Estonian p2p lending marketplace Bondora will open a new European office in Germany, saying that post brexit London is no longer attractive as a Fintech hub. Bondora formerly planned to move to London but stopped the plan after the brexit vote. ‘There is too much uncertainty, the UK lost its attractiveness as a fintech hub’ explains Bondora CEO Pärtel Tomberg the decision. Now he has Berlin, Frankfurt and Munich on the short-list. The head office will stay in Tallinn
For the Bondora business model very good access to the European market is crucial says Tomberg. He sees uncertainty how long London might be able to provide this.
After informal tals with German regulator Bafin, Bondora CFO Rein Ojavere got a positive view on the perspective for fintechs in Germany: ‘German’s regulators open up more and more to innvations in the financial sector to attract fintechs and seminal start-ups.’.
Bondora was founded in 2008 and currently has 45 employees.