Bondora reports seventh year of profitability
Bondora Group has reported a 59 per cent year-on-year increase in profits to €3.4m (£2.9m) in its 2023 financial results.
The European peer-to-peer lending marketplace also posted revenue of €44.4m, up 21 per cent compared with 2022.
Read more: Bondora originates record €32.8m
During the period, the platform increased the average number of its employees to 166 from 138 in 2022. It also reported a return of equity of 17 per cent, up from 13 per cent year-on-year.
In 2023, Bondora issued €202.5m worth of loans, including €139m in Finland and €40.2m in Estonia. It made €7m from loan origination fees and €23.1m from loan administration fees, while revenue from the sale of additional products totalled €13.3m.
The group said 2023 also marked the sixth year that its Go & Grow investors had a return of up to 6.75 per cent per annum on their investment.
Working towards its goal of having one million active customers, Bondora expanded in the Netherlands and entered Latvia in 2023, increasing its team by 28 people.
The group ended the year with cash and cash-equivalents of €11.5m, saying that this gives it sufficient liquidity to carry out its expansion plans, which include entering new markets.
Read more: Bondora celebrates €1bn milestone
Read more: Bondora bolsters supervisory board
