ECF

We are an international FinTech company that enables upward social mobility in diverse communities around the world by creating access to innovative and sustainable financial solutions

L
e
a
r
n

m
o
r
e

▼

Eleving Group is an international and fast-growing financial technology company with a vast reach across the globe. Founded in Latvia as Mogo Finance S.A. in 2012, expanded throughout the Baltic region within its first year of business, the Group has continued its expansion over subsequent years, servicing a total of 14 active markets by the end of 2021. With its headquarters in Latvia, the Group now operates in the Baltics, Central, Eastern and South-Eastern Europe, the Caucasus, Central Asia and Eastern Africa.

In the financial year 2021, Eleving Group had revenues of 152.2 Mio EUR with EBITDA of 58.9 Mio EUR. In 2021, the Group refinanced all of its bond liabilities by issuing new Latvian bonds in the amount of 30 Mio EUR and refinancing previous Eurobonds with a new senior secured bond simultaneously raising more capital, which resulted in a new 150 Mio EUR Eurobond with maturity in 2026. Eleving Group's net loan portfolio amounts 244.7 Mio EUR. The Group has achieved 9.3 Mio EUR of total comprehensive income in 2021.

The strategic priority of Eleving Group is focused on consistent profitable growth. The achievement of this strategy is fuelled by more than 2,600 talented team members and over 500,000 loyal customers, as well as investments in advanced technologies to deliver the best-in-class financial services.

Eleving Group's approach to business is to identify underserved markets and disruptively change them with innovative and sustainable financial solutions in the following segments:

Vehicle Finance – providing a variety of products and services through developing different brands: Mogo (vehicle leasing), Renti (vehicle rental), Primero (premium car leasing), Mogo Boda-Boda loans, Mogo Leaseback.

Consumer Finance offers short-term and long-term unsecured loans through brands including Kredo, Tigo, Bongo, Sebo, and Express Credit

Eleving Consumer Finance’s business entities focus on markets where there is a need for financial inclusion and communities that are under-served by the conventional finance industry. In most cases, there is no “middle way” between difficult-to-access bank financing and very limited expensive short-term loans.

Cash economy market conditions exist in most markets that Eleving Consumer Finance entities enters. Our companies are, therefore, often the only ones which offer both online and offline customer service experiences. With more than 160 branches across Moldova, North Macedonia, Albania and also Africa we can offer flexible financial products, from credit lines to instalment loans, with a focus on providing access to substantial amounts of money in the most convenient way at affordable rates.