Within the existing business development strategy framework AS “mogo” has concluded previously scheduled leasing portfolio sale with a nominal amount of 3.54 million euros. Payments from the transaction are planned to be received by AS “mogo” until 31 August 2022.

Chairman of the Board of AS “mogo” Krišjānis Znotiņš: “During 2021 we have executed 2 similar transactions where AS “mogo” commenced leasing portfolio sales to a licensed local bank’s subsidiary.  Transactions have proved to be solid business case for both parties, so it was decided to execute one more portfolio sale transaction.”

About AS “mogo”

AS “mogo” is a part of the international financial technology company Eleving Group (former Mogo Finance). Mogo in Latvia offers leasing, leaseback, 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 9 thousand customers, managing a product portfolio of 37 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.

With its headquarters in Latvia, the Group operates in the Baltics, Central, Eastern, and South-Eastern Europe, Caucasus, Central Asia, and Eastern Africa.

Read more: www.eleving.com

Neringa Plauskiene

Eleving Group

Regional Chief Financial Officer

Phone: +371 66900904

Email: neringa.plauskiene@eleving.com