On 19 May 2021, we announced our Financial Results for 2020. And we couldn’t be prouder. Despite the challenges brought about by the global pandemic and consequent economic struggles, Bondora increased its revenue and net profit, had multiple record-breaking recovery & collection figures, and grew its customer base significantly. Check out the highlights below:
Key highlights:
- Revenue increased by 5% to €21.4M
- Net profit stood at €3.4M—a 16% profit margin
- Originations totaled €68.4M
- Recoveries increased by 50% to €7.9M
- 44,738 new investors joined Bondora in 2020
First Live Q&A with Pärtel Tomberg for 2021
We took this opportunity to have our first live Q&A for 2021 with our CEO and founder, Pärtel Tomberg. He answered questions from investors, shared the financial results, and shared a few hints about the future plans for Bondora. If you missed it, you can watch the event on our YouTube channel.
2020 in a nutshell
Despite the uncertainty in the market, our loan originations in Estonia remained steady, totaling nearly €50M in 2020. At the beginning of the pandemic, we temporarily decided to stop issuing loans in Finland and Spain.
Then, after reviewing the data and with high confidence in our understanding of the market situation, Bondora restarted issuing loans in Finland toward the end of 2020. Originations in Spain are expected to resume in 2021, together with expanding into a new European market (Watch this space)…
Along with sustainable origination figures, 2020 was a record year for recoveries. We recovered close to €8M throughout the year, which is approximately 50% more than 2019.
Want to know more? You can read about our financial results in more detail on our support site.
