Bondster's turnover grew by 81%

Bondster's turnover grew by 81%

Bondster news
Bondster's turnover grew by 81%

Bondster managed to increase its turnover by 81.2% last year despite the COVID-19 pandemic, the financials for 2020 show.  

Last year was marked significantly by the coronavirus pandemic, which affected all sectors, including the financial one. Investing in loans took a hit too, although it has been on the rise in recent years all over the world.

A good thing is that this investment sector has returned to normal very quickly this year. Current Bondster results even show that since April this year, the monthly volumes of money invested have reached the pre-pandemic levels.

Bondster in 2020

Bondster (part of the Czech investment group CEP Invest) followed its long-term strategic plan last year and further expanded its activities. Not only it has significantly increased the amount of money invested through its platform, but it has also increased the total number of loans available for investment and further expanded the range of loans for investors from new providers.

More specifically, investors invested EUR 19,090,400 (487 million crowns) through the platform last year. This means an increase of total funds invested from EUR 33,398,400 (852 million crowns) to EUR 52,488,800 (1,339 million crowns) in 2020, which corresponds to a year-on-year increase of about 57%. There was also a significant increase in terms of the company's turnover, which reached EUR 568,400 (14.5 million crowns). In 2019 it was less than EUR 313,600 (8 million crowns).

Following its strategic plan, the company's growth also lead to higher costs, both personnel and operating. These costs then resulted in the loss incurred in 2020. According to the updated plan, Bondster will break even (get in the black) next year.

You can find detailed financial information for 2020 in the income statement here.

Author: Michal Rázga



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