AS Sun Finance Group has acquired a majority stake in AS Zenka Group, an online lending company operating in Kenya.
As part of Sun Finance, Zenka will continue cooperating with Mintos by offering investors a chance to invest in loans issued in the Kenyan market. The funding gained will be used to develop Zenka’s financial solutions further and grow its market share in Kenya.
“The acquisition of Zenka marks an important milestone for Sun Finance since it has allowed the company to expand its geographical footprint across a new continent. The acquired company has been smoothly and seamlessly incorporated into the Sun Finance operational structure as a separate hub and, from now on, it will operate as an integral part of Sun Finance,”
Zenka, founded in 2018, is one of Kenya’s licensed lending companies. Zenka brands itself around delivering innovative and flexible financial solutions and meeting the diverse needs of its customers. As part of the acquisition, Sun Finance will maintain the Zenka brand name in the local market.
Please note that Mintos investors are not impacted. Sun Finance and Zenka Notes will not change in any way. We will further update investors next week.
About Sun Finance Group
Sun Finance has brands listed on the Mintos platform operating in Latvia, Poland, Denmark, Kazakhstan, Mexico, and Vietnam. As of 2019, all company loan originators’ loans are listed under the Sun Finance brand. The company uses the latest technologies to ensure instant consumer identification and scoring. Sun Finance is continuously growing in its core markets as well as considering strategic opportunities in entering new markets.
Some equity investors of Sun Finance and Mintos overlap.
