On 9 March, we had the first live Q&A for 2022. Our CEO and Founder, Pärtel Tomberg, shared our stance on the war in Ukraine, what we’ve done to help, and shared more about our future plans and stability in times of crisis. He also answered questions directly from our investors. We received nearly 100 questions! Thank you for sending your questions and participating in the live Q&A. Here are a few of the most-asked questions from the live Q&A session. To watch the full recording, please visit our YouTube channel.
War on Ukraine
The cold-blooded attack on Ukraine and its freedom should end. We want to help support Ukraine and its brave people however we can, which is why Bondora has donated to Mondo, an NGO providing humanitarian aid in Ukraine.
Additionally, we are working with refugee organizations to provide employment options, housing, and necessary goods and services to Ukrainian refugees coming to Estonia. We’re encouraging all our able customers to do whatever they can to help those who need it.
Many questions revolved around the war and how this could affect Bondora. This is, of course, completely understandable, and Pärtel shared why there’s no cause for concern:
Slido question: How can this war between Russia and Ukraine affect Bondora Go & Grow investments?
We believe the effects will be minimal. Our active loan markets are in Estonia, Finland, and Spain. We have no business operations in Russia, Belarus, or Ukraine, so the war has no direct impact on our operations or future plans. Estonia moved away from Russian markets 15 years ago in terms of economic relations. And our borrower markets also have minimal economic relations with Russia. Even though energy prices will be affected across Europe, the Go & Grow portfolio size makes it nearly impossible for the portfolio to be affected. And the high diversity of the portfolio mitigates risks, along with higher returns that are used to act as a buffer.
Slido question: What percentage of investors are from Russia, Belarus, and Ukraine? Will they be restricted?
Bondora only accepts investors from the EU and EEA, so no additional restrictions are needed. No one under sanctions can use or sign up for our services.
Slido question: Is my money safe during a war that’s happening 1,000 kilometers away?
Since the end of the Soviet Union in the 90s, there’s been no direct threat to Estonian borders. Estonia is part of NATO, as well as the EU and Eurozone. We have disaster management policies in place. Our data centers are located in Germany and in the cloud. The money is spread across multiple banks throughout Europe, and our employees can work remotely 100%.
Bondora has disaster management processes in place to continue our operations, despite the war in Ukraine and possible escalation. An invasion of Estonia is very unlikely, but even if that should happen, we are confident in our plans to keep Bondora as strong as ever.
Bondora’s stability and future plans
2021 was a strong year for Bondora. Our capital base has been built for new investments, and we’ve grown an ambitious and experienced team of over 100 employees. Together, our available capital and our team of superheroes will work towards a new, ambitious growth plan for Bondora.
We will be launching new products and new borrower markets. We want to double the markets we operate in.
Bondora is adaptable and has gone through numerous international crises: the 2008 financial crisis, the Eurozone crisis, the Spanish recession, the Finnish recession, Brexit, and the Covid crisis. And so, we are going full-steam ahead with our plans for the future.
Slido question: What are the plans for 2022?
We plan to launch new products and launch more markets in the EU. We are working on a product that will benefit investors and borrowers, and will continue to improve our investors’ customer service and user experiences. Adding functionalities to the Go & Grow app is our main focus right now. We’re also working on a card product. Stay tuned!
Slido question: Will there be an option to invest more than €1,000 per month?
We are working on a product that allows investors to invest more than the monthly limit. Stay tuned, and make sure you check out our blog, social media, and email newsletters for updates!
Slido question: Will there be a product with more than 6.75% return?
Go & Grow as it is, provides excellent value. It offers a solid and stable return, gives investors access to fast liquidity, and has an easy-to-use experience. Go & Grow far outperforms other similar products that we measure against these same benefits, and so, we don’t see a need to change Go & Grow right now.
This was a summary of the live Q&A. To watch the full recording, please visit our YouTube channel.