What Incredit does

Incredit (legal entity SIA InCREDIT GROUP) is a licensed non-bank consumer credit provider headquartered in Riga, Latvia, operating since 2010 as a wholly-owned subsidiary of Rietumu Banka. The company offers a comprehensive portfolio of credit products — unsecured consumer loans (Patēriņa kredīts) from EUR 300 to EUR 15,000 with terms up to 84 months, smaller-ticket PRIMA loans (EUR 100-2,000), auto credit (EUR 1,000-25,000), a revolving credit line (Kredītlīnija) up to EUR 2,000 with SMS-driven access, debt refinancing (Pārkreditācija), business loans, and point-of-sale installment financing through partner merchants. Its underlying technology stack centers on a digital loan-origination platform with identity verification and qualified electronic signatures via Smart-ID and eParaksts Mobile, an SMS-based credit-line access channel, and a self-service client profile portal; this is layered on top of a 20+-branch physical network for hybrid servicing.

The company's revenue model is anchored on interest income across the loan book, with APRs ranging from 23.15% to 53.27% and all contracts structured as EURIBOR-free to deliver fixed monthly payments. Secondary revenue comes from small (EUR 5-10) per-application processing fees when loans are originated at physical lending centers rather than online. Distribution combines direct-to-consumer digital origination (24/7 online, 30-minute decision), physical lending centers (20+ across Latvia), and channel partnerships with auto dealers and retail merchants for point-of-sale financing; customer relationship management is reinforced by the VĒL three-tier loyalty program. The addressable market is Latvian residents aged 21-70, with secondary exposure to small-business borrowers and debt-consolidation prospects. Operations run under Special Permit NK-2016-018 from the Latvian Consumer Rights Protection Centre, with the additional credibility signal of a State Revenue Service 'A' rating and a 4.8/5 Google rating across 1,299 reviews.

Name

Incredit

Legal name

SIA InCREDIT GROUP

Website

https://incredit.lv

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Incredit is a Latvian licensed non-bank consumer credit provider (since 2010), subsidiary of Rietumu Banka, offering consumer, auto, credit-line, refinancing, and POS installment loans via a digital platform and 20+ branch network.

Ownership category

akta.pro rank

Product category

Consumer Lending

NAICS

Credit Intermediation and Related Activities (522), Sales Financing (52222)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Large Purchase & Lifestyle Personal Loans (Unsecured Installment) (FSAKAAAG)

akta.pro secondary industry

Secured-to-Unsecured Refinance Personal Loans (Unsecured Installment) (FSAKAAAI)

Keywords

• Consumer lending
• Auto financing
• Credit lines
• Loan refinancing
• Installment credit

Headquarters

HQ city

Riga

HQ country

Latvia

HQ region

Europe

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Consumer Lending: Incredit generates revenue primarily through interest income on consumer loans, auto loans, credit lines, and refinancing products. Interest rates vary by product and customer loyalty tier, with APR (GPL) ranging from 23.15% to 53.27%.
2. Loan Processing Fees: Additional processing fees of 5€ or 10€ apply when loans are processed at physical lending centers (not for online applications)
3. Credit Line Maintenance: Credit line is provided free of charge for contract establishment; revenue generated from interest on drawn amounts only

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Incredit provides consumer credit products to Latvian residents through the incredit.lv online platform and a network of 20+ physical lending centers across Latvia. The offering comprises unsecured personal loans (€100–€15,000), auto purchase loans (up to €25,000), revolving credit lines (up to €2,000), debt refinancing, business loans, point-of-sale installment financing for goods and services, and purpose-specific loans (travel, renovation). Applications are processed digitally with 30-minute decisions, contracts executed via Smart-ID or eParaksts, and the portfolio is enhanced by a tiered VĒL loyalty program.

Product overview

Incredit is a licensed non-bank consumer credit provider operating in Latvia since 2010, offering a comprehensive portfolio of credit products through both online channels and a network of over 20 credit centers. The core product lineup consists of unsecured consumer loans (Patēriņa kredīts) from 300-15,000 EUR with terms up to 84 months; PRIMA loans for smaller amounts (100-2,000 EUR); auto credit for vehicle purchases (1,000-25,000 EUR); a revolving credit line (Kredītlīnija) up to 2,000 EUR; debt refinancing (Pārkreditācija) for consolidating obligations; business loans; and point-of-sale installment financing. These are complemented by purpose-specific variants for travel and renovation, a client self-service portal, and the VĒL three-tier loyalty program. The company differentiates through fast 30-minute approvals, fully digital online contract signing via Smart-ID and eParaksts, and a broad physical presence across Latvia.

Differentiator

Problem solved

Functional benefit

Brands

• VĒL: Loyalty program offering discounts on various credit products with three levels providing better conditions for loyal customers.

Products and services

• Consumer Credit (Patēriņa kredīts) Unsecured personal loan product for Latvian residents aged 21–70, with amounts from €300 to €15,000 and terms up to 84 months. Funds can be used for any personal purpose (travel, renovation, goods, services). Pricing is fixed-rate (APR 23.15%–53.27%), with first-month 0% promotional pricing on the PRIMA tier.
• PRIMA Loan (Kredīts PRIMA) Tiered consumer credit product offering €300–€15,000 with first-month 0% interest promotion and progressively better loyalty terms through the VĒL program. Repayment dates are fixed (10th or 15th of the month).
• Auto Credit (Kredīts auto iegādei) Loan product for vehicle purchase financing, with amounts from €1,000 to €25,000 and terms up to 84 months. Distributed both directly and through partner auto dealers across Latvia.
• Credit Line (Kredītlīnija) Revolving credit line product with a limit of up to €2,000 for new customers, available 24/7 via incredit.lv or SMS short number 22131000. Loan amounts range from €100 to €2,000 with terms of 1–24 months. Pricing is fixed (23.15%–53.27% APR), with first 30 days interest-free up to €500, free contract formation, and free repeated limit use.
• Refinancing (Pārkreditācija) Debt consolidation loan that lets customers refinance and combine existing credit obligations from other providers into a single Incredit contract with a unified payment schedule and potentially improved terms. Amounts from €100 to €25,000, terms up to 84 months.
• Business Loans (Kredīti uzņēmumiem) Credit product for Latvian small and medium-sized businesses needing working capital, equipment, or asset financing, distributed through incredit.lv and the lending-center network.
• Goods and Services Credit (Preces un pakalpojumi) Point-of-sale installment financing available at partner merchants, allowing customers to spread payment for goods and services over time through Incredit's credit products.
• Travel Credit (Kredīts ceļojumam) Purpose-specific consumer loan for financing travel expenses, issued through the same consumer-credit infrastructure and pricing framework.
• Renovation Credit (Kredīts remontam) Purpose-specific consumer loan for home renovation and improvement expenses, issued through the same consumer-credit infrastructure and pricing framework.

Quantifiable outcome

• 30-minute loan decision
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Auto DealerscoreChannel Partner/ Reseller/ DistributorAuto dealers across Latvia partner with Incredit to offer in-dealership auto financing. Customers can purchase vehicles from any seller including private individuals, with financing processed through the dealer or at Incredit lending centers.
• Retail MerchantsminorChannel Partner/ Reseller/ DistributorRetail stores and service providers offer installment payment options through Incredit, allowing customers to purchase goods and services on credit at point of sale. Partners benefit from increased sales conversion and customer base expansion.
• Smart-IDcoreTechnology or IntegrationIntegration with Smart-ID mobile application allowing customers to electronically sign loan contracts using qualified electronic signature (QES) for secure, convenient online agreement processing.
• eParaksts MobilecoreTechnology or IntegrationIntegration with eParaksts mobile application providing qualified electronic signature capability for secure online contract execution.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Aizdevums.lv (Latvijas Kredīts): Latvian non-bank consumer credit provider offering personal loans online. Direct regional competitor with similar digital-first consumer loan product targeting Latvian residents.
• Bigbank: Estonian-headquartered consumer and SME lender with Baltic operations including Latvia, offering consumer loans, auto loans, and refinancing—same product set as Incredit in the regional market.
• 4finance: Latvia-based, one of Europe's largest online and mobile consumer lending groups operating brands like Vivus, SMScredit, and Ondo. Directly comparable to Incredit as a Baltic-headquartered non-bank consumer lender with installment and credit line products.
• Creamfinance: Latvia-based online consumer lender operating across Europe, providing short-term and installment consumer loans. Direct peer in Baltic online consumer credit category with overlapping products and target customers.
• Mogo Finance: Latvia-based non-bank auto finance company (Eleving Group) specializing in vehicle loans and lease. Direct competitor in Incredit's auto lending product (1,000-25,000 EUR) with similar point-of-sale dealer integration model.
• Multitude (formerly Ferratum): Finland-headquartered digital lender with Baltic operations, providing consumer loans, credit lines, and small business lending. Operates in the same Baltic digital consumer credit category as Incredit.

Broad incumbents

• Banka Citadele: Major Latvian commercial bank offering consumer loans, auto loans, and credit lines. Larger incumbent competitor providing similar products through branch and digital channels, with broader financial services beyond credit.
• Luminor Latvia: Baltic banking group formed from DNB and Nordea operations, providing consumer credit products across Latvia, Lithuania, and Estonia. Competes with Incredit for consumer loans and auto financing in the same geography.
• SEB Banka Latvia: One of the largest banks in Latvia (subsidiary of SEB Group) providing consumer loans, auto financing, and credit lines. Established incumbent that competes with Incredit for prime consumer lending customers.
• Swedbank Latvia: One of the largest banks in Latvia offering consumer loans, auto loans, and refinancing. Major institutional competitor for consumer credit customers, with full branch and digital distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/increditlv
• Facebookfacebook.com/incredit
• LinkedInlinkedin.com/company/sia-incredit-group
• Instagraminstagram.com/incredit.lv
• TikToktiktok.com/@incredit.lv
• Xx.com/InCREDITGROUPlv

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Incredit