Bondora sees huge rise in Spanish and Estonian originations
Bondora’s originations dropped by 1.1 per cent month-on-month to reach €14.1m (£11.7m) in February, boosted by a huge rise in activity from Spanish and Estonian lending companies.
The European peer-to-peer lending platform’s Estonian and Spanish originations rose by 30.5 per cent and 90.7 per cent respectively. Meanwhile, after increasing for months its Finnish loans dropped by 15.6 per cent. The platform also welcomed 3,858 new investors last month.
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In February, Bondora said the number of payments it collected dropped by 0.6 per cent to reach 74,786 and the cash it recovered fell by 16 per cent to hit €773,447.
The most cash was recovered from Finland, which came to a total of €426,124, a 23.9 per cent rise from January.
Investors added a total of €13.9m to their Bondora accounts in February, a slight drop (1.1 per cent) in product funding, but still a solid number compared to the last couple of months.
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Go & Grow remained the most popular investment method with the bulk share (92.9 per cent) of investments, the same share as in January.
Bondora saw a drop in secondary market transactions for the third consecutive month in February as investors continue to opt for Go & Grow’s automated investments. Transactions in the platform’s secondary market decreased by 31.7 per cent from January to reach €152,547 in February.
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“February continued the same modest trend as we saw in January,” Bondora said in a blog on its website.
“Even though some figures dropped, these declines tend to be moderate or insignificant. We’re still very confident with our current position and happy to see an increase in Estonian and Spanish originations.
“Once again, we’re seeing how tumultuous life can be, and we’re pleased that we can help empower people to build their financial futures on a 100 per cent online and secure platform. By investing in your future wealth and thinking long-term, you can set yourself up for financial success.”