European Lender Bondora Shares Latest Financial Results

European lender Bondora says it’s pleased to announce their platform’s 5th consecutive year of profitability.

With their solid foundation, Bondora continues to “offer intuitive products that empower [their] customers to spend, grow and save their money.”

Over the past 14 years, the Bondora community of 200,000 customers “have invested over €590M and received €66M+ in earnings.” Their financial success “enables [them] to grow, and [they] have exciting projects planned for the future.”

Key highlights:

  • Revenue grew to €29.8M
  • Net profit was €6.7M and net profit margin was 22%
  • Loans issued totaled €140.7M
  • Of which €85.5M “was issued in Estonia and €54.9M was issued in Finland”
  • Bondora’s customer base at the end of 2021 comprised of 185,391 customers

Year in review

Loan originations in Finland “skyrocketed to €54.9M, accounting for 21% of the loans [they] have issued in Finland throughout the years.”

In September, Bondora relaunched operations in Spain, “which have maintained a stable increase of new loans to date.” As a result, their portfolio has “expanded to accommodate [their] continuous growth of new customers and reach [their] goal of making investing available to everyone.”

2021 ended with the highest yearly recovery rate in Bondora’s history, and €12.3M “was recovered for [their] investors.” The platform is off to an aggressive start this year, “with new highs for [their] collection and recovery process already.”

For the 4th year in a row, Bondora has reportedly “delivered a return rate of 6.75% for Go & Grow.”

With its ease of use and low risk, Go & Grow remains their “most popular product with investors.”

Pärtel Tomberg, Bondora CEO and founder, notes that the events of the COVID-19 pandemic and the crisis in Ukraine “have made historic impacts across the global.”

He adds that during this time, their investors “have remained faithful and continued to entrust [them] to grow their money.” And for that they say, thank you, he added.

He also mentioned:

“In November 2020, loan originations resumed in Finland and paved the way for a record-breaking year. Originations in October nearly doubled, and we topped €20M the following month. Since reopening the Spanish market in September, it has maintained the highest growth rate among the three countries. Because of the success in our existing markets, we are planning to launch our financial services in several new EU countries, with more information to come later.”

He further noted:

“Expanding our range of products and services offered remains a priority. Last year, we released B Secure+ for our borrowers, a major success with an upsell rate of 45%. The new and improved Go & Grow app went live in December, and has been downloaded by more than half of our active investors. Our new product, Go & Grow Unlimited, was rolled out to all of our investors this week. But it doesn’t end there. We will be announcing more products and services over the next few quarters.”

He added:

“This all would not be possible without our dedicated team of Bondora Superheroes. We are now a team of 134 employees, almost double our staff in 2020, and we will only continue to grow. Thank you for your dedicated efforts and continuing to make Bondora the best online investment platform in Europe.”

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