Bondora saw its originations continue to rise for the sixth consecutive month in June to reach €11.04m (£9.44m).
This represents a 5.9 per cent growth rate when compared to May. The majority of the European peer-to-peer lending platform’s originations came from Estonia (69.4 per cent) at an average 25.7 per cent interest rate and Finland (30.6 per cent) at an interest rate of 19.1 per cent.
Read more: Bondora boosts loan recoveries
Estonian originations added new rating categories in June, making AA and A-rated originations on the month for the first time in over a year, which came to €537,701 and €805,481 respectively.
These additions reduced the percent share of Estonian originations for the remaining rating categories.
Meanwhile, Finnish originations continued with D-rated loans, which equalled €3.15m in June and an almost identical 19.1 per cent interest rate compared to May.
The average loan amount for Finnish originations fell for the third month in a row, this time by 8.4 per cent to €2,438. After increasing in May, Estonian originations dropped by 2.6 per cent in June, to an average amount of €2,744.
In June, the average income of Estonian borrowers increased significantly by 55.1 per cent to reach €2,268. Bondora said this is a good sign that incomes in Estonia are recovering and growing after a slow start to 2021.
Meanwhile, Finnish borrowers saw their income drop by 11.5 per cent to reach an average of €3,038.
Read more: Bondora hits €10m monthly lending target
“After passing €10m in May, Bondora outdid itself with €11,036,285 in June, making it another great month for Bondora originations,” Bondora said in a blog post on its website.
“This growth was led, in part, by the new originations in Estonian AA and A-rated categories, which hadn’t seen loans in over a year. With these new rating categories intact, all signs point to even more growth for Bondora originations in the months to come.”