Financial Results Position Bondora for Further Expansion

Bondora

We are proud to announce Bondora’s 5th consecutive year of profitability. With our strong foundation, we continue to offer intuitive products that empower our customers to spend, grow and save their money. Over the past 14 years, our community of 200,000 customers have invested over €590M and received €66M+ in earnings. Our financial success enables us to grow, and we have exciting projects planned for the future. Keep reading for key highlights, comments from Bondora’s CEO, and more.

Bondora Superheroes socializing in the new office in Tartu, Estonia.
Bondora Superheroes socializing in the new office in Tartu, Estonia.

Key highlights:

  • Revenue grew to €29.8M 
  • Net profit was €6.7M and net profit margin was 22% 
  • Loans issued totaled €140.7M
    • Of which €85.5M was issued in Estonia and €54.9M was issued in Finland
  • Bondora’s customer base at the end of 2021 comprised of 185,391 customers
EBITDA – earnings before interest, tax depreciation and amortization 
Return on equity (ROE) = net profit or loss for the period / total equity 
Return on assets (ROA) = net profit or loss for the period / total assets
EBITDA – earnings before interest, tax depreciation and amortization
Return on equity (ROE) = net profit or loss for the period / total equity
Return on assets (ROA) = net profit or loss for the period / total assets

Year in review

Loan originations in Finland skyrocketed to €54.9M, accounting for 21% of the loans we have issued in Finland throughout the years. In September, we relaunched operations in Spain, which have maintained a stable increase of new loans to date. As a result, our portfolio has expanded to accommodate our continuous growth of new customers and reach our goal of making investing available to everyone.

2021 ended with the highest yearly recovery rate in Bondora’s history, and €12.3M was recovered for our investors. We are off to an aggressive start this year, with new highs for our collection and recovery process already.

For the 4th year in a row, we delivered a return rate of 6.75% for Go & Grow. With its ease of use and low risk, Go & Grow remains our most popular product with investors!

CEO comments on financial results

Pärtel Tomberg, Bondora CEO and founder
Pärtel Tomberg, Bondora CEO and founder

The events of the COVID-19 pandemic and the crisis in Ukraine have made historic impacts across the globe. During this time, our investors have remained faithful and continued to entrust us to grow their money. And for that we say, thank you!

In November 2020, loan originations resumed in Finland and paved the way for a record-breaking year. Originations in October nearly doubled, and we topped €20M the following month. Since reopening the Spanish market in September, it has maintained the highest growth rate among the three countries. Because of the success in our existing markets, we are planning to launch our financial services in several new EU countries, with more information to come later.

Expanding our range of products and services offered remains a priority. Last year, we released B Secure+ for our borrowers, a major success with an upsell rate of 45%. The new and improved Go & Grow app went live in December, and has been downloaded by more than half of our active investors. Our new product, Go & Grow Unlimited, was rolled out to all of our investors this week. But it doesn’t end there. We will be announcing more products and services over the next few quarters. Stay tuned.

This all would not be possible without our dedicated team of Bondora Superheroes. We are now a team of 134 employees, almost double our staff in 2020, and we will only continue to grow. Thank you for your dedicated efforts and continuing to make Bondora the best online investment platform in Europe!

Live Q&A with Pärtel Tomberg

We are hosting a live Q&A with Pärtel Tomberg, Bondora CEO and founder, to share our financial results. The live event will be held via our YouTube channel on May 25 at 13:00 EEST. You can submit questions for Pärtel to answer here.

Don’t forget to save the date, and we will see you there!

You can read the full 2021 Financial Report here.