As part of Eleving Group’s growth strategy for the year, it has chosen to exit the car loan market in Albania and has therefore sold Mogo Albania to a local investor. 

Now that Mogo Albania has been sold, the group will stop placing new car loans issued in Albania on the Mintos marketplace. For investors on Mintos with existing car loans with Mogo Albania, the full repurchasing of these has been finalized. 

In 2021, Eleving Group is reassessing its priorities and wants to focus on markets with further growth potential. It will continue to increase the supply of its loans on Mintos, offering investment opportunities across multiple other countries and regions. 

About Eleving Group

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 14 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 €650 million in loans and has a net loan portfolio of over €200 million as of the end of 2020.

Some of the equity investors of Eleving Group and Mintos overlap.