Within the existing business development strategy framework, AS “mogo” has concluded a previously scheduled leasing portfolio sale with a nominal amount of 1.96 million euros. Transaction will be profit-generating for AS “mogo.”

Chairman 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 a solid business case for both parties, so it was decided to execute the next portfolio sale transaction. The transaction is cost–effective and significantly advances the capitalization of the Company, same time strengthening the 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, leaseback, and car rental services in the most convenient way for customers - online, by phone, and with more than 220 partners. Mogo in Latvia serves more than 10 thousand customers, managing a product portfolio of 39 million euros.

About Eleving Group

Eleving Group comprises several international and fast-growing financial technology companies with a global presence. The Group operates in the vehicle and consumer finance segments on three continents, providing financial inclusion and disruptively changing financial services industries in its countries of operation. Founded in 2012 in Latvia and expanded across the Baltics within its first year in business, the Group continued expansion in the following years, servicing 12 active markets as of 2022.

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