Eleving Group first-quarter 2026 revenue grows by 32.8% to EUR 77.8 million

Eleving Group, an international financial technology company listed on the Frankfurt and Riga stock exchanges, reports revenue of EUR 77.8 million in the first quarter of 2026, representing a 32.8% increase on the corresponding period a year ago. Meanwhile, the company’s first-quarter net profit  amounted to EUR 5.9 million.

“This year, we have set ambitious targets, aiming for at least 20% growth across all the key financial indicators. In the first quarter of 2025, we issued just over EUR 96 million in loans, while in the first quarter of 2026 the volume of loans issued has already reached EUR 136 million, representing an increase of 41.8% year-on-year. The results from the first months of the year confirm that we are on track with our plan,” says Modestas Sudnius, Eleving Group CEO, assessing the first-quarter performance.

Eleving Group maintained a steady revenue stream across all the key product segments. Of the total first-quarter revenue, traditional vehicle financing products accounted for EUR 19.6 million, flexible vehicle financing products for EUR 18.3 million, smartphone financing for EUR 9.0 million, and consumer lending—EUR 30.9 million.

“We are pleased with our performance across both African and European markets. In Africa, smartphone financing, introduced last year, continued to gain momentum in the first quarter of 2026, with the financed smartphone portfolio reaching EUR 16.5 million by the end of March. Motorcycle financing also remained strong, particularly in Kenya. Meanwhile, in Europe, consumer lending, which we have rolled out alongside vehicle financing in five markets, was one of the key drivers of growth. Overall, our product diversification strategy is delivering strong results, and we are satisfied with the progress,” said Sudnius.

Eleving Group’s net loan portfolio at the end of the first quarter of 2026 amounted to EUR 477.8 million, which is 7.1% higher compared to the year end of 2025.

About Eleving Group

Eleving Group is a publicly listed international financial technology company founded in 2012. Today, the group operates in 17 countries across three continents, providing vehicle, smartphone and consumer financing services. Since its founding, Eleving Group has served more than 2.0 million registered users. The group employs 4,438 people across its operations. The company’s headquarters are located in Riga, Latvia. 

Since October 16, 2024, the Eleving Group shares have been listed on both the Nasdaq Baltic Official List and the Frankfurt Stock Exchange Prime Standard.