European peer-to-peer lending market Bondora has expanded into Latvia.
This would be the fifth marketplace for the Estonia-headquartered agency, which operates in its home market, Finland, Spain and the Netherlands, the place it launched in 2022.
“We’re joyful to announce that clients in Latvia can now entry Bondora’s handy on-line credit score monetary providers,” Bondora mentioned in a weblog put up on its web site.
Learn extra: Bondora sees Netherlands month-to-month originations surpass €1m for first time
“With each new market the Bondora Group firm launches, your funding portfolio turns into extra diversified. This helps to lower the potential dangers and enhance the steadiness of your funding, supplying you with much more peace of thoughts.
“We’re tremendously excited to carry Bondora loans to our Baltic neighbour and might’t wait to see how this market will carry out.”
Bondora’s chief government Partel Tomberg outlined his platform’s ambitions to increase into new markets earlier this 12 months.
In a Q&A video revealed on Bondora’s web site, Tomberg mentioned the corporate is actively engaged on scaling and increasing Bondora’s mortgage providers.
Different markets on Bondora’s radar embrace Lithuania, Denmark and Slovenia, he mentioned.
In March this 12 months, Bondora celebrated its 15th birthday, throughout which era noticed over €763m (£654) invested into the platform and earned €93m for over 200,000 buyers.
Learn extra: Bondora unveils new dealer partnership in Finland
Fashioned in 2008 within the Estonian capital, Tallinn, the corporate was initially often called Sõbralaen and was renamed Isepankur earlier than altering to Bondora in 2014.