The growth that kickstarted in July has continued into August, “with increases across the board,” the team at Bondora noted.
Loan originations, as well as investment product funding, “totaled over €15M each in August. Cash recoveries and collection efforts also increased to over €1M.”
Bondora has also shared other key stats from August:
1,404 new investors joined Bondora in August. In the same month, investors “earned over €2M in returns, and the total product investment amount increased to €854M.”
Loan Originations
For the second month in a row, Bondora reports that loan originations increased. It climbed by 11.3% from July “to €15,785,232 in August.”
Finland was the predominant “growth accelerator.” The Nordic market on Bondora “increased by 34.7% after being very slow-moving in the summer months.” This has reportedy “totaled €9,337,401 in loan originations in Finland.”
Bondora further revealed that the ever-growing Dutch market also “contributed to the rise in loan originations. Passing the €4M mark for the first time in history, a total of € 4,067,370 worth of loans were originated in the Netherlands in the past month.”
Estonia declined once again this month “by 33.7%.” This brought “the total loan originations to €2,248,956.”
Bondora also mentioned that the Spanish market “remains temporarily closed to new customer originations as we monitor data to change our internal risk-scoring models.”
They do this to “ensure the best possible quality for our loan portfolio, which, in turn, means a better investment experience for you.” However, existing customers were “the driving force behind the €131,605 loan originations in August.”
Bondora added that Finnish loans, once again, “have the majority, with a dominant 59.2% share. The Dutch market retains its second-largest share with 25.8%. Estonia follows with 14.3% and Spain with 0.8%.”
The average loan interest rate “decreased from 19.8% to 19.1%.”
In tandem with originations, Bondora saw investment product funding also increase. It rose by a solid 12% compared “to the overall growth rate of 5.6% in July.” This brought the total August product investment “to €15,758,232.”
€15,722,223 was funded to Go & Grow and €63,009 was “invested using the API.”
That’s a 51.8% increase “for API investments.”
Secondary Market
Continuing the see-saw trend, Secondary Market transactions increased in August after decreasing in July. Transactions have reportedly “totaled €107,098 compared to July’s €91,737. This is a 16.7% growth rate.”
The API grew by 0.8%, and Manual transactions “increased by 25.2%. At a 70.1% share, manual transactions still have the largest share.” The API has “a 29.9% share.”
Collection and Recovery
August was another month of increases for their collection and recovery efforts. 95,123 payments “were recovered, increasing by 0.6% from July. Cash recoveries rose by 11.9%, a total of €1,110,299 recovered funds.”
Once again, Estonia is the market w”ith the highest cash and loan payment recoveries from Estonia, with €606,614 cash and 41,446 payments being recovered.”
In Finland, cash recoveries “increased by 14.4% to €456,918.” Contrary to July, Spain’s cash recovery figure also inclined, “growing 1.5% to €45,077.” There have been “no recovery efforts in the Netherlands thus far.”
The 2014-2023 recovery rate once again “slightly decreased, dropping from 52.4% in July to 52.1% in August.”
In contrast, 2023’s recovery rate “increased from 82.3% in July to 84.8% in August.”