Bondora investments “rebound” in July
Bondora has reported a “rebound” in new investments during the month of July, putting an early end to the platform’s summer slump.
The Estonia-based peer-to-peer lender reported originations and investments of more than €14m (£12.11m) in July, up from €13.4m in June. This brings the total amount invested to date to €838m.
Overall, investors earned more than €2m in returns last month, while another 1,273 new investors joined the platform.
“July kickstarted what could be the rebound after a slow summer for investments and loan originations,” said a Bondora spokesperson.
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“Both originations and investments totalled over €14m each in July…and cash recoveries and collection efforts also increased.”
The spokesperson added that it also resolved an API issue last month.
Loan originations increased by 5.8 per cent month-on-month, largely due to the strong performance in the Dutch market, which grew by 23.8 per cent in July, totalling €3.67m. This represents the first time that originations in the Netherlands exceeded the €3m mark.
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Bondora noted that the Spanish market remains temporarily closed to new customer originations while the platform monitors data to change its internal risk-scoring models.
“We do this to ensure the best possible quality for our loan portfolio, which, in turn, means a better investment experience for you,” the spokesperson said, adding that existing customers were the driving force behind the €180,404 worth of loan originations in July.
The average loan interest rate increased by 0.6 per cent in July to 19.8 per cent.
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