After carefully watching the number of new investors each month, we’re happy to announce that there are now over 200,000 investors accounts on Bondora! We’re thrilled that more and more people are choosing to invest with us. Our cash recoveries for May also shook things up, jumping to €2,204,584 cash recovered! Our originations and investments remain solid at over €15M each. Take a closer look:
We’re thrilled to announce that we now have over 200,000 investors who’ve signed up on Bondora! It’s a milestone we’ve been looking forward to. In May, 2,245 new investors joined Bondora. This is slightly less than in April. We’ve also increased our investment total to more than €600M! Over €15M was invested last month, and investors have earned more than €75M in returns.
Countering April’s increases, we saw a trend of declines in May. With loan originations,there was an overall decline of 0.5% to €15,618,880. A slight decline, but a decline nonetheless. This downward trend was mainly due to a decrease in Finnish loan originations (-9.7%), totaling €8,485,317. As we’ve come to expect, the largest increase came from Spain (+31.7%), with €827,001 originated. The 2nd largest origination increase came from Estonia (+11.3%), with €6,306,562. Despite their decline, Finland still has the majority of originations, with 54.3%. However, Estonia is catching up with 40.4%, and Spain continues to grow its placeholder with 5.3%. The average interest rate increased again from 22.1% to 22.4%.
Marking a turn in the tide, Secondary Market activity increased for the first time since March. It grew by an astounding 21.5% to a total of €182,665 transacted. This month, all the categories had increased. Portfolio Manager leads the charge with an 87.3% increase. API transactions followed with 24.1% growth, and Manual transactions brought up the rear with 12.3%. It must be said that Manual transactions still account for the largest percentage of all transactions (49.3%). However, when it comes to current transactions, the API takes the lead with a 46.9% share, which equals €64,998 in transactions.
Our collection and recovery figures continue to shine in 2022. We had some off-the-charts numbers in May, mainly due to the sale of old, defaulted loans from the Estonian market (you can read more about that sale in this blog post). Overall, our cash recovered increased by 174.6% to €2,204,584. This is one of our highest figures in history! As was the case in April, the majority was recovered from Estonia (€1,628,524). In contrast, the number of recovered loans decreased by 3.7% to 76,359. The largest share also came from Estonia (44.3%). The current 2014-2022 recovery rate is a striking 52.2%—a slight increase from last month’s 51.0%.
After setting a new 2022 record for product funding in April, May’s figures fell just below, declining by 0.6% to €15,458,394. Go & Grow remains the overwhelmingly significant product with €14,980,825, Portfolio Manager follows with €274,161, then Portfolio Pro with €200,872, and lastly, the API with €2,536. Go & Grow was the only product to have an increase (+3.5%). All the other products declined:
Product funding figures:
Go & Grow + 3.5%
Portfolio Manager – 54.4%
Portfolio Pro – 57.1%
API – 70.7%
In summary:
2022 continues on solid strengths, with consistency and stability being the overall trend. We’re happy to celebrate our growing investor community and increases in our recovery and collection efforts. Originations and investments grow in tandem as we go further into the year. Go & Grow continues to garner more investments and has had its highest level of investment of 2022 thus far.
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