Altero

What Altero does

Altero is a Riga-based FinTech operating a multi-category financial services comparison and brokerage platform targeting consumers and small businesses in Latvia. Founded in 2016, the platform allows users to submit a single application and receive personalized offers from 30+ lending partners (including Citadele, TFBank, Incredit, Ferratum, Indexo, and Mogo) and 6+ major insurance carriers (including Compensa/Vienna Insurance Group, ERGO, If P&C, BALTA, BTA, and Gjensidige) across credit, insurance, and electricity verticals. The company operates through three wholly-owned Latvian entities — SIA "Altero" (credit comparison), SIA "Altero Insurance" (insurance brokerage under Latvijas Banka license No. 06.09.02/2297), and SIA "Altero Energy" (electricity price comparison) — covering consumer loans, auto loans, refinancing, mortgages, factoring, and 25+ insurance categories including OCTA, KASKO, property, travel, cyber, pet, cancer, and agricultural coverage.

The platform is built on a web-based self-serve architecture with integrations to Smart-ID and eParaksts for remote contract signing, Stripe and Tarkpay/Maksekeskus for payment processing, and DPD for courier document delivery. Its distribution model is digital-first PLG (product-led growth), supported by phone and WhatsApp customer service, with active content marketing across Facebook, LinkedIn, Instagram, TikTok, and YouTube. The company has built a 4.90 Google rating across 2,167 reviews and claims an average 1200 EUR in annual customer savings.

Altero's business model is commission-based affiliate/referral revenue: consumers access the service free of charge, and Altero earns commissions from lending partners when loans are completed and from insurance carriers when policies are bound. The platform also generates referral fees from electricity suppliers. It does not hold a banking or insurance underwriting license and functions purely as an intermediary/aggregator rather than a direct lender or risk carrier.

Name

Altero

Legal name

SIA "Altero"

Website

https://altero.lv

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Altero is a Riga-based FinTech operating a free comparison and brokerage platform that connects Latvian consumers and SMBs with 30+ lenders and 6+ insurers across credit, insurance, and electricity verticals, earning commissions from partner institutions.

Ownership category

akta.pro rank

Headquarters

HQ city

Riga

HQ country

Latvia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Commission from lending partners: Altero earns commission fees from financial institutions when customers complete loan applications through the platform and subsequently sign agreements with partner lenders. This is the primary revenue stream.
2. Insurance distribution commission: As a licensed insurance broker (License No. 06.09.02/2297), Altero earns commissions from insurance companies for policies sold through the platform, including auto, home, travel, and other insurance products.
3. Electricity comparison service: Platform also offers electricity price comparison, likely earning referral fees from energy providers when customers switch suppliers.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels9 records

Core offering

Altero operates a Latvian financial services comparison and brokerage platform that aggregates loan, insurance, and electricity offers from more than 30 lending partners and major insurers. Customers submit a single application on altero.lv and receive multiple personalized offers from third-party providers; the service is free for end users and Altero earns commissions from partner lenders and insurers when contracts are completed. Altero also acts as a licensed insurance broker (License Nr. 06.09.02/2297) and offers an electricity price comparison service.

Product overview

Altero operates as a multi-category financial services comparison and brokerage platform in Latvia, connecting consumers and businesses with a network of over 45 financial and insurance partners. The platform offers two primary service lines: (1) a loan comparison service covering consumer loans, auto loans, refinancing, loan consolidation, solar loans, home improvement loans, and mortgages for individuals, plus working capital, equipment financing, factoring, and agricultural funding for businesses; and (2) an insurance comparison and brokerage service spanning motor insurance (OCTA, KASKO), property insurance (home, commercial property), travel insurance, personal insurance (accident, income protection, pet, children's, cancer, health for foreigners, cyber risk), watercraft insurance, liability insurance (general and professional), plus specialized coverage for businesses including cargo, livestock, crops, equipment, special machinery, and business interruption. The platform also includes an electricity price comparison service. Altero acts as an intermediary/marketplace—collecting user applications and forwarding them to partner institutions—rather than directly providing loans or insurance. Core offerings are complemented by a loan calculator, credit comparison tools, and remote contract signing via Smart-ID and e-Paraksts integration.

Differentiator

Problem solved

Functional benefit

Products and services

• Consumer Loan Comparison Comparison service for personal consumer loans ranging from 100 to 25,000 EUR with terms of 3 to 120 months and rates starting from 6.9% per year, targeting Latvian residents.
• Auto Loan Comparison Comparison of vehicle financing offers from partner lenders, with amounts up to 25,000 EUR and rates starting from 6.9% annually.
• Mortgage Loan Comparison Long-term real estate financing comparison service offering loans from 3,000 to 200,000 EUR with terms up to 240 months and rates starting from 7% annually.
• Loan Refinancing Comparison Comparison service for refinancing existing loans, allowing customers to consolidate debts with improved terms and potentially lower interest rates, up to 25,000 EUR.
• Loan Consolidation Comparison Service comparing offers for combining multiple outstanding loans into a single consolidated loan with unified monthly repayment terms.
• Business Financing Comparison Comparison of business financing options for Latvian SMEs, including working capital loans, equipment purchase financing, real estate financing, agricultural loans, and factoring, starting from 1,000 EUR.
• Invoice Factoring Comparison Comparison of invoice factoring offers from partner providers, starting from 500 EUR with rates from 0.2% monthly for accounts receivable financing.
• OCTA Insurance Comparison Comparison and online purchase service for mandatory motor third-party liability (OCTA) insurance for vehicles registered in Latvia.
• KASKO Insurance Comparison Comparison of comprehensive voluntary motor insurance (KASKO) covering damage, theft, and additional risks, valid across Latvia, the Baltics, Europe, and CIS regions.
• Home Insurance Comparison Comparison and purchase service for home property insurance covering residential buildings and contents, priced from 0.70 EUR per square meter.
• Travel Insurance Comparison Comparison service for travel insurance covering medical emergencies, baggage loss, trip cancellation, and civil liability for international travel, available in basic to premium plans.
• Electricity Price Comparison Comparison service for residential electricity prices from major Latvian energy retailers, using actual consumption data from the past month to identify savings.
• Business Insurance Comparison Comparison service for commercial insurance lines including commercial property, equipment, cargo, livestock, crop, special machinery, business interruption, professional liability, and corporate health insurance.

Quantifiable outcome

• Average annual customer savings of 1200 EUR
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

17 partnerships are on record, tiered core.

• CitadelecoreChannel Partner/ Reseller/ DistributorBank offering loan products through Altero platform. Customers can receive personalized loan offers from Citadele alongside other lenders.
• TFBankcoreChannel Partner/ Reseller/ DistributorConsumer lending products available through Altero comparison platform.
• Incredit GroupcoreChannel Partner/ Reseller/ DistributorConsumer and business lending products offered through the platform.
• FerratumcoreChannel Partner/ Reseller/ DistributorFast online loans and consumer credit products available via Altero.
• IndexocoreChannel Partner/ Reseller/ DistributorDigital bank offering financial products through the Altero platform.
• MogocoreChannel Partner/ Reseller/ DistributorAuto financing and leasing products available through comparison platform.
• Compensa Vienna Insurance GroupcoreChannel Partner/ Reseller/ DistributorMajor insurance provider offering property, auto, travel and income protection insurance through Altero. Altero acts as licensed insurance agent (License Nr. 06.09.02/2297).
• ERGO InsurancecoreChannel Partner/ Reseller/ DistributorInsurance products including auto (KASKO), travel, and property insurance available on Altero platform.
• If P&C InsurancecoreChannel Partner/ Reseller/ DistributorProperty and casualty insurance products distributed through Altero.
• BALTA InsurancecoreChannel Partner/ Reseller/ DistributorAuto, property and other insurance products available on the platform.
• BTA Baltic InsurancecoreChannel Partner/ Reseller/ DistributorComprehensive insurance products including cyber risk insurance offered through Altero.
• Baltijas Apdrošināšanas Nams (BAN)coreChannel Partner/ Reseller/ DistributorInsurance products distributed via the Altero platform.
• GjensidigecoreChannel Partner/ Reseller/ DistributorInsurance products available through Altero comparison platform.
• Smart-IDcoreTechnology or IntegrationElectronic signature solution integrated into platform enabling remote loan contract signing.
• eParaksts (eID)coreTechnology or IntegrationNational electronic signature service enabling legally binding remote document signing.
• StripecoreTechnology or IntegrationPayment processing platform (Stripe Payments Europe, Limited) handling credit/debit card transactions for insurance purchases.
• Maksekeskus AScoreTechnology or IntegrationPayment platform (via TarkPay by Mezeni OÜ) handling bank transfers and internet banking payments.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCRJZVkmDb8JZHS-eRyRXrzQ
• Facebookfacebook.com/altero.lv
• LinkedInlinkedin.com/company/alterofinance
• Instagraminstagram.com/altero.lv
• TikToktiktok.com/@altero_lv
• Xx.com/AlteroLv

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

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 Altero