Revo Technologies, a lending company on Mintos operating under the Mokka brand in Russia and CEE (Central and Eastern Europe), presents its 2020 results.

Key financial highlights of 2020

• Gross transaction revenue reached €24,7 million, up 36% from 2019.
• Profit before tax reached €3,6 million, which is 3,6 times higher than in 2019.
• Capital adequacy ratio (NMFK 1) is 21,2%, improved compared to 12% in 2019.
• Unique customer base reached 6,1 million users, up 61% from 3,7 million users in Q4 2019.
• Overall transaction volume of €66,5 million, declined by 21% from 2019.

Comments by the management of Revo

“Revo delivered strong growth and profitability in the 2020 financial year. Despite pandemic-related store closings, gross transaction revenue grew 36% year on year, supported by expansion of our network of merchant partners to more than 7 000 stores, with its customer base reaching 6,1 million in Q4 2020, an increase of 61% versus the prior year. Merchant online and in-app transactions demonstrated particularly strong performance through the Covid-19 pandemic period, which resulted in store closures and substantial traffic declines in partners’ physical stores.

The launch of a new Mokka virtual card with Google/Apple pay capabilities in Russia late in Q4 2020 was an important milestone to extend the reach of Mokka to a broader group of consumers and enable payment with Mokka at all physical and online retailers, where Visa is accepted.

A further milestone was the launch of Revo in Romania in December 2020 in both online and offline with key merchant partners. Romania became Revo’s third market to go live, in addition to Poland and Russia. We see strong merchant interest in Romania to adopt Revo’s omnichannel Buy Now Pay Later solutions.

While the early months of Covid had some impact on our portfolio risk metrics, Revo saw a strong bounce to pre-pandemic payment discipline in Q3 and Q4 and ended the year with strong profitability of €4.3 million, up 440% from 2019. As a result, we have substantially enhanced our credit profile in 2020 with the capital adequacy ratio exceeding 21%.

For 2021, our key objectives include investment in new large partner acquisitions across our three markets and continuing to grow our customer engagement through stronger promotion programs. Our pipeline is currently robust with a number of leading retailers soon to join the Mokka platform. In addition, with the roll out of the Mokka virtual card and Mokka mobile app across all markets, we expect our in-app business to fuel rapid expansion in 2021 as we drive app installation and activation.”

About Revo (Mokka)

Revo Technologies, a fintech company operating under the Revoplus and Mokka brands, specializes in Buy Now Pay Later services, offering consumers the opportunity to “buy now and pay later” for purchases in more than 6 500 online and offline stores.

The current outstanding Revo’s portfolio on Mintos is € 3 305 197. There are 51 455 investors with active investments in Revo loans with an average investment of € 64 per investor.