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Eleving Group has issued loans of a billion euros

January 6, 2022

Eleving Group has achieved a milestone of the total amount of loans issued since inception reaching one billion euros. This has been accomplished by serving more than 500 000 customers in 14 markets on three continents and financing more than 300 000 vehicles.

“On our way to this milestone, we have evolved from a used car financing service to a platform that now offers customers a wide range of mobility and consumer credit service options – from owning a vehicle to developing mobility/transportation-based small businesses, from renting a vehicle to our latest service – vehicle subscription opportunity, from offering point of sale loans to credit line products. We feel strong as ever with support from our wide and loyal investor community and the team of more than 2 300 professionals; therefore, we believe this milestone is just the beginning to further achievements ahead of us. Our business development strategy gears us towards becoming an ultimate mobility platform, including tackling growing ESG topicality and integrating e-mobility trends into our product development,” comments Modestas Sudnius, the CEO of Eleving Group.

Interesting facts about Eleving Group’s performance:

  • The very first loan issued was used to finance a VW Golf (in 2012 in Latvia, where Eleving Group started its operations). And while in the first year of operation, the Group issued less than 200 vehicle loans per month, currently, it is financing more than 7 500 vehicles each month (more than 50 of those – electric/hybrid vehicles).
  • While the most popular vehicle brands financed by sub-brands of Eleving Group are Toyota, Volkswagen, and BMW, the Group each month issues loans for 80 various vehicle brands, and also rare and exclusive models can be found among the list, for example, Maserati Ghibli, BMW 2002 Turbo, and Ford Mustang (1974).
  • Eleving Group has processed around 5.7 million applications and approved approximately 1.7 million of those.
  • The most expensive vehicle financed by the Group is a EUR 105 000 worth Land Rover, and the number of most cars financed for a long-term returning customer is 12 (in Georgia).
  • Around 20% of Eleving Group clients are female, and 80% male, yet in some countries, like Estonia, the proportion differs – even 35% of the customers there are female.