AS “mogo” concludes a loan portfolio transfer agreement
Within the existing business development strategy framework AS “mogo” has concluded previously scheduled leasing portfolio sale with a nominal amount of 2.24 million euros. As part of the transaction, AS “mogo” have received a total remuneration of 2.83 million euros.
Member of the Board of AS “mogo” Krišjānis Znotiņš: “Previous AS “mogo” leasing portfolio sales to a licensed local bank’s subsidiary have proved to be solid business case for both parties, so it was decided to execute one more portfolio sale transaction. The transaction is cost – effective and advances much the capitalization of the Company, same time strengthening Company’s portfolio servicing business line.”
About AS “mogo”
AS “mogo” is a part of the international financial technology company Eleving Group (former Mogo Finance). Mogo in Latvia offers leasing, leasback, and car rental services in the most convenient way for customers - online, by phone, and with more than 210 partners. Mogo in Latvia serves more than 12 thousand customers, managing a product portfolio of 38 million euros.
About Eleving Group
Eleving Group comprises a number of international and fast-growing financial technology companies with a global presence. The Group operates in the vehicle and consumer finance segments in 3 continents, providing financial inclusion and disruptively changing financial services industries in its countries of operation. Founded in 2012 as Mogo in Latvia, the Group has revolutionized the way people purchase cars. Having expanded all across the Baltics within its first year in business, the Group continued expansion in the following years, servicing a total of 14 active markets as of the end of 2020.
With its headquarters in Latvia, the Group operates in the Baltics, Central, Eastern, and South-Eastern Europe, Caucasus, Central Asia, and Eastern Africa.
For two consecutive years since 2020, the Group has appeared on the Financial Times list of Europe’s 1000 fastest growing companies.
Read more: www.eleving.com
Regional Chief Financial Officer
Phone: +371 66900904