Bondora, a European peer to peer lender based in Estonia, has announced that it has become profitable during the first six months of 2017.
Bondora stated that it had generated a net profit of €300,00 during the first half of the year. The overall revenue target for 2017 is €7 million. Since platform launch, Bondora has issues over €98 million in loans with an average net return of 14.2%. These loans are typically smaller, averaging around €2500, with a higher average interest rate. Bondora has a network of over 27,000 investors.
Bondora said the growth of the platform was the natural result of their efforts to bolster product offerings;
“Our strong start to 2017 places us on a small list of profitable fintech companies in Europe. We intend to stay there,” stated the platform.
Bondora said their presence in Estonia, Finland and Spain is growing. Even in light of increasing competition, as more and more platforms offer online lending services, Bondora remains a stable and growing P2P Lender.
“… few of these [new] entrants can say that they’ll have the longevity we expect here at Bondora. Next year, we’re celebrating our 10-year anniversary indicating that we are a stable, growing and profitable Fintech company.”
Bondora said that while profitability is good news they are particularly pleased that both borrower and investor can find value on their platform.
Bondora was recently nominated by the European Fintech Awards 2017 for Best Alternative Finance Platform.