Tagged: latvia

Eleving Group Is Reporting “Record-High” Financial Results for 9M 2021

Eleving Group (previously doing business as Mogo Finance) has shared its unaudited results for the nine months of 2021, “conclusively determining the company’s course to the best financial year in its history.” As mentioned in a blog post published by the Mintos team, the group’s… Read More

Latvia’s ExpressCredit Group Secures New Consumer Loan Funding from a US Investor

ExpressCredit Group (ExpressCredit), a lending firm, has acquired $9 million (appr. €7.74 million) in new funding for specialty finance operations in Botswana. As mentioned in an update, this allows the firm to diversify its financial resources and “partially refinance its existing credit facilities funded by… Read More

Lithuania’s Financing Platform, Debitum, Will No Longer Offer Cubefunder Loans via their Platform

At the beginning of October 2021, Debitum, a Lithuania-based financing platform, had reportedly asked Cubefunder to repay all the invested amounts and earned interest to their investors. On October 8, 2021, all final payments “were made,” the Debitum team confirmed in a blog post. Therefore,… Read More

DelfinGroup, a Non-Bank Consumer Lender in Latvia, Launches its IPO on Nasdaq Riga Stock Exchange

DelfinGroup launched its initial public offering (IPO) of 8 395 000 new shares on the Nasdaq Riga stock exchange this past Tuesday (September 28, 2021), and the public offer prospectus has been released. DelfinGroup’s management noted that the offering is currently available to retail investors… Read More

Legal Entity of Debitum, a European Investment Platform, Receives Brokerage License from Latvia’s Financial and Capital Market Commission

The team at Lithuania-based Debitum, a borderless financing platform, says it’s proud to release asset-backed securities and enter the “regulated financial market.” As mentioned in a blog post by Debitum, dated September 23, 2021,  the company will now be able to continue the journey to… Read More

Latvia based Fintech Jeff App Finalizes $1.5M Seed Extension Led by J12 Ventures

Jeff App, the Latvian Fintech company offering a data-powered loan brokerage platform for unbanked or financially underserved consumers in Asia, has finalized a $1.5 million seed extension round, which was led by J12 Ventures. Jeff App has now secured a total of $2.5 million. Other… Read More

Over €7B in Loans Now Funded via European P2P Lender Mintos

European P2P lender Mintos reveals that it has reached another key milestone with EUR 7 billion of loans now funded via its platform. The Mintos team writes in a blog post, dated September 6, 2021, that it’s been a year of milestones for them, and… Read More

TWINO Updates on Approval of Investment Brokerage License, Plans New Investment Products in Coming Months

As was previously reported, TWINO, a peer to peer lending marketplace for consumer loans, has been approved by the Latvian Financial and Capital Market Commission (FCMC) to operate as an Investment Brokerage. TWINO has now shared some additional information as to how it will operate… Read More

Loan Marketplace Mintos Receives Multiple New Financial Licenses

European loan marketplace Mintos has secured investment firm and electronic money institution licenses from the Latvian regulator Financial and Capital Market Commission (FCMC). Investors on Mintos have funded close to €7 billion in loans which are issued by more than 90 alternative lending companies to… Read More

Lending Marketplace TWINO Reports Profit, Preps for Investment Brokerage License

TWINO, an online lending marketplace based in Latvia, is reporting a record profit of €7.4 million on revenue of €61.6 million. The profit was an increase of 28% versus the year prior while top-line revenue increased by 30% year over year. Anastasija Oļeiņika, CEO of… Read More

Latvia based P2P Lender Sun Finance Exceeds €1B in Loans Issued with €95M Net Portfolio

Latvia-based P2P lending platform Sun Finance has exceeded the €1 billion (appr £851.7 million) milestone in the total loans provided. The company reveals that it’s on track to end 2021 with €200 million in earnings. Established in January 2017, the Sun Finance platform has managed… Read More

EstateGuru Reports 80 Loans Financed in June 2021 with a Total of €15.3M Being Funded

The team at EstateGuru, an online lending platform that offers retail investors the ability to back loans secured by property, notes that even though we’re in the middle of really hot summer days and the start of the holiday season, the platform has still seen… Read More

AS DelfinGroup Issues Bonds via Private Placement, Proceeds from Issuance will Refinance Liabilities by Repurchasing Loans on Mintos

On July 9 2021, Latvian financial service firm AS DelfinGroup issued bonds through private placement in the “amount of €5 million with an annual coupon rate of 9.75%.” The nominal value of a bond is €1 000, and the “minimum subscription size was €100 000,”… Read More

European Online Lending Platform EstateGuru Shares Externally Audited Report for 2020

The team at EstateGuru, an online lending platform that offers retail investors the ability to back loans secured by property, notes that as is customary, and as part of their commitment to transparency, they’ve published an “externally audited” annual report for 2020. EstateGuru‘s management writes in… Read More

Estonia’s Bigbank Chooses Nets for Offering Virtual Cards and Mobile Payments Capabilities

Bigbank, a global Estonian-owned bank providing personalized financial products, has selected European payment services firm Nets, to offer issuer processing and digital services, such as virtual cards and mobile payment capabilities. As noted by its management: “We’re a new type of bank – a truly… Read More

Online Lender EstateGuru Reports that Estonia and Germany were its Most Active Markets in May 2021

The team at Estateguru, an online lending platform that offers retail investors the ability to back loans secured by property, reveals that it financed €16.8M worth of loans last month. As mentioned in EstateGuru‘s loan portfolio overview report, the most active markets were Estonia and… Read More

EstateGuru Board Member Gabriella Kindert Shares Why She Became Interested in Debt Markets

Gabriella Kindert, who is considered an expert in private debt markets and has reportedly managed billions (currently serving as a Board member at EstateGuru), says that she encourages investors to check out different lending platforms. In a recent interview, Kindert talked about  how they should… Read More

Latvia’s Open Banking Fintech Nordigen Acquires an Additional €2.1M, Completes 1,000+ Bank Integrations

roThe team at Nordigen notes that it’s just been half a year since they announced Europe’s first “free” Open Banking API, however, they’ve already managed to introduce 1,000 bank integrations and acquire an additional €2.1 million. The Latvia-based Nordigen team writes in a blog post… Read More

Fintech Adoption: Israel and Latvia Now Home to High-Potential Fintechs and Early-Stage Startups

During the past year, Latvia and Israel have experienced a significant surge in Fintech interest, according to a recent analysis published by the Fintech News Network. Google Trends data for the period between April 2020 and April 2021 reveals that online search queries for Fintech… Read More

Andres Luts from EstateGuru Explains how P2P Lender Conducts Enforcement Proceedings when Borrowers Default

Andres Luts, Chief Credit Officer at EstateGuru, an online lending platform that offers retail investors the ability to back loans secured by property, is responsible for managing the platform’s credit policy across several different European nations. Luis recently talked about EstateGuru’s enforcement proceedings that are… Read More

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