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Latvian fintech claims billion-euro loan landmark

Sun Finance, a fintech Group from Latvia, said July 28 it had issued more than €1 billion in total loans since its inception in early 2017.

In 2017, Sun Finance disbursed €35m in loans, but in 2020, that had increased to €300m during the year despite the challenges presented by the COVID-19 outbreak. The Group continued its growth in the first half of 2021, issuing €220m worth of loans and reaching €1bn milestone of total loans issued in July, according to its own figures.

Toms Jurjevs, Sun Finance’s founder and CEO said: “We are very pleased with the achieved results and grateful to our 6 million clients across the globe for putting their trust in our services.”

In 2020 the company’s consolidated revenue stood at €120m according to the recently published annual report—an increase of 20% compared with 2019, in which the Group’s revenue reached €100m. Based on the first half unaudited results, the company estimates that it will end 2021 with revenues exceeding €200m.

In March, the prestigious UK newspaper The Financial Times named Sun Finance as the second-fastest-growing company in Europe, as previously reported by LSM.

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