Eleving Group Explores IPO and External Equity Options for Growth

Luxembourg/Riga, 17.04.2024 - Eleving Group, a prominent fintech organization based in the Baltic region and operating globally, announced its initiative to explore external equity-raising strategies, including a potential initial public offering (IPO). The group has engaged LHV Pank of Estonia as the Lead Arranger to oversee this strategic financial maneuver. This effort aims to secure additional capital to support expansion into new markets and the development of new products.

As outlined by Eleving Group CEO, Modestas Sudnius, LHV Pank will provide essential advice on these equity opportunities, which are expected to attract interest primarily from the Baltics and Europe. The formation of an IPO arranger syndicate is forthcoming. Additionally, Aalto Capital from Germany will participate as the Financial Advisor to offer further managerial support.

Eleving Group operates across three continents and 16 markets, focusing on vehicle and consumer financing. In 2023, the group reported strong financial results with significant figures in revenue, adjusted EBITDA, and net profit. These milestones align with their goal to enhance financial technology and services globally.