Group Eleving concluded the initial phase of 2025 with an earnings figure of 117.5 million Euros
Eleving Group, the international financial technology company, has announced a robust growth strategy and impressive financial results for the first half of 2025. The company, founded in 2012 and operating in 16 countries across three continents, has shown significant progress in its expansion and diversification efforts.
The company's adjusted EBITDA for the first half of 2025 stood at EUR 45.3 million, reflecting a strong financial performance. Eleving Group's headquarters are based in Riga, Latvia, and it serves over 1.4 million registered users, providing vehicle and consumer financing services.
Product Innovation and Diversification
Eleving Group's growth strategy focuses on expanding and diversifying products, as demonstrated by the launch of new installment loan products in vehicle finance across Latvia, Estonia, and Romania. The company is also scaling up smartphone financing in Uganda and piloting in Kenya, marking a broader diversification beyond traditional vehicle financing.
Geographic Expansion
The company plans to enter one to two new markets in 2025, with progress in establishing legal entities and licensing, aiming to issue loans before the end of the year.
Customer Retention
A new initiative was launched in Q2 2025 to increase customer loyalty, engagement, and lifetime value through targeted offers and enhanced experiences across all markets.
Revenue Growth
The company reported increases in revenue from vehicle financing (+5.2%), flexible and subscription-based products (+17.5%), and consumer lending (+11.9%) in the first half of 2025. This reflects the success of Eleving Group's multi-product growth strategy.
Refinancing Strategy
Eleving Group is evaluating refinancing EUR 150 million in bonds in H2 2025, leveraging favorable European high-yield bond market conditions to secure cost-effective financing for growth. New investors are also allowed to participate in the refinancing of Eleving Group's bonds, and existing bondholders have the option to exchange their bonds during the process.
Financial Highlights
In the first half of 2025, Eleving Group issued loans worth EUR 200.1 million to both existing and new customers, a 19.8% increase from the same period last year. The company ended the second quarter of 2025 with a loan portfolio of EUR 375.3 million, a 9.3% increase compared to the same period last year.
Eleving Group reported a revenue of EUR 117.5 million for the first half of 2025, a 10.8% increase from the same period last year. The company paid out EUR 14.8 million in dividends to its shareholders in June 2025, marking the first dividend payment since the company's IPO and listings on the Nasdaq Baltic Official List and the Frankfurt Stock Exchange Prime Standard in October 2024.
The company's net profit for the first half of 2025 reached EUR 15.2 million. Eleving Group employs over 3,292 people across its operations.
In conclusion, Eleving Group is pursuing a multi-pronged growth strategy based on product innovation and diversification, geographic expansion, strengthening customer relationships, and optimizing capital structure to support continued loan issuance and revenue growth internationally. The company is in discussions with institutional investors for potential refinancing of bonds maturing on October 18, 2026.
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