Sun Finance Explained

Sun Finance Group
Type:Private
Industry:Financial technology
Products:Personal finance
Founder:Toms Jurjevs, Emils Latkovskis
Hq Location City:Riga
Hq Location Country:Latvia
Area Served:Latvia, Sweden, Denmark, Poland, Vietnam, Kazakhstan, Mexico
Key People:Toms Jurjevs (CEO)
Emils Latkovskis (COO)
Num Employees:1000+[1]

Sun Finance Group is a Latvian financial technology company operating as an online and mobile lending marketplace.[2] The company was founded by Toms Jurjevs and Emils Latkovskis in 2017 and is headquartered in Riga, Latvia.[2] Sun Finance is present in several countries across Europe, Asia, and Latin America.

History

Founding

Jurjevs and Latkovskis established the company in Riga in 2017.[3] Prior to founding Sun Finance Group, Jurjevs was CEO of non-bank creditor company 4finance.[4] [5] [6] His co-founder Emils Latkovskis was a former footballer,[7] CEO of the Latvian Higher League, and a board member of the Latvian Football Federation[8] [9] and UEFA Futsal and Beach Soccer committee member.[10] [11] [12] [13]

Further development

In 2019, Sun Finance Group unified all of its loan originators under the Sun Finance brand.[14] In Kazakhstan, Sun Finance sponsored youth football tournaments for the Auyl Football project in May 2021.[15] By July 2021, Sun Finance has issued loans with the overall amount of $1 billion.[16] [17] On October 14, 2021, the company began trading bonds on the Nasdaq First North market of the Baltic stock exchanges.[18] As of 2022, Sun Finance Group has 6 million registered users.[1] The company has been noted by the media sources and financial technology industry.[19] [20] [21] [22] [23] [24] [25] [26]

In 2023 Sun Finance was among Europe’s fastest-growing companies.[27]

Operations

Sun Finance Group engages in the operation of online loan marketplace for the consumers seeking private loans and other credit-based offerings. Its consumer segment includes micro loans, small business loans, personal loans and consumer loans. The company operates across several regions in the countries including Sweden, Denmark, Poland, Latvia, Vietnam, Kazakhstan, and Mexico.[28] The company provides services such as short-term loans,[29] [30] line of credit, and installments. Sun Finance uses data processing models that consider up to 10,000 data points to assess client risk.[31] Sun Finance also uses Hello Soda's technology for customer identity verification.[32]

Financing

Sun Finance Group pulls its financing from sources such as bonds issued on NASDAQ and the Mintos peer-to-peer platform under the trading name SUNB110022FA.[1] The company issued its first bonds in 2019 while had its second bond issuance in October 2020.[33]

Notes and References

  1. Web site: Sun Finance . Nasdaq .
  2. Web site: Latvian fintech company named among Europe's fastest-growing. 2021-06-03. eng.lsm.lv. en.
  3. Web site: Sun Finance kopējais aizdevumu apjoms sasniedz miljardu eiro. 2021-11-14. Dienas Bizness. lv.
  4. Web site: 2017-10-06. "4finance" bijušais vadītājs Toms Jurjevs dibinājis finanšu tehnoloģiju uzņēmumu "Fintech". 2021-06-03. TVNET. lv.
  5. Web site: Fintech multimākslinieks. 2021-06-03. forbesbaltics.com.
  6. Web site: Meet Europe's fastest growing fintech (it's not who you think) Sifted. 2021-11-14. sifted.eu.
  7. Web site: 2016-07-04. Latkovska vārti nodrošina dueli pret Kļaviņu, "Skonto" iesit 17. 2021-06-03. Sportacentrs.com. lv.
  8. Web site: Emīls Latkovskis. 2021-06-03. www.diena.lv.
  9. Web site: 2014-09-21. 1.līga: RFS zaudē punktus pret "Ogri", spēlē arī E.Latkovskis. 2021-06-03. Sportacentrs.com. lv.
  10. Web site: Lācis. Uldis Strautmanis; Reinis. 2020-07-03. Ļašenko kļūst par Latvijas Futbola federācijas prezidentu. 2021-06-03. delfi.lv. lv.
  11. Web site: Match-Fixing and Money Laundering: The Bitter Demise of Latvian Soccer. 2021-06-03. www.vice.com. en.
  12. Web site: Vadims Lasenko elected president of Latvian Football Federation News LETA. 2021-06-03. www.leta.lv.
  13. Web site: 2019-10-02. Composition of the UEFA Organs and Bodies Mandate 2019-2023.
  14. Web site: 2019-11-22. Sun Finance unifies its loan originators under one group. 2021-06-03. Mintos Blog. en-US.
  15. Web site: 2021-05-25. Представители Sun Finance выделили 5 млн тенге на развитие проекта "Ауыл Футбол". 2021-11-14. almaty.tv. ru.
  16. Web site: Lloyd. Michael. Latvian P2P platform passes €1bn lending milestone Peer2Peer Finance News. 2021-11-14. en-GB.
  17. Web site: Latvian online lender Sun Finance smashes €1bn loan target. 2021-11-14. AltFi. en.
  18. Web site: 2021-10-14. Börsil algas kauplemine järjekordse Läti finantsettevõtte võlakirjadega. 2021-11-14. Investor. et.
  19. Web site: Kelly. Maxine. 2021-03-02. FT 1000: the fifth annual list of Europe's fastest-growing companies. 2021-06-03. www.ft.com. en-GB.
  20. Web site: Labs of Latvia. 2021-06-03. labsoflatvia.com. lv.
  21. Web site: Bunq, Scalable Capital, CrowdProperty and LendInvest among FT's fastest-growing European companies in 2021. 2021-06-03. AltFi. en.
  22. Web site: Welch. Faye. 2021-03-03. Swapfiets is among the ten fastest growing European FT companies. 2021-06-03. Commentary Box Sports. en-US.
  23. Web site: 2021-03-02. Two Czech Firms Make FT List Of Fastest Growing Companies. 2021-06-03. Prague Business Journal. en-US.
  24. News: Taylor. Charlie. Three Irish businesses make list of fastest growing companies in Europe. 2021-06-03. The Irish Times. en.
  25. Web site: Latvijas uzņēmumam pirmo reizi vēsturē izdodas iekļūt "Financial Times" reitinga augšgalā. 2021-06-03. Jauns.lv. lv.
  26. Web site: Latvia represented at the very top of the Financial Times fastest growing European companies rating. 2021-06-03. neatkariga.com. en.
  27. Web site: Sun Finance among Europe's fastest-growing companies for the third time . 2023-05-04 . baltictimes.com.
  28. Web site: Sun Finance Group records more than EUR 100 million of turnover in 2019. 2021-06-03. neatkariga.com. en.
  29. https://www.mintos.com/blog/sun-finance-expands-and-offers-new-investment-opportunities-in-vietnam-on-mintos/ Sun Finance expands and offers new investment opportunities in Vietnam on Mintos
  30. https://p2pempire.com/en/lender-rating Should You Trust The Mintos Lender Ratings?
  31. Web site: Sun Finance grupa trīs gados uzsāk darbu trīs kontinentos. 2021-06-03. Dienas Bizness. lv.
  32. Web site: Begum. Shelina. 2020-06-05. Manchester tech firm launches new 'game changing' platform. 2021-11-14. Business Live. en.
  33. https://www.baltictimes.com/signet_bank_successfully_completes_the_subscription_for_the_bonds_of_sun_finance_group/ Signet Bank successfully completes the subscription for the bonds of Sun Finance Group

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