The fastest-growing fintech in Europe in 2021, Sun Finance Group, has announced its annual performance figures demonstrating sustained growth both in the EU and globally. The global platform loan volumes and revenue increased by 47% and 59%, respectively, while total revenue now amounts to almost EUR 200 million.
By the end of last year Sun Finance mobile and online lending platform had 6.8 million users, an almost twofold increase compared to the year before. In 2021 Sun Finance recorded a turnover of EUR 193 million.
“Despite the lingering effects of the pandemic on the industry, we have managed to stay lean, business-oriented, and keep anticipating every situation that comes our way. This approach has allowed us to sustain explosive growth, as evidenced by our performance indicators. Even with Covid-19 in full swing, we had a blockbuster year in which we achieved a significant operational milestone—1 billion worth of total loans issued,” states Toms Jurjevs, Founder and CEO of Sun Finance.
In the middle of last year, Sun Finance Group completed its largest-to-date bond issue of EUR 20 million to further strengthen the company's development. At the end of 2021, Sun Finance listed its second bond tranche of EUR 15 million on Nasdaq First North.
Jurjevs emphasizes: “Sun Finance will continue to seek profitable growth by scaling the position in the industry. We will also focus on expanding our range of products in the existing markets. We have our own matrix strategy: expanding both geographically and product-wise.”
Sun Finance operates in 7 markets on 3 continents, focusing on its most recent product: the buy-now-pay-later service. Sun Finance employs over 1000 people worldwide, 150 of whom work in the Group’s headquarters in Riga, Latvia.
Sun Finance has secured a spot among Europe’s TOP3 fastest-growing fintech companies for the second consecutive year. In 2021, the company entered the rating of Europe’s 1000 fastest-growing enterprises compiled by Financial Times, a renowned business media, with the highest growth rate of all time among fintech companies since the establishment of the FT 1000 rating in 2017.