A Way Way Up
Experienced fintech empowering upward social mobility in diverse communities around the world with innovative and sustainable financial solutions
Group's profile
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, with Kredo and Tigo as the segment’s flagship brands. Currently, 57% of the group's portfolio is located in Europe, 30% in Africa, and 13% in the rest of the world.
The Group's historical customer base exceeds 660,000 customers worldwide, while the total volume of loans issued goes beyond EUR 1.8 billion. 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 2800 employees.
Key milestones
Eleving Group product lines
Global presence
LatviaShare of portfolio3.8% (10.4%*)*incl. PrimeroLithuaniaShare of portfolio8.8%EstoniaShare of portfolio3.3%RomaniaShare of portfolio10.9%MoldovaShare of portfolio5.1%MoldovaShare of portfolio5.2%AlbaniaShare of portfolio11.0%North MacedoniaShare of portfolio6.9%KenyaShare of portfolio14.1%UgandaShare of portfolio7.9%BotswanaShare of portfolio4.1%NamibiaShare of portfolio3.5%ZambiaShare of portfolio1.8%LesothoShare of portfolio0.5%GeorgiaShare of portfolio5.1%ArmeniaShare of portfolio4.5%UzbekistanShare of portfolio3.4%News
During the second quarter, Eleving Group delivered robust business performance, achieving EUR 43.7 mln in adjusted EBITDA and increasing its net profit to EUR 14.9 mln, or by 32% compared to a year ago.
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The Group's Director and Supervisory Board, on July 30, 2024, approved a new official dividend policy aiming to pay semi-annual dividends with a payout ratio of 30-50%.
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