Mogo is the leading brand in the Eleving Group portfolio. Founded in Latvia in 2012, Mogo revolutionized the way people purchase used cars. Expanding to all the Baltic countries within a year of its launch in Latvia, Mogo grew in the following years, spreading to 11 markets by 2021. Mogo changed the used vehicle market everywhere it went, by providing accessible financing for people with, up till then, limited access to funds.
Mogo recently made a bold shift, focussing on productive lending in developing countries. Productive lending means primarily financing vehicles for customers as a means to earn a living, or alternatively, to increase their income from existing businesses. This is achieved mainly by financing motorcycle taxis (Boda-Boda) in Africa.
Eleving Vehicle Finance provides a variety of products and services through developing different brands. It fills a funding gap, providing innovative financial solutions across the globe, which contribute to the empowerment of diverse communities, including local entrepreneurs.