Sun Finance
| Company type | Private |
|---|---|
| Industry | Financial technology |
| Founded | 2017 |
| Founder | Toms Jurjevs, Emils Latkovskis |
| Headquarters | Riga , Latvia |
Area served | Europe, Asia, Latin America |
Key people | Toms Jurjevs (Founder), Emils Latkovskis (Founder) |
| Products | Online and mobile lending marketplace; microloans, personal loans, small business financing, consumer credit |
Sun Finance Group is a Latvian-based financial technology enterprise specializing in an online and mobile lending marketplace. Established in 2017 by Toms Jurjevs and Emils Latkovskis, the company is headquartered in Riga, Latvia, and operates across regions including Europe, Asia, and Latin America.
Establishment
The company was founded in Riga in 2017 by Jurjevs and Latkovskis. Prior to launching Sun Finance Group, Jurjevs held the position of CEO at the non-bank lender 4finance. His partner, Emils Latkovskis, has a background as a professional football player, served as CEO of the Latvian Higher League, sits on the board of the Latvian Football Federation, and participates in UEFA’s Futsal and Beach Soccer committees.
Growth and milestones
In 2019, Sun Finance Group consolidated all its loan originators under a single Sun Finance brand. The firm supported youth football initiatives in Kazakhstan through sponsorship of the Auyl Football project tournaments in May 2021. By mid-2021, the company had disbursed loans amounting to $1 billion. On October 14, 2021, Sun Finance commenced bond trading on Nasdaq First North within the Baltic stock exchanges. By 2022, the platform had amassed 6 million registered users.
The organization has earned acknowledgment from fintech media and industry experts for its swift expansion and innovative solutions. In 2023, Sun Finance achieved recognition as one of Europe’s fastest-growing firms for the third consecutive time.
Operations
Sun Finance Group runs an online lending marketplace catering to individuals seeking various credit products such as microloans, personal loans, small business financing, and consumer credit.
Its operational footprint includes countries like Sweden, Denmark, Poland, Latvia, Vietnam, Kazakhstan, and Mexico. The product lineup features short-term loans, credit lines, and installment payment options. The company applies sophisticated data analytics processing up to 10,000 variables to evaluate borrower risk effectively. Furthermore, it integrates Hello Soda's identity verification technology to authenticate customers.
Financing
The company funds its activities via bond offerings on the NASDAQ exchange as well as through the peer-to-peer platform Mintos, trading under the ticker SUNB110022FA. Its inaugural bond issuance occurred in 2019, followed by a subsequent offering in October 2020.