Financial performance of Bondora Group

For the year ending December 31, 2014, Bondora Group’s revenues were EUR 1,449,489 and its net loss was EUR 1,202,000. In 2015, revenues were EUR 2,464,849 and the net loss was EUR 1,852,783. Bondora Group anticipates that operating expenses will increase in the foreseeable future as it seeks to continue to expand its business; attract borrowers, investors and partners; and further enhance and develop its loan products and platform. Such efforts may prove more costly than currently anticipated, and Bondora Group may not succeed in increasing its revenue enough to offset higher expenses. Bondora Group is profitable on the contribution-margin level, but not on net profit; it may incur additional net losses in future and may not achieve profitability on a quarterly or annual basis. If its growth and operating plan assumptions are incorrect, Bondora Group may need to slow investment spending and/or secure new funding. Any delay in securing, or failure to secure, necessary funding could lead to delays and operational slowdowns and the insolvency of Bondora Group or companies in the group, which could adversely affect its payment processing schedule, cash flows of the Issuer´s investments, and ultimately, the value of the Issuer´s investment.

Bondora Group has been funding its operations using equity. The Series A funding round was completed in 2015. Bondora Group believes it has adequate resources to meet its investment requirements and does not have significant borrowings. Bondora Group has financially strong shareholders who can provide additional funding, if required. In addition, Bondora Group is profitable on a contribution-margin level, which means that direct business activities are profitable; its net loss largely stems from development costs that can be substantially reduced. Bondora Group will also endeavor to appoint a back-up servicer in the future to ensure continuous servicing of the Credit Assets.

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