Eleving Group reports 40.4% revenue growth in the first six months of 2026

Eleving Group, an international financial technology company listed on the Frankfurt and Riga stock exchanges, reported revenue of EUR 165.0 million for the first six months of 2026, representing a 40.4% increase compared to the corresponding period a year ago. Meanwhile, the company’s net profit for the reporting period amounted to EUR 16.5 million, up by 8.6% year-on-year.

“We are very pleased with our performance in the first six months of this year, having achieved growth across all the key business indicators. One of our priorities over the past 12 months has been to expand our product offering and strengthen our position in the existing markets. For example, we introduced instalment loan products across our European markets and successfully rolled out smartphone financing in three African markets, which we are now continuing to implement on a much broader scale. Thanks to the consistent execution of our strategy, we have already achieved our full-year portfolio growth targets within the first six months of this year,” said Modestas Sudnius, CEO of Eleving Group.

In the first six months of 2026, the revenue from vehicle financing products amounted to EUR 71.0 million, while the revenue from smartphone financing reached EUR 21.0 million, and consumer financing generated EUR 73.0 million. 

In July, Eleving Group continued its geographical expansion by commencing operations in South Africa, which became the group's 18th market. The company opened its first branch in Cape Town, offering consumer loans. In this market, Eleving Group plans to provide lending services both digitally and through its branch network, with additional branches set to open in other major cities around South Africa in the near future.

“In the second half of the year, we will gradually shift our focus from accelerating growth to fully capitalizing on the progress achieved so far. Our priority will be to further tailor the performance of our recently launched products and new markets, with a particular focus on improving unit economics and enhancing overall operational efficiency. As part of this process, we will continue implementing AI solutions across our business processes to increase automation and ensure the most efficient operating model possible,” said Modestas Sudnius, CEO of Eleving Group.

As part of our ongoing efforts to optimize the funding structure, Eleving Group will continue to monitor capital market conditions and, in the coming quarters, may assess the opportunity to refinance its outstanding EUR 90 million bond through the issuance of a new bond.

The group’s net loan portfolio reached EUR 522.2 million at the end of the reporting period, representing a 17.0% increase compared to the end of 2025. 

About Eleving Group 

Eleving Group is a publicly listed international financial technology company founded in 2012. Today, the group operates in 18 countries across three continents, providing vehicle, smartphone and consumer financing services. Since its founding, Eleving Group has served more than 2.2 million registered users. The group employs over 4600 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.