Bondora plots product launches
Bondora plans to launch new products and expand into more markets in the European Union (EU).
Founder and chief executive Pärtel Tomberg said in a Q&A with investors that after growing Bondora’s capital base and staff numbers last year, it is focusing on adding functionalities to its Go & Grow app, is working on a card product and is developing a product that allows lenders to invest more than the €1,000 (£841) monthly limit.
He said the European peer-to-peer lending platform is working on a product that will benefit investors and borrowers and will continue to improve its investors’ customer service and user experiences.
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“2021 was a strong year for Bondora,” Tomberg said in a blog on its website.
“Our capital base has been built for new investments, and we’ve grown an ambitious and experienced team of over 100 employees. Together, our available capital and our team of superheroes will work towards a new, ambitious growth plan for Bondora.
“We will be launching new products and new borrower markets. We want to double the markets we operate in.
Tomberg said that its active loan markets are in Estonia, Finland, and Spain. He added that it has no business operations in Russia, Belarus, or Ukraine, so the war has no direct impact on its operations or future plans.
He added that an invasion of Estonia is very unlikely and that it has disaster management processes in place.
“Since the end of the Soviet Union in the 90s, there’s been no direct threat to Estonian borders,” Tomberg said in the blog.
“Estonia is part of NATO, as well as the EU and Eurozone. We have disaster management policies in place. Our data centers are located in Germany and in the cloud. The money is spread across multiple banks throughout Europe, and our employees can work remotely 100 per cent.
“Bondora has disaster management processes in place to continue our operations, despite the war in Ukraine and possible escalation. An invasion of Estonia is very unlikely, but even if that should happen, we are confident in our plans to keep Bondora as strong as ever.”