Exclusive: Estonian P2P lender to expand into US

Tallinn, Estonia-headquartered Bondora, which already operates across Western and Eastern Europe, plans to launch in the US.

Peer-to-peer lender Bondora is planning to establish a US business in the next month or two, said people familiar with the firm’s plans. The platform, which is headquartered in Tallinn, Estonia, recently started a pan-European lending platform, after lining up $5 million in financing, from one of the early investors in Lending Club, the Financial Times reported in February.

The firm received the capital from New York-based Valinor Capital Management, the hedge fund run by David Gallo, earlier this year.

Bondora is headed by Partel Tomberg as chief executive and co-founder. The firm’s platform allows for investing in European personal loans. Since 2009, it has processed over €400 million of loan applications from prime and near-prime borrowers, according to Bondora’s website. 

Peer-to-peer and other online and marketplace lenders expanding abroad has been a talking point at the annual LendIt USA conference in New York this week. US small business lending platform OnDeck also announced an expansion into Australia yesterday (14 April).