Mogo Finance

Mogo Finance is the consumer-financing brand of Eleving Group, an international financial technology company that is domiciled in Luxembourg and headquartered in the Baltics. The group describes itself as financing customer needs worldwide, operating in 18 markets across three continents with more than 816,000 active customers and a net loan portfolio of EUR 522.2 million as of the first half of 2026. Its product portfolio is built around three pillars: vehicle financing (cars and motorcycles), smartphone financing, and consumer loans. The Mogo brand is best known for vehicle financing, particularly motorcycles and three-wheelers in East Africa, where such vehicles are income-generating assets for taxi, delivery and other mobility services. The group reports having financed more than 377,000 motorcycles and three-wheelers, over 327,000 cars and more than 704,000 smartphones since inception, with total loans issued exceeding EUR 2.7 billion. Car financing is offered in 11 markets including Armenia, Estonia, Georgia, Kenya, Latvia, Lithuania, Moldova, Romania, Tanzania, Uganda and Uzbekistan, while motorcycle financing operates in Kenya, Uganda and Tanzania, and smartphone financing in Kenya, Tanzania and Uganda. Beyond vehicles and devices, Mogo and its sister brands provide consumer financing for household appliances such as televisions and washing machines, as well as working capital, inventory and equipment financing for micro-entrepreneurs. In Africa, the group also finances civil servants, including teachers, healthcare professionals and municipal employees, with repayments deducted directly from salaries. The group frames this activity as expanding access to finance for better lives, supporting income generation, employment and digital inclusion. Eleving Group has been listed since October 2024, with shares on the Nasdaq Baltic Official List and the Frankfurt Stock Exchange Prime Standard. It also raises capital through bond issuances and the investment platform Mintos. The company reports having paid more than EUR 24 million in dividends to shareholders since its IPO and more than EUR 150 million in interest to bondholders, with a dividend payout target of 50% and a B rating from Fitch Ratings with a positive outlook. It employs around 4,600 people of more than 25 nationalities. Governance is led by a supervisory board chaired by Mārcis Grīnis and a management board headed by Chief Executive Officer Modestas Sudnius and Chief Financial Officer Māris Kreics, supported by regional and functional leaders across Europe, Africa and Asia. The Mogo Finance brand thus sits within a broader multi-brand, multi-market fintech group that combines vehicle, device and consumer lending with public-market funding.

Mogo Finance traces its origins to the Baltic region, where it built a vehicle-backed lending business before expanding into emerging markets in Eastern Europe, the Caucasus, Central Asia and Africa. The brand became part of Eleving Group, an international financial technology company that is domiciled in Luxembourg and headquartered in the Baltics. Over time the group broadened its product range from car and motorcycle financing into smartphone financing and general consumer loans, and it now operates in 18 markets across three continents. A major turning point came in October 2024, when Eleving Group listed its shares on the Nasdaq Baltic Official List and the Frankfurt Stock Exchange Prime Standard. The listing gave the group access to public equity capital alongside its existing bond issuances and funding through the investment platform Mintos. Since the IPO the group reports having paid more than EUR 24 million in dividends to shareholders and more than EUR 150 million in interest to bondholders, with a stated dividend payout target of 50% and a B rating from Fitch Ratings with a positive outlook. Operationally, the group has financed more than 377,000 motorcycles and three-wheelers, over 327,000 cars and more than 704,000 smartphones since inception, issuing total loans of more than EUR 2.7 billion. Its car financing business covers 11 markets, motorcycle financing covers Kenya, Uganda and Tanzania, and smartphone financing covers Kenya, Tanzania and Uganda. Consumer financing supports household appliance purchases and micro-entrepreneur working capital, and in Africa the group also lends to civil servants with repayments deducted from salaries. The group has emphasized social impact, reporting that 704,000+ customers in Africa gained access to digital services and 377,000+ customers gained income opportunities by owning a boda-boda motorcycle. It also promotes electric and hybrid vehicle financing to support more sustainable mobility. As of the first half of 2026 the net loan portfolio stood at EUR 522.2 million, with vehicle financing at EUR 270.9 million, consumer financing at EUR 225.8 million and device financing at EUR 25.6 million. The company employs around 4,600 people of more than 25 nationalities.

• Eleving Group shares listed on the Nasdaq Baltic Official List and the Frankfurt Stock Exchange Prime Standard

• Net loan portfolio reaches EUR 522.2 million as of H1 2026

• Total loans issued since inception exceed EUR 2.7 billion

• More than 377,000 motorcycles and three-wheelers financed since inception

• More than 327,000 cars financed since inception

• More than 704,000 smartphones financed since inception

Access to finance for better lives — expanding mobility, digital access and income opportunities through vehicle, device and consumer financing in emerging and frontier markets.

• Car financing

  Financing for cars in 11 markets including Armenia, Estonia, Georgia, Kenya, Latvia, Lithuania, Moldova, Romania, Tanzania, Uganda and Uzbekistan.

• Motorcycle and three-wheeler financing

  Financing for motorcycles and three-wheelers in Kenya, Uganda and Tanzania, often used as income-generating assets for taxi and delivery services.

• Smartphone financing

  Financing for smartphones in Kenya, Tanzania and Uganda, supporting digital and economic inclusion.

• Consumer financing

  Financing for household appliances such as TVs and washing machines, micro-entrepreneur working capital, and civil servant salary-deducted loans in Africa.

1. 1Home — Eleving Groupeleving.com
2. 2Products and markets — Eleving Groupeleving.com
3. 3Governance — Eleving Groupeleving.com
4. 4Sustainability — Eleving Groupeleving.com
5. 5Mogo Finance — Wikidatawikidata.org