Today, Creamfinance, a leading consumer finance provider and the fastest-growing European fintech, announced the closure of a €21 million deal in Series B financing with Capitec Bank Holdings Limited (“Capitec”). This round follows a €5 million in Series A investment from international venture capital fund Flint Capital. Capitec is listed on the South African stock exchange and is the parent company of Capitec Bank that played a major role in revolutionizing banking in South Africa. The funds will be used to accelerate the company’s international expansion and introduction of a full product portfolio in existing markets. Following…
AS “mogo” informs, that effective from 15 March 2017, there are changes in the Board of the Company. The current Chairman of the Board Aleksandrs Čerņagins is being replaced by Edgars Egle. Aleksandrs Čerņagins will remain Member of the Board of AS “mogo”.
About AS “mogo”
AS “mogo” offers classical finance lease and lends against vehicles already owned by clients (a type of service known as leaseback), which is available by filling out an application on the company website, mobile website, over the phone, enquiring with one of 320 affiliated car dealerships, or at one of its client service centers in…
How to invest in the Latvian Agriculture Credit Market
AgroCredit Latvia has been operating since 2011 as a non-bank lender that issues Latvian farmers loans secured with grain sale contracts. Our primary product offered is seasonal financing for current assets, which is repaid at the end of each farming season, after grain sales are completed. Fixed future grain delivery contracts serve as collateral for loans.
Our credit portfolio achieved close to EUR 7 million at the end of last season. Customers are local Latvian farmers, who operate their farms for a longer run and are known to AgroCredit and/or our partners.
AS “mogo” earns 3.0 million during the first twelve months of 2016.
CORRECTION: Unaudited financial statements 2016 have been added. The rest of the information is unchanged.
Turnover amounted to EUR 10.4 million (14% increase, compared to 2015), EBITDA reached EUR 6.0 million (71% increase, compared to 2015), net profit was EUR 3.0 million (196% increase, compared to 2015) and net profit margin was 28% (159% increase, compared to 2015).
As at 31 December 2016 gross value of the lease portfolio reached 27.0 million euro (1% decrease, compared to 31 December 2015).
Audited Statement of Profit or Loss and other Comprehensive Income*
AgroCredit Latvia publish unaudited annual accounts for 12 months, 2016.
In 2016 the company was continously growing, showing gradual and well balanced development trend. The share capital of the company was raised by 1/3rd and that allowed to acquire additional financial resources from outer investors and thus grow the credit portfolio. The total credit portfolio achieved nearly 6 mEUR by the end of the seeding season.
In the middle of 2016 the company emitted bonds and later in August started the quotation in Nasdaq Baltic stock exchange. It helped not only to raise additional funds for the business but helped to…
The Group’s operations during the period has been successful. In 2016 the new amendments to legislation came into force, which led to significantly lower interest rates on consumer loans. Consequently, in line with expectations, total revenues in the period fell by 13.2% against 2015 and reached 15 081 843 euro.
The Group’s strategy in year 2016 included the increase in loan portfolio and reduction of the cost base. According to the strategy, substantial investments were made in the Group’s “Banknote” product and brand awareness. During the period a new consumer credit brand “MoneyMetro” was developed and implemented in three branches of the Group….
In 2016 AS Capitalia group increased the total turnover to EUR 946 415, which is 65% higher than for the corresponding period of the previous year. Company reported small consolidated losses while the total assets grew to EUR 3 603 370.
Year 2016 in the development of Capitalia can be seen as growth focused period. We have successfully entered new geographic market – Estonia, as well as significantly improved our capacity in loan evaluation and servicing. During this period we have learned many interesting lessons with regards to organizational structure, lending policy and as well as client acquisition. I can…
According to SIA ExpressCredit bond issue prospectus ISIN LV0000801280, as of 27/02/2017 nominal value of one security is going to be decreased by EUR 50. Total nominal value of bonds issue will be decreased for EUR 250 000. After settlement nominal value of one security (ISIN LV0000801280) will be EUR 350.
According to bond issues prospectus ISIN LV0000801280, 5 000 bonds were issued with an original nominal value of 1 000 euros. Yearly interest rate of the coupon is 14% with a 5 year term and gradual repayment of the nominal value.
Capitalia has made additional issue of bonds and thus concluded emission of NASDAQ Baltic stock exchange listed bonds with the total value of EUR 3 million. As of now Capitalia has active bond issues for the amount of EUR 3.5 million. Newly attracted financing will allow Capitalia to increase financing to small and medium sized businesses in the Baltic States, as well as to develop new products.
“Investors have shown great interest to invest in our company not just because of attractive investment returns, but also because their financing would support and grow small businesses in the Baltic countries. Small…
On 19th January, 2017 SIA ExpressCredit has made a contribution in Bulgarian 100% subsidiary’s share capital in the amount of EUR 500 000. The subsidiary has been established to obtain authorization for lombard and consumer lending activities. The Company has not yet decided on a specific start-up time and volume.