Sun Finance Group records more than EUR 100 million of turnover in 2019

Last year, the financial technology company Sun Finance recorded a turnover of EUR 101.5 million, an increase of almost three times compared with 2018 results, when the Group's turnover was EUR 36.5 million, according to the audited financial results of 2019. In turn, the Group's net profit last year was EUR 7.1 million.

“Last year we worked hard to strengthen our position in the existing markets, as well as to further diversify the geographical profile of the Group. Driven by this strategy, we grew the amount of issued loans in the more mature businesses — Poland, Latvia, Denmark, Kazakhstan and Mexico. At the same time, our business development team focused on launching our new countries, which allowed us to successfully start operating in Sweden and Vietnam in the middle of last year,” comments Toms Jurjevs, founder and CEO of Sun Finance Group.

The Group is currently working on new lending products, which will be available later this year. Assessing the performance in 2020 thus far, Toms emphasizes: “Despite the worldwide spread of COVID-19, we have continued to work on development of the Group, both in terms of product and further geographical expansion. We also expect this to be another strong year for Sun Finance Group in terms of financial results.”

To finance the rapid development, Sun Finance Group successfully completed its first bond issuance last year, attracting additional investments in the amount of EUR 10 million, while this October the Group registered a second bond issue of up to EUR 15 million in NASDAQ CSD, planned to further diversify the funding profile.

The Group made tax payments of more than EUR 3.7 million into Latvia's budget in 2019. Founded in 2017, Sun Finance Group has issued more than EUR 750 million in loans.