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.

Seen a mistake?

Select text and press Ctrl+Enter to send a suggested correction to the editor

Select text and press Report a mistake to send a suggested correction to the editor

Related articles
Most important

Please be aware that the LSM portal uses cookies. By continuing to use this site, you agree that we may store and use cookies on your device. Find out more

Accept and continue