Eleving Group has appointed a supervisory board as it continues the process of evaluating a potential IPO. The functions of the Supervisory Board will henceforth be executed by Lev Dolgatsjov, Derek Urben, and Marcis Grinis. 

The seven-year loan will be made available for the Group’s subsidiary, Mogo Auto Limited (Mogo Kenya), to expand its electric vehicle financing portfolio and increase sustainable mobility alternatives for self-employed and SMEs in Kenya.

Eleving Group closed 2023 with the best-ever business performance. Revenues, including fee and commission income, for the corresponding period reached EUR 189.3 mln, recording an increase of EUR 13.7 mln, compared to 2022. Meanwhile, the net portfolio grew by EUR 27.3 mln and landed at EUR 320.3 mln. 

Eleving Group has mandated LHV Pank (Estonia) to act as the Lead Arranger for a potential initial public offering (IPO).