Bondora has achieved several milestones in October, including a new loan origination high for 2021 of €18.3m (£15.5m) and passing the €500m milestone for total investment.
Finland nearly overtook Estonia in terms of the largest percentage share of originations, rising from 38.2 per cent to 49.4 per cent. Meanwhile, originations in Estonia fell from a 61.8 per cent share to 50.5 per cent.
Bondora said that it seems likely that Finland will overtake Estonia in the next month or two. Spanish loans have restarted with a 0.1 per cent share and the European peer-to-peer lending platform said a slow start was expected.
In October, 2,650 new investors signed up to Bondora, bringing the total number to 177,959. Investment into the platform has reached €503m over the past 13 years, earning over €58m in returns for lenders.
After recovering a record €2.3m in missed payments in September, the figure dropped to €977,354 in October, with most of the recoveries made during the bailiff stage. Bondora said so far 2021 has the highest recovery rate of the last seven years, coming in at 82.7 per cent.
In September, secondary market activity fell slightly by 7.8 per cent and this decline continued in October, decreasing by 19.2 per cent to €252,156 transacted.
“The strong increase in originations has certainly made us excited for the last quarter of 2021,” Bondora said in a blog on its website.
“Finland has made huge strides in taking over the largest share of loans from Estonia.
“We also saw the highest rate of originations and investments of 2021 so far. Bondora is ready to venture into new growth territory in 2022.”