Bondora reports spike in investments during 16th anniversary month
European peer-to-peer lending marketplace Bondora reported a dramatic increase in investments during the month of February, as the platform celebrated its 16th anniversary.
A total of €28,742,661 (£24,509,314) was invested last month, up from €18,802,472 in January. Bondora attributed this to the platform’s anniversary celebrations, which included hiking its maximum investment limits, and running a competition for active investors.
For the four weeks leading up to the platform’s birthday on 21 March, anyone who adds at least €100 to their Grow & Go account will be entered into a competition where they can win a weekly prize of €1,000, or a grand prize of €16,000.
The platform welcomed 2,068 new investors during February, as well as 2,320 in January.
Read more: Bondora originations and investments dip in September
However, despite the spike in investments, the value of loan originations dropped month on month. In January, Bondora’s customers originated €15,757,555 worth of loans, versus . €13,789,269 in February.
The majority of the loans originated in Ferbaury were based in Finland.
“As we’ve seen with other trends last year, Finland remains the market with the most loan originations, taking up the vast majority every month,” said a Bondora spokesperson.
Read more: Bondora raises Go & Grow limit to €1,000
“Estonia follows in second place, and thereafter, the Netherlands, which is still a relatively new market to us.
“Latvia is the most recent new loan market the Bondora Group launched and we’re expecting this market share to remain the smallest for the coming months as we grow our brand and presence there.”
Bondora officially expanded into Latvia in December 2023. By February 2024, Latvian loans claimed a 0.12 per cent share of the platform’s overall portfolio.
Read more: Bondora expands into Latvia