Eleving Group issues EUR 134.4 million worth of loans in the first quarter of 2026

Eleving Group, an international financial technology company listed on the Frankfurt and Riga stock exchanges, issued loans totaling EUR 134.41 million in the first quarter of this year, which is an increase of 40% compared to the corresponding period a year earlier, according to the company’s operational data.

“Overall, we are satisfied with the first-quarter results. We observed both a strong demand for our products and solid performance across all our sales channels. A positive contribution also came from the new products introduced last year—installment loans in European markets and smartphone financing in Africa,” said Eleving Group CEO Modestas Sudnius.

In the first three months of this year, Eleving Group served more than 140 thousand new customers in 17 countries, financing the purchase of vehicles and smartphones, as well as issuing consumer loans. Compared to the corresponding period a year earlier, the number of new customers during this period increased 3.2 times. The total number of Eleving Group’s active customers now exceeds 700 thousand.

“In the majority of our markets, we observed steady growth in the lending volumes in the first quarter of this year. Latvia, Romania, Kenya, and Albania, where we have been operating for years, delivered particularly strong results. At the same time, in Tanzania, where we launched operations at the end of last year, the first-quarter results show a rapidly growing demand. Moreover, in this market, in addition to motorcycle financing, we also launched smartphone financing in April this year, expanding our product offering,” added Sudnius.

The total number of loan applications received in the first quarter of 2026 reached 990 thousand. This is a 98% increase on the corresponding period of 2025, when the total number of applications stood at 499 thousand. The nearly double increase in loan applications attests to both—the efficiency of Eleving Group’s sales channels and the strong interest in smartphone financing in African countries.