As part of the agreement, JSC “Renti” has sold more than 100 vehicles from the “Renti plus” fleet as well as its active customer portfolio to “Transporent” Ltd (SIXT). With the closing of the deal, JSC “mogo” will continue to develop its financing services in the retail and SME segments, with a primary focus on streamlining existing products.

"The sale of the “Renti plus” business was a well-considered and strategic decision, which will enable the company to focus even more on the development of its financial services offer in both the retail and SME segments. We continue to believe that the car subscription service has great potential, and this is confirmed by our results to date. We have no doubt that SIXT's experience and long-term development vision will take this service to an even higher level, from which not only existing and potential customers will benefit, but also the market of car financing and related services as a whole," explains Krisjanis Znotins, Chairman of the Board of JSC “Renti”.

"Renti plus” was the first car subscription service introduced in Latvia. Over the course of its operations, more than 260 customers have used this particular car subscription service, with 12 months being the most popular subscription period. The most popular cars were the Nissan Qashqai and Hyundai Tucson.

About the company

JSC “Renti” is a part of “Eleving Group”, a global multi-brand group established in 2012 that operates in vehicle and consumer financing segments. As of now, the Group has 12 markets of operations across three continents. The company has a portfolio of over 500 000 clients worldwide, and the total volume of loans issued exceeds EUR 1.35 billion. The current active net loan portfolio exceeds EUR 290 mln. In 2020 and 2021, Financial Times ranked Eleving Group among the Top 1000 fastest-growing FinTech companies in Europe.

Neringa Plauskiene

Eleving Group

Regional Chief Financial Officer

Phone: +371 66900904

Email: neringa.plauskiene@eleving.com