Mogo Finance repeatedly listed on Financial Times ranking for Europe’s fastest growing companies

Mogo Finance Group second year in a row has been listed on Financial Times 1000 ranking of Europe’s fastest growing companies. Mogo Finance is one of the third of whole listed companies that has achieved to be included in the ranking repeatedly.

The rating is the result of a joint initiative by the Financial Times and Statista, that identifies outstanding companies among millions of European enterprises, ranking includes European companies that achieved the strongest annual growth rate in revenue between 2016 and 2019.  This is the fifth annual FT 1000 list of Europe’s fastest growing companies.

Mogo Finance Group CEO Modestas Sudnius: “We are proud to be repeatedly listed on Financial Times ranking and even more – to be announced as one of the rarities – by being listed in the ranking two years in a row. Mogo Finance Group`s development and growth are consistent and sustainable, which is reaffirmed also by financial results of 2020 – year of pandemic when Covid-19 brought the economy to a near standstill. Sustainability of Mogo business model and high operational transparency level is highly appreciated also by our international investors` community – Mogo issued bonds in the amount of EUR 30 million, thus, successfully completing the largest bond issue in recent years by a private company on Nasdaq Riga Stock Exchange.”

As reported, Mogo Finance in 2020 reached a record high revenue of EUR 99,2 million, which is 24% more than a year earlier, according to the company’s unaudited financial results. Mogo Finance Group’s EBITDA in 2020 was historically highest reaching EUR 45.8 million, which confirms the Group’s resilience in the pandemic caused global turbulence and creates a stable foundation for sustainable business development in 2021.

More about FT1000 Europe’s Fastest Growing Companies ranking: https://on.ft.com/3sDbQBW

Mogo Finance is international FinTech Group, that keeps car financing business as predominant, also utilizing consumer lending in selective markets. Recognizing the niche underserved by conventional financial institutions, Mogo Finance provides financial inclusion and disruptively changes the car and alternative financing industry across its countries. Up to date the Company has issued over EUR 650 million secured loans and running loan portfolio of EUR 202 million. Established in 2012, with headquarters in Riga, Latvia, Mogo Finance operates in 14 countries in Baltics and Europe with a strong focus on GDP-dynamic countries in Central, Eastern and South-Eastern Europe. Operating regions also include the Caucasus and Central Asia as well as Eastern Africa.