Eleving Group has shared the following operational and financial update:
Eleving Group continues to reduce its portfolio exposure in Belarus. The portfolio has substantially decreased during last year and continues to further amortize.
The impact of the portfolio reduction has been minimal on the Group’s financials. In 2022 the company successfully diversified its portfolio across other markets, reducing the weight of a single market on the overall business success. There are no changes in the performance of loan portfolios from other Eleving Group markets on the platform.
This week Eleving Group has repaid all outstanding Belarus investments and accrued interest in the amount of €1.45 million to investors on Mintos ahead of schedule, which shows that the Group’s guarantee has been honored. The funds have already been disbursed to investors. The repurchase was covered from previously accumulated funds, and these costs have no negative impact on the Group’s balance sheet.
About Eleving
Eleving Group was founded in 2012 in Latvia and joined the Mintos marketplace in 2015, originally offering loans for investment from Latvia. Since then, it has placed loans on the marketplace from 15 countries in the Baltics and Central, Eastern, and South-Eastern Europe. Operating regions also include the Caucasus and Central Asia, as well as Eastern Africa. To date, the company has issued over €1.2 billion in loans and has a net loan portfolio of over €288 million in 3Q2022.
Some of the equity investors of Eleving Group and Mintos overlap.
