December 22, 2023,

November 2023: €10M+ Loans Originated in Finland

Bondora Go & Grow

Editorial team

Table of contents

November showed signs of slightly less activity for loan originations. Finland remains the most robust loan market, with over €10M in loan originations in November alone. Due to strategic risk policy changes, the Spanish market is also temporarily closed to existing customers. Cash recoveries increased by 3.3%, totaling €1.7M. Here are more November stats:

*November 2023: €10M+ Loans Originated in Finland*.

In November, investors earned over €2M in returns, and the total product investment amount increased to €899M!

Loan Originations

Loan originations declined by 8.8% in November, undoing the increase of the month prior. This totaled €14,312,404, compared to €15,696,033 in October.

Despite the decline, Estonia showed strong growth, increasing by 11.1% to a total of €2,497,805.

The Finnish market’s loan originations dipped by 10.3%, totaling €10,889,935. Despite the decline, the significant amount is still a testament to how many Finnish customers choose Bondora as their trusted loan partner.

In The Netherlands, a total of €924,664 in loans originated, a 26.7% decline from October.

As mentioned last month, in mid-October, we also closed loan originations to existing customers in the Spanish market. It remains a temporary measure, and we will continue further research and analysis. We do this to ensure the best possible quality for our loan portfolio, which means a better investment experience for you. Thus, there were no loan originations made in Spain in November.

Finnish loans have the majority share, with a dominant 76.1% share. Estonia increased its hold on the second-largest share, with 17.5%. The Netherlands follows in third place with 6.5%. Spain, naturally, had 0.0% in November.

The average loan interest rate grew from 19.0% to 19.3%.

Loan risk ratings and split per country

Below, you can view the different loan risk ratings and their percentage split across countries of the general loan portfolio. You can easily compare the changes between October and November:

*Origination shares by rating/country – November 2023*

*Origination shares by rating/country – October 2023*

For more in-depth statistics, you’re welcome to view them on our general statistics page for daily updated figures.

Investment product funding

After increasing in October, investment product funding decreased slightly by 8.8%. This brought the total funding into investment products to €14,312,404.

€14,263,030 was funded to Go & Grow and €49,344 was invested using the API. That’s an 8.9% decrease rate for Go & Grow and a 12.7% increase for API investments. Below, you can see the investment funding percentage split for November.

*Investment shares across Bondora products in November 2023.*

Secondary Market

Surprisingly, November didn’t follow the up-down trend that’s been the norm since May. After increasing in October, the total value of transactions increased again in November. Transactions totaled €149,180, growing a whopping 40.8% from October.

This is the highest transaction amount since January 2023. This growth was mainly influenced by the increase in manual transactions, which grew 61.9% and totaled €113,101. The API remained virtually the same, decreasing by 0.1%, totaling €36,079.

At a 75.8% share, manual transactions continue to have the most significant share. The API has a 24.2% share.

*Secondary Market total transactions – November 2023*

Collection and Recovery

In November, we recovered €1,734,386 across our loan markets. This is a 3.3% increase from October.

Once again, Estonia was the market with the highest cash collection, with €923,553 recovered. In Spain, we recovered €93,222. Finnish cash recoveries totaled €712,419. In the Dutch market, we recovered €5,192. These are the only two markets where our recoveries increased from October.

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P.S. Check out the recap of Bondora and our investors’ biggest moments of 2023!

Bondora Go & Grow

Editorial team

At Go & Grow, our Editorial Team combines years of fintech experience with a passion for financial education. We’re here to share trustworthy insights, platform updates, and easy-to-understand investment tips for everyone.

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Frequently Asked Questions

How is Bondora regulated?
Bondora Capital’s business model is unique, with no direct precedents in the market. As such, there is currently no specific regulatory license that directly applies to our Go & Grow product. However, we work proactively with regulators across the EU to ensure full compliance with all applicable local laws and regulatory frameworks.

To support this, we regularly publish financial updates, audited annual reports, and disclosures, reinforcing our commitment to transparency and investor trust.

At the same time, Bondora Capital is subject to all relevant general regulations, including (but not limited to) the Estonian Consumer Protection Act, the Law of Obligations Act, the Commercial Code, the Accounting Act, the Competition Act, and the General Data Protection Regulation (GDPR).

Additionally, Bondora AS, a member of the Bondora Group, operates as a Licensed Credit Provider under the supervision of the Estonian Financial Supervision and Resolution Authority. In Finland, we operate through a licensed branch regulated by the Finnish Financial Supervisory Authority. We also hold an operating license in Latvia, supervised by Latvijas Banka, and have recently received regulatory approvals to operate in both Denmark and Lithuania.
Are Bondora AS's loans secured?
Bondora issues unsecured loans, meaning credit customers are not required to provide collateral. This approach allows us to offer a faster, simpler, and more accessible lending experience.

Risk is mitigated through multiple layers of protection. Our underwriting process is powered by predictive, data-driven models, trained on deep datasets collected over 17 years. Each borrower is carefully evaluated using a wide range of creditworthiness indicators before any loan is issued.

With Go & Grow, your investment is automatically diversified across hundreds of thousands of loans in multiple countries. This significantly reduces individual borrower risk and adds a layer of protection against regional or geopolitical events.

In the rare event of non-payment, we follow a structured recovery process, working with professional debt collection agencies and, when needed, escalating cases through local legal channels to pursue repayment.
What happens when a borrower doesn't repay?
At Bondora, we do a lot to prevent repayment issues before they happen. Our advanced data models carefully assess each borrower’s creditworthiness, using historical data and predictive analytics to minimize the likelihood of default from the start.

If a payment is delayed, we act quickly but thoughtfully. From the first day of the delay, we reach out to the customer via email, SMS, and automated calls to remind them of their delayed payment and offer flexible options to get back on track. The aim is to find a solution together, whether that means a new payment date or a short-term adjustment.

If the situation doesn’t resolve, we may involve our internal teams or trusted partners to continue the dialogue and explore further options. In some cases, if communication is unsuccessful, the matter may be escalated to the local legal system in line with standard procedures. Legal steps are always a last resort, and the goal is to find the best possible outcome for everyone involved.

Throughout this process, our focus remains on recovering outstanding amounts responsibly and respectfully while protecting investors’ interests.

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What are temporary partial payouts?
Under normal conditions, your Go & Grow withdrawal is paid in full with a single transaction near-instantly. However, in rare and extraordinary circumstances, partial payouts may be activated temporarily. This means your withdrawal will be split into smaller, daily payments until the full amount has been delivered. Only one €1 withdrawal fee applies once you’ve received the full amount.

This protective feature was built into Go & Grow from the start to help maintain stability and safeguard investor returns, so you can stay on track and stay earning, even when the world feels uncertain.

In Bondora’s 17-year history, partial payouts have only been activated once.

While we aim to keep Go & Grow fully liquid, this feature ensures that when conditions require it, your investments remain protected and continue to work for you.
What happens to my investments if Bondora goes bankrupt?
Your money is protected. Even in the highly unlikely event that Bondora Capital becomes insolvent, your investments remain yours. Investors legally own the loan claims, not Bondora Capital.

This means Bondora’s financial situation does not affect the legal ownership of those claims—they continue to belong to the investors. The claims are not part of Bondora’s bankruptcy estate.

Risks related to Bondora as a company are separate from the risks associated with your investment portfolio. Simply put, if Bondora disappears, your investment doesn’t.