james
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Post by james on Feb 4, 2016 1:38:59 GMT
Interesting numbers in their blog post Milestone reached: €50 million loans issued: €9m November 2011 to January 2013 lending €10m January 2014 to July 2014 lending €10m July 2014 to January 2015 lending €10m January 2015 to July 2015 lending €10m July 2015 to January 2016 lending The blog entry claim "the fact that we are growing so quickly is very rewarding and we are humbled by the trust given to us" is interesting with no growth in new lending rate, the ending of which roughly corresponds to the time when investors started to become more substantially unhappy with the platform. Not something that I'd want to be explaining to venture capital funders, who look for ongoing or accelerating growth. Funding rounds seem to have been €4.5m series A on 27 February 2015, €1.3m November 2013, €40k July 2011, €75k August 2009. With neither the November 2013 or February 2015 funding resulting in growth in lending volume it'll be interesting to see how much more funding is available. I assume that this may explain the relative increase in attention to things which are supposed to improve the lender experience, and sometimes do. Trust may be a harder issue, with the secondary market charging mess late last year showing that they just don't seem to understand that you can't mislead investors and expect them to trust you. |
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parisingoc
Member of DD Central
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Post by parisingoc on Feb 4, 2016 10:40:20 GMT
OK, so I haven't done the numbers, but I suspected that growth was non-existent.
It was that feeling that has also lead me to the conclusion that the latest changes are about cost-cutting. IMO, the latest changes to the site could be interpreted as reducing the maintenance load - clearing out the web site so it is pared down to the minimum. Changing the way things are processed (such as reducing the overnight bank transfer runs, indicated by appearing later in the evening) to reduce server costs.
Partel's comments about a "cleaned and close-knit team" suggests "smaller".
This feels like an organisation that is struggling.
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carlos
I'm short Bondora and long p2p.
Posts: 104
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Post by carlos on Feb 4, 2016 10:51:21 GMT
I assume that this may explain the relative increase in attention to things which are supposed to improve the lender experience, and sometimes do. Trust may be a harder issue, with the secondary market charging mess late last year showing that they just don't seem to understand that you can't mislead investors and expect them to trust you. Fees could be easily fixed by some one-time script that would refund each user their fees for relevant transactions... What is more suspicious is that there are bugs or mistakes in scripts that take care of maintenance of the whole process of accounting / marking loans overdue (or more importantly - defaulted). One of these glitches was revealed in B-secured loans (and probably also with other loans) that resulted in single digit percentual increase in default rate in December. I was warning about this inconsistency in loan database 5 weeks in advance to this "resolution" - for this 5 weeks support was not able to explain this discrepancy and tried to talk me out of my suspicion (telling me I'm interpreting stats in wrong way). But discrepancy could be easily seen by sudden changes in Account Value (high decreases not corresponding to any new investments). These time-to-time changes were in my opinion made by occasional running of scripts made to correct these bugs (about 25th day in each month). I suspect there are more like this as support is unable to explain why the number of payments in projected cashflow fluctuates (there are sudden increases in about 50-100 payments in my account month over month - as portfolio is not reinvested this number should constantly decrease each month - as number of fully repaid loans increases).
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duck
Member of DD Central
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Post by duck on Feb 4, 2016 15:37:16 GMT
It was that feeling that has also lead me to the conclusion that the latest changes are about cost-cutting. as was passing the cost of recovery onto lenders. I must admit I haven't been crunching numbers on 'growth' but just looking at the weekly Emails suggests a marked decrease in loans so without increasing fees and cutting costs I cannot see how 'growth' can be claimed.
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yacop
Posts: 68
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Post by yacop on Feb 4, 2016 16:05:43 GMT
This is the montly loan volume according to the loanbook (31.Jan 2016) imgur.com/43RGCrP
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james
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Post by james on Feb 4, 2016 19:24:54 GMT
The monthly totals show that there has been 9% growth in 2015 compared to 2014:
2014: 19,382,344
2015: 21,179,138
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Post by rahafoorum on Feb 4, 2016 21:04:24 GMT
The monthly totals show that there has been 9% growth in 2015 compared to 2014: 2014: 19,382,344 2015: 21,179,138 You might also want to take a look at the bigger picture and compare this with demand info from newsletter for example. Although that's partly messed up by the changes in the processes. Another thing you might check is monthly applied amount vs funded amount for loans where CreditDecision = 1 and IsInactiveDuplicate = 0. Could end up with some interesting tables.
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james
Posts: 2,205
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Post by james on Feb 5, 2016 1:56:39 GMT
Yes, approved that didn't get funded would be interesting. I probably won't do the analysis.
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Post by rahafoorum on Feb 5, 2016 9:49:02 GMT
Yes, approved that didn't get funded would be interesting. I probably won't do the analysis. You should keep in the loans also that did get funded. Most of them are not fully funded to the amount requested by borrower.
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Post by rahafoorum on Feb 28, 2017 13:33:07 GMT
Might be interesting followup to this topic. Growth for loans issued in 2016 compared to 2015 was less than 9%.  |
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Post by rahafoorum on Jul 27, 2017 14:25:21 GMT
Based on Bondora's annual report, seems that my figures are incorrect. They claim to have had a growth of over 20% in loan volumes. Probable reason is that they show inflated figures for loans issued in 2015 in their public dataset.
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