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Empower profitable growth

Invest in a global, fast-growing and profitable Fintech from the Baltics.

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Eleving Group at a glance
Growth
16countries
~2.0bLoans issued since inception
25%Net portfolio CAGR (2016-24)
>1.3mHistoric customer portfolio
10Brands
Financials
EUR 90.0mAdjusted EBITDA (12M 2024)
EUR 371.6mNet portfolio (12M 2024)
EUR 217.0mRevenue (12M 2024)
EUR 29.6mTotal net profit (12M 2024)
50%Target dividend payout ratio
Eleving Group at a glance

About

Eleving Group has driven innovation in financial technology around the world since its foundation in Latvia in 2012. As of today, the group operates in 16 markets and 3 continents, encouraging financial inclusion and upward social mobility in underserved communities around the globe. Eleving Group has developed a multi-brand portfolio for its vehicle and consumer finance business lines, with around 2/3 of the portfolio comprising secured vehicle loans and mobility products, with Mogo as the leading brand, and around 1/3 of the portfolio including unsecured consumer finance products. Currently, 53% of the group's portfolio is located in Europe, 34% in Africa, and 13% in the rest of the world. 

The Group's historical customer base exceeds 1.3 mln customers worldwide, while the total volume of loans issued is nearing EUR 2.0 bln. With headquarters in Latvia, Lithuania, and Estonia and a governance structure in Luxembourg, the Group ensures efficient and transparent business management, powered at the operational level by over 2790 employees. For two consecutive years, the Group was listed among Europe’s 1000 fastest-growing companies published by the Financial Times in 2020 and 2021, while in 2024, Eleving Group was ranked as the 41st fastest-growing European company in the last decade in 'Europe's Long-Term Growth Champions 2025' research by Financial Times and Statista.

Key milestones

Net portfolio, EUR mln
Number of markets
1
8
3
35
4
55
4
64
5
97
7
141
8
194
10
201
12
257
12
293
12
320
16
372
16
2012
LV
Mogo founded in Latvia
2013
LTEE
Entering to Estonia and Lithuania
2014
GE
Entering to Georgia
2015
Cooperation with Mintos
2016
RO
Entering to Romania
2017
AMMD
Entering to Armenia and Moldova
2018
UZ
Entering Uzbekistan
2019
KEUG
Entering to Kenya and Uganda

LV
Primero JV and Renti launched
2020
MDMKAL
Acquisition of business in Moldova, North Macedonia and Albania
2021
Mogo Finance becomes Eleving Group
2022
LV
OX Drive launched
2023
BWNAZMLS
Acquisition of business in Botswana, Namibia, Zambia and Lesotho
2024
Eleving Group IPO on the Nasdaq Riga Stock Exchange and the Frankfurt Stock Exchange

Eleving Group product lines

Vehicle loan products
Vehicle loan products
Flexible loans
Flexible loans
Subscription-based products
Subscription-based products
Consumer products
Consumer products

Global presence

34%Consumer finance
66%Vehicle finance
53%Continental Europe
34%Africa
13%Rest of the world
Continental Europe
Africa
Rest of the world
LatviaLatviaShare of portfolio3.2% (10.1%*)*incl. Primero
LithuaniaLithuaniaShare of portfolio7.9%
EstoniaEstoniaShare of portfolio3.3%
RomaniaRomaniaShare of portfolio12.0%
MoldovaMoldovaShare of portfolio4.9%
MoldovaMoldovaShare of portfolio4.9%
AlbaniaAlbaniaShare of portfolio10.8%
North MacedoniaNorth MacedoniaShare of portfolio6.1%
KenyaKenyaShare of portfolio12.9%
UgandaUgandaShare of portfolio8.3%
BotswanaBotswanaShare of portfolio4.8%
NamibiaNamibiaShare of portfolio4.2%
ZambiaZambiaShare of portfolio2.6%
LesothoLesothoShare of portfolio0.7%
GeorgiaGeorgiaShare of portfolio5.2%
ArmeniaArmeniaShare of portfolio4.6%
UzbekistanUzbekistanShare of portfolio3.3%

News

February 19, 2025
Eleving Group starts public bond offering by tapping its existing 2023/2028 Eurobonds with a yield of 10%

Eleving Group has launched a public offering by tapping its existing senior secured and guaranteed 2023/2028 Eurobonds with ISIN (DE000A3LL7M4) by up to EUR 50 mln. This issuance will bring the outstanding amount of the existing bonds, currently listed on the Nasdaq Riga and Frankfurt Stock Exchange, to a maximum of EUR 100 mln. Investors in Latvia, Estonia, Lithuania, and Germany can subscribe to the bonds through their custodian banks from February 19 until March 7.

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Eleving Group starts public bond offering by tapping its existing 2023/2028 Eurobonds with a yield of 10%
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