DelfinGroup
DelfinGroup is a Latvian-licensed fintech offering consumer loans, pawn loans, POS financing, and pre-owned goods retail under the Banknote and VIZIA brands through 90+ branches and digital channels in Latvia and Lithuania.
- Company typePublic
- Founded2009
- HeadquartersRiga, Latvia
- Headcount101–250
- GTM typeB2C
- OfferingServices
What DelfinGroup does
DelfinGroup is a Latvian-licensed fintech company founded in 2009 that operates a hybrid lending-and-retail platform serving consumer borrowers in Latvia and Lithuania. The company offers four product lines under two brands: consumer loans (EUR 50-10,000) and pawn loans (up to 95% of collateral value, terms up to 24 months) anchored in the Banknote branch network of 90+ locations, point-of-sale financing (EUR 50-1,400, terms up to 36 months), and pre-owned goods retail sourced from pawn collateral and customer buy-ins. Distribution is omnichannel: physical Banknote branches across Latvia plus a five-branch pilot in Vilnius (opened December 2023), digital channels at banknote.lv and the Banknote online store veikals.banknote.lv, and the fully online VIZIA consumer-lending brand. The primary customer base is subprime-adjacent and financially underserved consumers — including seniors who prefer branch service and individuals lacking access to traditional banks or digital banking — alongside circular-economy participants buying and selling verified pre-owned goods.
The technology stack is largely proprietary: in-house-built loan issuance and e-commerce systems serve a 400,000+ client base, supported by machine-learning credit scoring models trained on 100,000+ integrated data points and an automated decisioning engine that processes 95% of applications without human intervention. A real-time BI layer runs on Microsoft PowerBI fed by ETL pipelines and OLAP cube aggregations, and the company operates under a documented ISO 56000 innovation framework. Information security and quality controls are externally validated through Bureau Veritas ISO 27001, ISO 9001, and ISO 50001 certifications.
DelfinGroup generates revenue primarily through interest income on consumer, pawn, and POS loans (recurring), supplemented by retail margin on pre-owned goods sales and transaction fees on loans distributed via the Mintos P2P marketplace. Capital is sourced from listed bonds on Nasdaq Riga (first public bond of EUR 15 million raised in September 2024 against EUR 22.3 million of demand), a EUR 17.25 million revolving credit facility from Multitude Bank, and a 5,927-investor retail shareholder base. Following 2025-2026 share buyback activity, IPAS INDEXO holds 71.52% of voting rights, embedding DelfinGroup within a larger Baltic financial-services platform.
DelfinGroup firmographics
Firmographics- Name
- DelfinGroup
- Legal name
- AS DelfinGroup
- Website
- https://delfingroup.lv
- Company type
- Public
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- DelfinGroup is a Latvian-licensed fintech offering consumer loans, pawn loans, POS financing, and pre-owned goods retail under the Banknote and VIZIA brands through 90+ branches and digital channels in Latvia and Lithuania.
- Ownership category
- akta.pro rank
DelfinGroup industry classification
Industry- Product category
- Consumer Lending
- NAICS
- Collection Agencies (561440)
- SIC
- Services-Consumer Credit Reporting, Collection Agencies (7320)
- akta.pro primary industry
- Short-Term Loan Servicing & Collections (Payday/Title) (FSAKAMAO)
- akta.pro secondary industry
- Specialty Consumer Loan Servicing & Collections (Subprime) (FSAKAOAJ)
Keywords
Where DelfinGroup is headquartered
LocationHeadquarters
- HQ city
- Riga
- HQ country
- Latvia
- HQ region
- Europe
Offices2 records
Markets served
DelfinGroup business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Consumer Lending: Interest income from consumer loans ranging from EUR 50-10,000, offered both online and in branches through Banknote and VIZIA brands
- Pawn Lending: Secured loans up to 95% of pawned object value (jewellery, mobile phones, electronics, valuables) with terms up to 24 months
- POS/Point-of-Sale Loans: Purchase financing loans EUR 50-1,400 with terms up to 36 months for retail purchases
- Pre-Owned Goods Sales: Sale of pre-owned verified goods through 90+ offline branches and online store veikals.banknote.lv, with stock sourced from pawn collateral and direct purchases from customers
- P2P Lending Platform Fees: Loans originated through Mintos P2P platform enabling investors to fund loans
- Bond Issuance: Debt capital raised through listed bond issues on Nasdaq Riga, with coupons ranging from 9-11.5% plus EURIBOR for some tranches
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Consumer Loans: EUR 50-10,000 |
| Unit Pricing | Pay-as-you-go | Pawn Loans: Up to 95% of collateral value |
| Unit Pricing | Pay-as-you-go | POS Loans: EUR 50-1,400 |
| Transaction based/ take rate | Pay-as-you-go | Mintos P2P Investment: EUR 50 minimum |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels6 records
DelfinGroup product offering
Product offeringCore offering
DelfinGroup is a Latvian fintech that provides consumer loans (EUR 50–10,000), pawn loans (up to 95% of collateral value, up to 24 months), point-of-sale financing loans (EUR 50–1,400, up to 36 months), and the retail sale of verified pre-owned goods. Services are delivered through the Banknote brand via 90+ physical branches plus online channels, and through the fully online VIZIA brand, with 95% of loan issuance decisions automated by machine-learning credit scoring.
Product overview
DelfinGroup operates as a licensed fintech company offering consumer loans, pawn loans, POS loans, and pre-owned goods retail under the Banknote and VIZIA brands. The company combines financial services with circular retail, accessible through 90+ branches across Latvia and Lithuania, plus online channels. Banknote serves as the primary multi-channel brand for pawn loans and circular retail, while VIZIA operates as a fully digital consumer lending platform. Both brands share internal technology infrastructure including machine learning-powered credit scoring, automated loan decisioning, and in-house built loan issuance and e-commerce systems.
Differentiator
Problem solved
Functional benefit
Products and services
- Consumer Loans Unsecured consumer loans ranging from EUR 50 to EUR 10,000, available through both Banknote branches and the VIZIA online platform, for personal use across a wide range of life situations.
- Pawn Loans Secured pawn loans offering up to 95% of the appraised value of pledged items (jewellery, mobile phones, electronics, valuables) with loan terms of up to 24 months, with application and contract signing conducted at Banknote branches.
- POS Loans (Nomaksa) Point-of-sale purchase financing loans from EUR 50 to EUR 1,400 with terms up to 36 months, used to finance retail purchases and available both in branch and online.
- Sale of Pre-Owned Goods Retail sale of verified pre-owned, slightly pre-owned, and new goods through 90+ Banknote offline branches and the veikals.banknote.lv online store, with inventory sourced from pawn collateral, goods purchased directly from customers, and third-party partners.
Quantifiable outcome
- Revenue grew 24% YoY to EUR 78.2 million in Q4 2025
- +3 more outcomes
Companies that use DelfinGroup
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles4 records
DelfinGroup technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature5 records
DelfinGroup partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- MintoscoreMintos is the largest peer-to-peer financing platform in continental Europe. DelfinGroup distributes loans through the Mintos platform, allowing investors to invest in loans starting from EUR 50 minimum with regular interest income.
- SorainenminorSorainen law firm advised Multitude Bank on the provision of a EUR 17.25 million revolving credit line to DelfinGroup, providing full-scope legal support including drafting the credit agreement and preparing Latvian and Lithuanian collateral documentation.
- BDO AssuranceminorExternal auditor providing audit services. BDO is one of the leading audit companies in Latvia with international network of 115,000+ professionals in 166 countries.
- Latvian Senior Community Association (LSKA)minorLong-standing partnership (5+ years) supporting seniors in Latvia through community visits, donations, and social inclusion activities. DelfinGroup provides ongoing financial support and participates in joint events.
- Children's Hospital FoundationminorLong-standing partnership focusing on caring for children's health and supporting healthcare development in Latvia. DelfinGroup contributes to professional development and international exchange of experience for staff and caregivers.
Scale indicators14 records
Recent moves13 records
Expansion highlights6 records
DelfinGroup competitors and assessment
Company assessmentDirect peers
- 4finance (now Alfa Finance / rebranded): Latvia-headquartered online consumer lender offering short-term and installment loans across Europe. Most direct comparable in geography, customer profile (subprime), and product mix — both target underserved borrowers with automated online underwriting.
- FirstCash Holdings: US and Latin America pawnshop operator and specialty consumer lender, public on Nasdaq. Closest global comparable to DelfinGroup's pawn lending and pre-owned retail model — same core business of secured lending against personal property plus resale of unclaimed collateral.
- Bigbank: Estonian-headquartered consumer lender with strong Baltic presence, offering consumer loans and SME financing. Comparable to DelfinGroup in customer segment (mass-market and subprime), branch-and-digital hybrid distribution, and Baltic regional focus.
- EZCORP: US-based pawnshop and specialty consumer finance operator, public on Nasdaq. Direct global comparable in pawn loan origination, collateral resale, and underbanked customer targeting — only the geography differs.
- PROG Holdings: US lease-to-own and POS financing specialist, public on NYSE. Closest direct comparable for DelfinGroup's POS loan product (Nomaksa) — both extend consumer credit at the point of sale for retail purchases on installment terms.
- Inbank: Estonian specialty consumer lender and deposit-taker offering consumer loans, hire-purchase, and small business financing. Comparable to DelfinGroup as a Baltic-listed specialty lender with multi-channel distribution and growing loan book.
- Creamfinance: Latvia-founded fintech operating consumer lending platforms across multiple countries using AI-driven credit scoring. Closely comparable to DelfinGroup in ML-based underwriting approach, subprime customer targeting, and Baltic origin.
- VIA SMS Group: Latvia-based online consumer micro-lender active across Europe. Highly comparable to DelfinGroup's VIZIA brand — both serve near-prime/subprime borrowers with small-ticket consumer loans issued online with rapid automated decisions.
- Mogo Finance: Latvia-based asset-backed lender historically focused on vehicle financing, with operations across the Baltics, Caucasus and Africa. Comparable to DelfinGroup as a Latvian-headquartered non-bank lender using collateral/asset-based underwriting.
- Enova International: US-based online specialty consumer and SMB lender, public on NYSE. Comparable to DelfinGroup in ML-driven underwriting of subprime consumer credit at scale, recurring revenue interest model, and digital-first customer acquisition layered on top of physical distribution.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
DelfinGroup social profiles
Digital presenceDelfinGroup compliance and trust
Trust signalCompliance3 records
DelfinGroup financial estimates
Financial estimateRevenue estimate
Valuation estimate
DelfinGroup leadership team
Management profileNumber of profiles
Profiles3 records
DelfinGroup funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
DelfinGroup M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about DelfinGroup
What does DelfinGroup do?
DelfinGroup is a Latvian fintech that provides consumer loans (EUR 50–10,000), pawn loans (up to 95% of collateral value, up to 24 months), point-of-sale financing loans (EUR 50–1,400, up to 36 months), and the retail sale of verified pre-owned goods. Services are delivered through the Banknote brand via 90+ physical branches plus online channels, and through the fully online VIZIA brand, with 95% of loan issuance decisions automated by machine-learning credit scoring.
Is DelfinGroup a public or private company?
DelfinGroup is a public company. It is classified as public and is currently operating.
When was DelfinGroup founded?
DelfinGroup was founded in 2009. It employs 101 to 250 people.
Where is DelfinGroup based?
DelfinGroup is headquartered in Riga, Latvia, in the Europe region.
How does DelfinGroup make money?
Six revenue lines are on record. Consumer Lending is the primary driver. The others are pawn Lending, POS/Point-of-Sale Loans, pre-Owned Goods Sales, P2P Lending Platform Fees and bond Issuance.
Who are DelfinGroup's main competitors?
Direct peers on record are 4finance (now Alfa Finance / rebranded), FirstCash Holdings, Bigbank, EZCORP, PROG Holdings, Inbank, Creamfinance, VIA SMS Group, Mogo Finance and Enova International.
Does DelfinGroup have an API?
No public API is recorded for DelfinGroup.
What industry is DelfinGroup in?
DelfinGroup's product category is Consumer Lending. Its primary akta.pro industry code is FSAKAMAO, Short-Term Loan Servicing & Collections (Payday/Title), with a secondary code of FSAKAOAJ, Specialty Consumer Loan Servicing & Collections (Subprime). Its NAICS code is 561440 and its SIC code is 7320.