We are proud to announce Bondora’s 6th consecutive year of profitability. We received more than 1.4 million loan applications, and people have borrowed over €800M since 2008 to make their dreams come true. You can too!
In 2022, we reached several milestones:
- Our revenue was at an all-time high of €37M
- We generated a net profit of €2M
- Over 41 000 new investors joined from all over Europe
- We had over 48 000 active borrowers in Estonia, Finland, Spain, and the Netherlands
- We issued €175M worth of loans
Our revenue mainly consists of loan origination and administration fees and revenue from the sale of additional products such as insurance and flexibility products. In 2022 we issued loans of €164.2M in Estonia and Finland. During the year, we continued loan origination operations in Spain and successfully launched in the Dutch market.
During the year, loan origination fees amounted to €7.2M, loan administration fees totaled €20.2M, and the revenue from selling additional products was €8.8M.
Due to our customer base's expansion and service provision growth, our operating expenses in 2022 increased. The largest share of which is made up of advertising expenses.
We also strengthened our product and technology development teams in continuous preparation of penetrating new markets and expanding our product portfolio in all our target markets.
Our team grew by 48 people in 2022. The period's average number of staff converted to full-time equivalent was 138. Despite additional expenses, we ended the financial year with a net profit of €2.1M.
Investments in property, plant, equipment, and intangible assets in 2022 totaled €0.79m.
Bondora Group AS's 2022 year-end cash and cash equivalents balance was €10.7M. This gives us sufficient liquidity to carry out our expansion plans in 2023 without raising additional debt or equity capital.
The start of 2023 looks promising, as we've already noticed considerable growth in the first quarter.
This year, we'll continue expanding to new markets. While our expansion strategy includes launching in new markets, we're also exploring opportunities to develop new products that will better serve the needs of our customers.
This all would not be possible without our dedicated team of Bondora Superheroes. Our team is currently roughly 175 people strong, and we're continuing to grow. We even moved to a new office in June 2023 to accommodate our expanding team. If you want to join us, check out our vacancies here.
We work daily to diversify our product portfolio and make all our products available to more people in and outside Europe. We aim to have 1 million active customers in the next few years.
Despite the turbulent years, we've seen in the international and local fintech landscape, Bondora continues to meet growth targets. With five consecutive years of revenue growth, and consistent profitability, we're satisfied and confident with our growth trajectory.
For more information, please download Bondora Group’s Annual Reports below for free.
- 2016 Bondora AS Consolidated Annual Report ENG.pdf (600 KB)
- 2017 Bondora AS Consolidated Annual Report ENG.pdf (900 KB)
- 2018 Bondora AS Consolidated Annual Report ENG.pdf (100 KB)
- 2018 Bondora AS Consolidated Annual Report EST.pdf (100 KB)
- 2019 Bondora AS Consolidated Annual Report ENG.pdf (100 KB)
- 2020 Bondora AS Consolidated Annual Report ENG.pdf (186 KB)
- 2020 Bondora Group Sworn auditor's report IFRS ENG.pdf (94.7 KB)
- 2021 Bondora AS Consolidated Annual Report ENG.pdf (196 KB)
- 2021 Bondora Group Sworn auditor's report IFRS ENG.pdf (121 KB)
- 2022 Bondora Group AS Consolidated Annual Report ENG.pdf (199 KB)