September was an exciting month for us. We launched a new market, and Spanish originations exceeded €1M for the first time since March 2020. Originations and investments declined somewhat, but Secondary Market activity increased, and collection & recovery figures remained strong, exceeding €1 million. Read more:
In September, 2,021 new investors joined Bondora—the highest number of new joiners since May! Our total investment has increased to over €668M, and investors have earned more than €82M in returns.
Regarding loan originations, the overall number might have declined by 12.8% to €12,562,218, but we had an inspiring month for our loan markets. First, we launched the Netherlands market in September and have already originated over € 200,000 worth of loans! And, as if that weren’t enough good news, Spain originated over €1M worth of loans in September, the highest amount since relaunching the Spanish market. This month, Finland had the largest decline (-21.8%) but still garnered the largest amount of originations (€6,477,798). Estonia had the 2nd largest decline, dropping by 14.9% to €4,809,113. The average interest rate increased from 22.3% to 22.8%.
After 3 months of consecutive decline, we saw an increase in Secondary Market activity. Transactions increased by 13.9% to €101,007’s worth transactions. All the categories increased, except the API. It declined by a minuscule 0.1% and accounted for €29,765’s worth of transactions, the 2nd most significant share. Manual transactions still have the largest share of transactions (65.0%) and increased by 21.8%. Portfolio Manager transactions declined by 12.2% and accounted for €5,547’s worth of transactions.
It was a strong month for collection and recovery statistics, as the number of loans and the amount of cash recovered increased. The number of recovered loans increased by 2.2% to 83,308. In contrast to last month, total cash recovered increased by 6.5% to €1,117,708. We are happy to see it continues to exceed €1 million. In September, the majority of the cash was recovered from Estonia (47.6% share). Finland follows with a 45.8% total share, and Spain with 6.6%. The current 2014-2022 recovery rate remains solid at 49.8%, increasing by 0.2%.
September marks the 2nd month of consecutive declines in investment products’ funding statistics. Overall, there was an investment decline of 14.8%. Investors added €12,252,773 to their Bondora accounts. Once again, Go & Grow’s figures had the most significant effect, as it is the most used investment product, making up 96.9% of all investments. It received €11,876,545 in investments, despite dropping by 14.8% from August. Portfolio Manager received €219,578 and Portfolio Pro €155,355.
Investment product funding figures:
Go & Grow – 14.8%
Portfolio Manager – 1.8%
Portfolio Pro – 1.3%
API – 20.1%
In summary:
Although there were some declines in originations and investments, we saw positive increases in Secondary Market activity, and recovery statistics, with over €1M recovered in September alone. We launched the Netherlands loan market and already originated over €200,000 in less than a month. Spain also celebrated its first month of over €1M originated since its relaunch, which excites us even more for the future.
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