European peer-to-peer lender Bondora has entered the Canadian marketplace offering investors an opportunity for higher-yield returns on the European loan market.
Bondora, an Estonia-based online lender, entered the Canadian market at the end of September and allows accredited investors the opportunity to invest directly in personal unsecured loans across three European markets: Finland, Estonia and Spain. (An accredited investor has to have a minimum individual income of $250,000.)
“We are able to provide investors with a diversified spread of different loan exposures in different jurisdictions, multiple geographies and various risk classes of loans,” said Partel Tomberg, chief executive officer and co-founder of Bondora. “The borrowing markets we operate in have highly inefficient banking systems and limited alternative financing options for borrowers – thus ensuring premium returns to investors.”
Since the company’s launch in 2009, Bondora has processed over €400-million ($587.1-million) of loan applications and consistently delivered double-digit returns to investors – averaging 18 per cent, says Mr. Tomberg.
http://www.theglobeandmail.com...
