Bondster adds new originator and two new investor incentives

Czech peer-to-peer lending platform Bondster has added new loan provider Mocasa from the Philippines to its offering, as well as two new investor incentives.

Mocasa is owned by the Philippine Cashtrout Lending Corporation and provides short-term consumer loans, with interest rates ranging from 15 to 18 per cent.

Launched in 2021, it already has attracted more than 700,000 users.

Borrowers can apply for loans PHP3,000 (£41.83) to PHP25,000. The borrowed amount can be repaid gradually in up to three installments. The total maturity period is a maximum of 90 days.

Read more: Bondster rewards investors for recommendations

Separately, Bondster announced that it is offering existing investors a bonus of 1,000 Czech crowns (£35.60) throughout September.

To receive the bonus, users must meet two conditions: the investor recommended by the user must open a Bondster investor account and invest at least 10,000 crowns in the offered loans within 30 days of registration.

Read more: Bondster launches secondary market

The other incentive is through Bondster originator Smart Finance, which provides online microloans. During September, it increasing the investor interest rate on its loans to 17 per cent.

Bondster has given Smart Finance a B+ rating.

It said that investors can access the incentive by logging in to their account and looking in the ‘investment offer’ section. To manually search for available loans, investors need to mark Smart Finance in the provider field and click the filter button.

Bondster is headquartered in the Czech Republic and has more than 12,000 investors, who have invested over £60.7m since the platform’s inception in 2017. Annual returns range between eight and 15 per cent.

Read more: Bondster names new chief executive