Last year, the financial technology company Sun Finance had a turnover of 101.5 million euros, which is almost three times more than in 2018, when the group’s turnover was 36.5 million euros.
This is evidenced by the audited financial results of 2019. Last year, the group’s profit was 7.1 million euros after taxes.
“Last year, we worked hard to strengthen our position in existing markets, as well as to further the group’s further geographical development. As a result, we purposefully increased the amount of issued loans in the existing countries – Poland, Latvia, Denmark, Kazakhstan and Mexico. At the same time, a separate development team focused on launching our new countries, which allowed us to successfully start working in Sweden and Vietnam in the middle of last year, ”says Tom Jurjev, founder and CEO of Sun Finance Group.
The company is currently working on new lending products, which will be available later this year. Assessing the development in 2020, T.Jurjevs emphasizes: “Despite the worldwide distribution of COVID-19, we have continued to work on the development of the group both in terms of increasing the range of products and further geographical expansion. Financially, this will also be a very strong year for the Sun Finance Group. ”
To finance the rapid development, Sun Finance Group successfully completed the bond issue for the first time last year, attracting additional investments in the amount of 10 million euros, while this year it is planned to attract another 15 million euros in financing by subscribing to corporate bonds.
In 2019, the company supplemented Latvia’s budget revenues with paid taxes in the amount of more than 3.7 million euros. Since its inception in 2017, Sun Finance Group has lent more than € 750 million.
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