Bondora raised $5 million in Series A from Valinor Management, a $3.7 billion US-based private investment firm, which was an early backer of Lending Club. We are aiming to replicate Lending Club’s success story by building a pan-European lending marketplace. Valinor’s Phil Austern will join Bondora Board.
Uniting European markets under the roof of a single platform creates a huge opportunity given the size of the population in the continent and the volume of outstanding debt. Thus, Eurozone countries alone account for 340 million people and EUR 1.1 trillion in outstanding consumer credit debt.
We currently serve over 9,000 investors from 33 countries, who have jointly funded over €35 million of personal loans, and we plan to use the funds and the expertise of our new investors to attract more institutional investors to the platform and start lending to borrowers in new geographies.
Earlier investors of Bondora include angel investors from Germany and Estonia, and the new investment from Valinor Management brings the total funding of the company to $7 million.