Sun Finance

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Sun Finance Group
TypePrivate
IndustryFinancial Technology
FounderToms Jurjevs
Emils Latkovskis
Headquarters
Riga
,
Latvia
Area served
Latvia, Sweden, Denmark, Poland, Vietnam, Kazakhstan, Mexico
Key people
Toms Jurjevs, Founder and CEO
Emils Latkovskis, Co-founder and COO

Sun Finance Group is a Latvian financial technology company known for[clarification needed] operating an online and mobile lending platform in seven countries.[1] The company was founded by Toms Jurjevs and Emils Latkovskis.[1] It is headquartered in Riga, Latvia.[1]

History[]

Jurjevs and Latkovskis founded the company in Riga in 2017.[2] Prior to founding Sun Finance Group, Jurjevs was CEO of non-bank creditor company 4finance.[3][4][5] His co-founder Emils Latkovskis was a former footballer,[6] CEO of the Latvian Higher League, and a board member of the Latvian Football Federation[7][8] and UEFA Futsal and Beach Soccer committee member.[9][10][11][12]

In 2019, Sun Finance Group unified all of its loan originators under the Sun Finance brand.[13] In February 2021, Sun Finance Group received a certificate from the World Wide Fund for Nature’s Green Office program, which acknowledged their environment friendly practices.[14][15] In 2021, Sun Finance was ranked second in Financial Times’ FT 1000 list of fastest-growing European companies,[16][17] with a CAGR of 752%.[18][19]

The company was the first Latvian organization to be ranked in the list’s top 50[20] and the highest-ranked company from the Baltic states in the list’s history.[21]

In Kazakhstan, Sun Finance sponsored youth football tournaments for the Auyl Football project in May 2021.[22] In July 2021, Sun Finance passed the €1 billion milestone in loans issued.[23][24] On October 14, 2021, the company began trading bonds on the Nasdaq First North market of the Baltic stock exchanges.[25]

Operations[]

Sun Finance Group operates in the countries of Sweden, Denmark, Poland, Latvia, Vietnam, Kazakhstan, and Mexico.[26] The company provides services such as short-term loans,[27][28] line of credit, and installments. Sun Finance uses data processing models that consider up to 10,000 data points to assess client risk.[29] Sun Finance also uses Hello Soda’s technology for customer identity verification.[30]

Financing[]

Sun Finance Group pulls its financing from sources such as bonds issued on NASDAQ and the Mintos peer-to-peer platform.[13][26] The company issued its first bonds in 2019 while had its second bond issuance in October 2020.[26][31]

References[]

  1. ^ a b c "Latvian fintech company named among Europe's fastest-growing". eng.lsm.lv. Retrieved 2021-06-03.
  2. ^ "Sun Finance kopējais aizdevumu apjoms sasniedz miljardu eiro". Dienas Bizness (in Latvian). Retrieved 2021-11-14.
  3. ^ "«4finance» bijušais vadītājs Toms Jurjevs dibinājis finanšu tehnoloģiju uzņēmumu «Fintech»". TVNET (in Latvian). 2017-10-06. Retrieved 2021-06-03.
  4. ^ "Fintech multimākslinieks". forbesbaltics.com. Retrieved 2021-06-03.
  5. ^ "Meet Europe's fastest growing fintech (it's not who you think) | Sifted". sifted.eu. Retrieved 2021-11-14.
  6. ^ "Latkovska vārti nodrošina dueli pret Kļaviņu, "Skonto" iesit 17". Sportacentrs.com (in Latvian). 2016-07-04. Retrieved 2021-06-03.
  7. ^ "Emīls Latkovskis". www.diena.lv. Retrieved 2021-06-03.
  8. ^ "1.līga: RFS zaudē punktus pret "Ogri", spēlē arī E.Latkovskis". Sportacentrs.com (in Latvian). 2014-09-21. Retrieved 2021-06-03.
  9. ^ Lācis, Uldis Strautmanis; Reinis (2020-07-03). "Ļašenko kļūst par Latvijas Futbola federācijas prezidentu". delfi.lv (in Latvian). Retrieved 2021-06-03.
  10. ^ "Match-Fixing and Money Laundering: The Bitter Demise of Latvian Soccer". www.vice.com. Retrieved 2021-06-03.
  11. ^ "Vadims Lasenko elected president of Latvian Football Federation | News | LETA". www.leta.lv. Retrieved 2021-06-03.
  12. ^ "Composition of the UEFA Organs and Bodies Mandate 2019-2023" (PDF). 2019-10-02.{{cite web}}: CS1 maint: url-status (link)
  13. ^ a b "Sun Finance unifies its loan originators under one group". Mintos Blog. 2019-11-22. Retrieved 2021-06-03.
  14. ^ Kelly, Maxine (2021-03-02). "FT 1000: the fifth annual list of Europe's fastest-growing companies". www.ft.com. Retrieved 2021-06-03.
  15. ^ "Labs of Latvia". labsoflatvia.com (in Latvian). Retrieved 2021-06-03.
  16. ^ "Bunq, Scalable Capital, CrowdProperty and LendInvest among FT's fastest-growing European companies in 2021". AltFi. Retrieved 2021-06-03.
  17. ^ Welch, Faye (2021-03-03). "Swapfiets is among the ten fastest growing European FT companies". Commentary Box Sports. Retrieved 2021-06-03.
  18. ^ "Two Czech Firms Make FT List Of Fastest Growing Companies". Prague Business Journal. 2021-03-02. Retrieved 2021-06-03.
  19. ^ Taylor, Charlie. "Three Irish businesses make list of fastest growing companies in Europe". The Irish Times. Retrieved 2021-06-03.
  20. ^ "Latvijas uzņēmumam pirmo reizi vēsturē izdodas iekļūt "Financial Times" reitinga augšgalā". Jauns.lv (in Latvian). Retrieved 2021-06-03.
  21. ^ "Latvia represented at the very top of the Financial Times fastest growing European companies rating". neatkariga.com. Retrieved 2021-06-03.
  22. ^ "Представители Sun Finance выделили 5 млн тенге на развитие проекта "Ауыл Футбол"". almaty.tv (in Russian). 2021-05-25. Retrieved 2021-11-14.
  23. ^ Lloyd, Michael. "Latvian P2P platform passes €1bn lending milestone | Peer2Peer Finance News". Retrieved 2021-11-14.
  24. ^ "Latvian online lender Sun Finance smashes €1bn loan target". AltFi. Retrieved 2021-11-14.
  25. ^ "Börsil algas kauplemine järjekordse Läti finantsettevõtte võlakirjadega". Investor (in Estonian). 2021-10-14. Retrieved 2021-11-14.
  26. ^ a b c "Sun Finance Group records more than EUR 100 million of turnover in 2019". neatkariga.com. Retrieved 2021-06-03.
  27. ^ Sun Finance expands and offers new investment opportunities in Vietnam on Mintos
  28. ^ Should You Trust The Mintos Lender Ratings?
  29. ^ "Sun Finance grupa trīs gados uzsāk darbu trīs kontinentos". Dienas Bizness (in Latvian). Retrieved 2021-06-03.
  30. ^ Begum, Shelina (2020-06-05). "Manchester tech firm launches new 'game changing' platform". Business Live. Retrieved 2021-11-14.
  31. ^ Signet Bank successfully completes the subscription for the bonds of Sun Finance Group by the Baltic Times


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