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Eleving Group’s product universe

Financing Services Mobility and inclusion

Financing 74%

Financing products include traditional lease, vehicle loans and leaseback products as well as consumer financing products that accounted for 74% of the Group’s total net portfolio as at June 2023.

Accessible financing through traditional online and offline consumer loan products.

Flexible premium car leasing for those interested in the highest quality vehicles.

Easily accessible and affordable mobility product for customers in underserved market segments.

Services 26%

Services products include flexible lease and subscription-based products that accounted for 26% of the Group’s total net portfolio as at June 2023.

A rent-to-buy product designed with ultimate flexibility in mind.

A solution to self-employed who use mobility as a source of income for providing for their families.

OX Drive offers Tesla based car-sharing experience in Riga region.

Eleving Group

Eleving Vehicle Finance specializes in finance lease, vehicle loans and leaseback arrangements. In a finance lease, customers can select a vehicle that Eleving Group purchases on their behalf. Throughout the lease period, lessees utilize the vehicle while making installment payments. On average, the vehicles are 12 to 18 years old. Upon repayment of the principal, the lessee assumes legal ownership. Conversely, under a leaseback contract, Eleving Group acquires a vehicle directly from the customer. Despite the transfer of ownership, the customer retains usage rights and continues making monthly installments. Upon full repayment, ownership reverts. These core products constitute 45.8% of Eleving Group’s total net loan portfolio.

In addition, Eleving Group offers flexible lease and subscription-based products, comprising 21.4% of the portfolio. In Lithuania, rent-to-buy solutions, granting customers the flexibility to return or exchange vehicles anytime, are offered. While, in Eastern Africa, the Group focuses on productive lending, targeting self-employed riders and SMEs with motorcycle and three-wheeler financing for passenger transport or deliveries. Since late 2023, an electric retrofitting product was introduced in Kenya, reinforcing the promotion of sustainable mobility by extending the life cycle of used ICE motorcycles.

Eleving Group also offers rent-to-buy solutions, motorcycle subscription services, and financing for higher-end vehicles. Notably, in 2022, the Group introduced OX Drive, an electric car-sharing service available in Riga and neighboring cities. This service caters to individuals seeking high-end and eco-friendly mobility solutions for short-distance travel needs.

Eleving Group

Eleving’s Consumer Finance business focuses on markets lacking financial inclusion and having communities underserved by conventional financial institutions. There is usually no “middle ground” between difficult-to-access bank finance and very limited, expensive short-term loans. Eleving Consumer Finance companies are often the only ones offering online and offline customer service experiences for diverse customer groups. With over 160 branches in Moldova, North Macedonia, Albania, Botswana, Namibia, Zambia, and Lesotho, Eleving Consumer Finance companies offer flexible financial products—from credit lines to installment loans, providing access to substantial funds to customers that meet the Group’s credit assessment benchmarks. This business line accounts for 32.8% of the total portfolio.

The key consumer financing product Eleving Consumer Finance offers is a long-term unsecured loan with regular fixed monthly payments. Interest rates differ based on the product, loan size, and term, with decreasing pricing for longer maturities. A customer may repay the outstanding loan balance in full at any time or make required minimum payments by the loan agreement terms.


Supporting Projects

Connecting customers with car dealers

In addition to its core business activities, Eleving Vehicle Finance has also developed proprietary car sales portals in various world regions. There are currently more than 10 000 cars listed on its portals across 10 markets in Europe, Asia and Africa.