December 16, 2025 For investors

At Bondster, we regularly review the financial performance of our loan originators. This time, we focused on the Bulgarian company ITF Group JSC, which continues to grow steadily and deliver outstanding results. The data confirm that Bondster investors have access to verified and high-quality loan originators on the platform.

ITF Group JSC is a well-established and fast-growing Bulgarian fintech company providing consumer loans. It specializes in personalized non-bank financing and has more than a decade of experience in the industry.

The company is regulated by the Bulgarian National Bank, and since 2022 its shares have been publicly traded in the BEAM segment of the Bulgarian Stock Exchange. The market knows ITF primarily under the SmileCredit brand, and it ranks among the top five providers of online consumer loans in Bulgaria. In addition to its core online business, ITF also operates a network of physical branches.

The company’s efficient business model is built on innovative technological solutions and a strategic focus on customer experience. Thanks to its proprietary scoring models and fully digitalized processes, ITF Group can manage credit risk effectively. Based on our internal assessment, it is among the most stable originators on the Bondster platform, with strong growth potential.

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ITF Group in the Best Shape in Its History

In 2025, ITF Group is achieving record results. The latest financial statements as of 30 September 2025 clearly show that the company is in its strongest position since its inception, with positive momentum across all key performance indicators: portfolio expansion, profitability, and liquidity.

Jiří Hronek, a financial analyst at the Bondster platform, comments: “What I highlight most is the growth in profitability. Since joining our platform in 2020, ITF has significantly increased its profit every year, and the latest results confirm that this strong trend continues.”

Additional Key Metrics We Monitor

• Portfolio growth: the 4-year CAGR is 46%, with collections consistently exceeding new disbursements over the long term
• Return on assets: in Q3 2025, it reached 21.7%, the best result in the company’s history (ROA based on EBIT / average assets was 15.29%)
• EBITDA (TTM): the company’s EBITDA on a trailing twelve months basis reached EUR 5.177 million
• Liquidity and capital position: these have continued to improve in recent quarters
• Cash flow: the loan portfolio generates stable and growing income
• Cost base: costs are rising only moderately, while revenues and portfolio size are growing significantly faster

Regarding the development of the ITF Group, CEO Svetoslav Angelov said:

“ITF sees itself as a fintech company whose success is driven by innovation and an exceptional customer experience. An integral part of that experience is the company’s highly responsible approach towards our clients and investors. Overall, through our business model we aim to offer investors attractive long-term alternatives through a range of investment instruments. We have set very ambitious goals for ITF’s business growth. According to our forecasts, in 2025 we expect to expand our client portfolio and achieve sustainable growth in the volume of loans provided. Our goal is for revenues and profits to continue growing at a very high pace in the coming years.”

ITF on Bondster: Key Figures

Year of onboarding: 2020
Total invested volume: CZK 545.26 million
Number of investors who invested in ITF: 4,746
Average investment per investor in ITF: CZK 114,888

Stable and Proven Loan Originators

ITF Group confirms that investing in loans on Bondster can deliver stable returns. However, it is not the only originator worth watching. The platform also offers other companies from the Czech Republic and abroad that have consistently demonstrated their reliability and quality over the long term. Explore the current offer and start earning.

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Author: Roman Muller

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