The team at European lender Bondora notes that they have kicked off the new year with many investors joining their platform.
Originations and investments fell a bit, as they did during the month of December, but managed to maintain solid numbers when compared to January 2021.
In January 2022, there were 4,714 new investors that decided to kick off their year by joining Bondora. This is greater than any number of new investors the team saw in 2021.
As noted by Bondora, there are now more than 190,105 investors on their platform. Their total investments have surged to €553M—”up more than €13M from December.” Investors have also earned over €62M in returns in total.”
In January, loan originations for 2022 “started slightly slow, with €14,283,101 loan originations on the platform.” However, this is a significant improvement when compared to only €6,186,462 that was originated back in January 2021.
The company further noted that Finnish loans not only make up the biggest share of originations, but their share surged from 56.2% to 70.3% of the loan portfolio. Estonian loans currently “make up 28.3% and Spanish loans 1.4%.”
The update further noted:
“In contrast to the up and down pattern we’ve become accustomed to with the Secondary Market, January’s activity continued to decline from December’s drop, falling from €250,404 in December to €223,396 in January. API transactions rebounded from their fall in December, bouncing back by 25.5%. The other categories declined. Overall, activity saw a drop of 10.8%.”
The Bondora team added:
“We ended off 2021 with a good month of collection and recovery. We recovered 73,962 default payments, resulting in €855,788 cash collected. As we’ve seen throughout the last few months, the Bailiff stage is responsible for the most cash recovered, by far.”
The platform’s collection and recovery team “set the bar high for 2022.”
In January, they were able to increase the number of payments and the amount of cash collected. A total of 75,219 payments were recovered—”a 1.7% increase.” And the cash recovered from those payments “increased by 7.6% to €920,640.” The most cash was “recovered from Estonia during the Bailiff stage,” the update revealed.
The update further revealed:
“In January, a total of €14,092,612 was invested on Bondora. Even though there was a decline of 14.7% in product funding, it was still an excellent start to the year compared to January 2021, when only €6,186,462 was invested. As always, Go & Grow amassed the most funding—€13,089,600. This is a 92.9% share of all investments. Portfolio Manager still has the 2nd biggest share (4.1%) with €575,936 invested.”
According to Bondora, the year is off to “a modest start when it comes to loan originations and investments.” However, the team says they are happy to be in “a much better position now than one year ago.” Their collection and recovery efforts have also “paid off and started 2022 well.” All this sets them up for what they are hoping will be a year of “breaking records.”