Bondora hit its target of €10m (£8.6m) of loan originations during May, declaring 2021 “a year of continuous, sustainable growth”.
The Tallinn-based peer-to-peer lending platform, which lends in Estonia, Spain and Finland said a record €10,151,227 of loans were funded last month.
The platform had aimed for €10m in monthly lending volumes after funding €9.22m of loans in April.
“2021 is proving to be a year of continuous, sustainable growth for Bondora. Investments and loan originations continue to build on the momentum we’ve seen since the end of 2020,” Bondora said.
Originations have increased every month since the start of the year, with the majority originated in Estonia.
Finnish originations are growing faster though and now makeup more than 30 per cent of the Bondora loan portfolio, the platform said.
Estonian originations are up by just under nine per cent while Finnish originations have increased by more than 23 per cent.
Bondora expects more lending once it reopens to the Spanish market later this year.
It re-entered the loans market in Finland during December 2020.
The platform now has more than 165,000 users who have funded €438M of loans.
Bondora revealed last month that it is working on a budgeting tool for users after it saw its revenues, profit and recoveries all increase during 2020.
Pärtel Tomberg, founder and chief executive of Bondora, said sustainability was the core focus during 2020 and the platform is now building a new service to help customers cut their costs and grow their money.
The platform’s net profit rose by 43 per cent from €2.4m (£2.1m) in 2019 to €3.4m in 2020 and revenues increased by five per cent year-on-year to reach €21.4m.