Bondora’s summer slump returns
Bondora has reported another summer time drop in originations and investments, in line with last year’s trend.
The European peer-to-peer lending platform originated €13,404,803 (£11,634,829.47) in new loans during June, a 30.8 per cent decrease from May.
Last year, June originations were down by 17.3 per cent compared to May.
“When looking at past data for summer months, loan originations tend to decrease during this time,” said a Bondora spokesperson. “So 2023 remains in step with past trends.”
The value of new investments also declined by more than 30 per cent in June, falling to €13,339,612.
“Although this is quite a drop from the previous month, summer months are historically when investment activity declines,” the platform told investors.
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Bondora also revealed that a “technical error with our API” led to incorrect investment data being published, but reassured investors that the glitch has almost been fixed. The team is also implementing new safeguards for the future.
1,338 new investors joined Bondora in June, and investors earned more than €6m in interest payments over the course of the month.
“As has been typical in Bondora’s history, summertime tends to bring about loan originations and investment declines,” the platform added.
“June 2023 continues this trend from the past, with originations and investments each dipping to the €13m margin. One stat that picked up was the number of new investors joining Bondora, which we’re thrilled about.”
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