014-2023 recovery rate declined slightly from 60.8 per cent in January to 57 per cent in February.
Bondora said 2023’s recovery rate currently sits at 108.4 per cent but that it expects the recovery rate will likely decline and stabilize as the year progresses.
Read more: Bondora originations “skyrocketed” in December