Eleving Group has launched a new cashback campaign for Notes with underlying loans issued in either Albania (KREDO FINANCE SHPK), Kenya (Mogo Auto Limited), Moldova (Mogo Loans LTD and O.C.N. “Sebo Credit” SRL), North Macedonia (Financial Company TIGO FINANCE DOOEL Skopje), and Romania (Mogo I.F.N S.A).
For a limited time only, you can earn a cashback of:
- 1% for Notes with a remaining term of 12 months 0 days to 24 months 0 days
- 2% for Notes with a remaining term of 24 months 1 day to 36 months 0 days
- 3% for Notes with a remaining term of 36 months 1 day to 60 months 0 days
This offer is valid from 3 to 16 October 2022.
To qualify for the cashback bonus, you’ll need to enroll in the campaign and invest a minimum of €50 (cumulative) into qualifying Notes for Eleving Group.
As of today, there’s over €33 million worth of qualifying Notes available on Mintos with interest rates of 13 – 18%. The transaction documents for these Notes include an Eleving Group S.A. guarantee.
Only investments made on the Mintos Primary Market via manual investments or custom automated strategies qualify. When investing manually, you can find a full list of available Notes by filtering for Eleving Group then for either Albania, Kenya, Moldova, North Macedonia, or Romania. For custom automated strategies, you can search the legal entity names: KREDO FINANCE SHPK, Mogo Auto Limited, Mogo Loans LTD, O.C.N. “Sebo Credit” SRL, Financial Company TIGO FINANCE DOOEL Skopje, or Mogo I.F.N S.A.
Investments made before enrolling or made via Diversified, Conservative, or High-yield strategies are not eligible. The cashback will be credited to your Mintos account within 10 business days from the end of the cashback campaign. See full terms
The Eleving Group S.A. guarantee forms part of the transaction documents for all Notes that qualify as part of this cashback campaign. More information on the guarantee is provided in each respective base prospectus which are available in the Notes legal documents.
In the recent Minto Risk Score update, the Mintos Risk Scores for underlying loans from Mogo Albania, Mogo Moldova (Sebo) and Mogo North Macedonia were upgraded from 6 to 7. For underlying loans from Mogo Romania, the Mintos Risk Score was upgraded from 8 to 9, which is currently the highest Mintos Risk Score on the platform.1

And according to Fitch Ratings, on 7 July 2022, it affirmed the Eleving Group rating at ‘B-‘; Outlook Stable.
Please note that all qualifying Notes for Eleving Group are listed on Mintos in EUR. However, the original currency in which the underlying loans are issued differs.
- The original currency in which the underlying loans were issued for Mogo Albania Notes is the Albanian lek
- The original currency in which the underlying loans were issued for Mogo Kenya Notes is the Kenyan shilling
- The original currency in which the underlying loans were issued for Mogo Moldova Notes is the Moldovan leu
- The original currency in which the underlying loans were issued for Mogo North Macedonia Notes is the North Macedonian denar
- The original currency in which the underlying loans were issued for Mogo Romania Notes is the Romanian leu
At the time of the cashback launch, 70,6% of outstanding investments on Mintos are current for Mogo Albania (KREDO FINANCE SHPK), Kenya (Mogo Auto Limited), Moldova (Mogo Loans LTD and O.C.N. “Sebo Credit” SRL), North Macedonia (Financial Company TIGO FINANCE DOOEL Skopje), and Romania (Mogo I.F.N S.A).
For the last 7 months, the Eleving Group lending companies have had a strong payment discipline with no payments pending longer than the normal settlement period of 8 days. For changes in the pending payments status, see Loan statistics.
About Eleving Group
According to Eleving Group, “it has developed two distinct and self-sufficient business lines: vehicle finance and consumer finance. The group offers vehicle finance in the following markets — Latvia, Lithuania, Estonia, Georgia, Romania, Moldova, Armenia, Uganda, Kenya, and Uzbekistan, and consumer financing in Albania, Moldova, and North Macedonia. The vehicle finance segment in respective countries is represented by the Mogo brand, as well as Renti (Latvia, Lithuania), Renti Plus (Latvia), and the Primero brand (Latvia, Moldova). The consumer business line is represented by the Kredo brand in Albania, Tigo in North Macedonia, and Sebo in Moldova.”
Eleving Group states that “during H1 2022, it increased its adjusted EBITDA by 12,9%, reaching €32,3m compared to €28,6m the previous year, while adjusted net profit before FX stood at €9m compared to €8,6m in the respective period of 2021. Its adjusted revenue of six-month operations hit €90m, an increase of €21,4m compared to €68,6m in the respective period the previous year. Also, the company’s net portfolio shows stable growth, surpassing €275,8m, an increase of €63,5m compared to the respective reporting period a year ago.”
Some of the equity investors of Eleving Group and Mintos overlap.
1 Under no circumstances should the Mintos Risk Score be treated and relied upon as a credit rating in accordance with the methodology and provisions defined by the Regulation (EC) No 1060/2009 on credit rating agencies. The Mintos Risk Score is not investment advice and Mintos cannot be held liable for any losses which may result from basing investment decisions on information and/or analytical materials provided on this website