Longo Group

What Longo Group does

Longo Group is the largest used car retailer in the Baltic states, operating a vertically integrated business model that spans vehicle sourcing in Western Europe (Netherlands, Belgium, Germany), preparation and refurbishment at Lithuanian facilities, and retail sales across Latvia, Lithuania, Estonia, and Poland through both physical showrooms and a proprietary e-commerce platform. Founded in 2018 by Edgars Cērps and headquartered in Riga, Latvia, the company operates through 9 wholly-owned subsidiaries, employs 140+ professionals, and maintains 7 sales points plus multiple preparation and sourcing centers. The company's proprietary IT infrastructure integrates inventory, sales, and customer interactions across markets, and the company operates independent of third-party classified platforms.

The business generates revenue primarily through one-time used car sales, supplemented by extended warranty and aftersales services and referral economics from bank and insurance partnerships that provide customer financing. Longo follows a direct-to-consumer go-to-market model, sourcing vehicles from Western European markets, transporting them to Lithuania for inspection, servicing, and repair, then distributing them across four sales markets via country-specific websites and showrooms. Cumulative vehicles sold exceed 18,100, and the digital storefront attracts approximately 340,000 unique monthly visitors. The company employs a CEO (Edgars Cērps, ex-Bain & Company and Nokia, INSEAD-educated), COO, CFO, three country managers, and functional heads covering sourcing, preparation, IT, pricing, and BI/data.

Longo has accessed capital markets through two bond issuances: a €5 million senior secured notes issue on Nasdaq First North in November 2022 (debut) and a €10 million public bond offering on Nasdaq Riga in November 2024 that was oversubscribed by 21% (€12.1 million demand). The bonds carry a 10% annual coupon paid monthly with a 3-year maturity and are secured by pledges on subsidiary assets; investors committing over €500 gain access to a car-purchase loyalty program. For 2023, Longo reported €47.8 million in revenue and €1.69 million in full-year EBITDA, and has maintained an equity ratio consistently above 50% (53%). H1 2024 showed revenue of €22.6M (down 8% YoY on lower ASPs but stable volumes) alongside 9% EBITDA growth and 13% gross profit growth.

Name

Longo Group

Legal name

AS Longo Group

Website

https://longo.group

Company type

Public

Founded year

2018

Operating status

Operating

Short description

Longo Group is the largest used car retailer in the Baltic states, operating a vertically integrated model that sources used vehicles from Western Europe, prepares them in Lithuania, and sells through 7 showrooms and a proprietary e-commerce platform across Latvia, Lithuania, Estonia, and Poland.

Ownership category

akta.pro rank

Product category

Used Car Retail

NAICS

Used Car Dealers (44112), Used Car Dealers (441120)

akta.pro primary industry

Used Vehicle Leasing (Pre-Owned Lease Programs) (TLABAAAG)

akta.pro secondary industry

Vehicle Protection & Add-on Product Financing (Warranties, GAP, Service Plans) (FSAKADAL)

Keywords

• Used car retail
• Automotive retail
• Vehicle sourcing
• Aftersales warranty
• Bond issuance

Headquarters

HQ city

Riga

HQ country

Latvia

HQ region

Europe

Offices10 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Used Car Sales: Primary revenue stream from selling used cars to consumers across Latvia, Lithuania, Estonia, and Poland through physical showrooms and online platform. Cars are sourced from Western Europe, transported to Lithuania for preparation, then sold in target markets.
2. After-sales Services: Revenue from extended warranty deals and after-sales services, including warranty and reengaging customers for next purchase
3. Financing Partnerships: Revenue generated through partnerships with leading banks and insurance companies providing attractive financing and extended warranty deals

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels7 records

Core offering

Longo Group sells inspected, serviced and warranty-backed used vehicles sourced from Western Europe to consumers in the Baltic states and Poland through a network of physical showrooms and a proprietary e-commerce platform. The group also issues secured bonds on Nasdaq Riga as part of its capital structure and offers aftersales warranty, financing referral and car preparation services that span the full vehicle lifecycle from sourcing to resale.

Product overview

Longo Group operates as the largest used car retailer in the Baltic region, offering a vertically integrated business model. The company combines used car sales through physical showrooms and an online platform with sourcing operations from Western Europe, vehicle preparation at its Lithuania center, and aftersales warranty services. Additionally, the company offers secured bond investments through Nasdaq Riga and an investor loyalty program for bond subscribers.

Differentiator

Problem solved

Functional benefit

Products and services

• Used Car Sales Retail sale of inspected, serviced and warranty-backed used vehicles sourced from Western Europe, offered to individual consumers across Latvia, Lithuania, Estonia and Poland through 7 showrooms and a proprietary online platform.
• Online Sales Platform Proprietary e-commerce storefront available via country-specific domains (longo.lv, longo.lt, longo.ee, longo.pl) that allows customers to browse and purchase used vehicles online.
• AS Longo Group Secured Bonds Secured fixed-income investment product offered to retail and institutional investors in the Baltics, paying a 10% annual coupon monthly and traded on Nasdaq Riga, backed by pledges on subsidiary assets.
• Investor Loyalty Program Loyalty program for bond investors who commit more than €500, providing discounts on Longo used car purchases and related benefits.
• Aftersales Warranty Services Extended warranty and aftersales support sold with used vehicles, delivered in cooperation with leading banks and insurance partners, intended to retain customers for their next purchase.
• Car Preparation Services Vehicle preparation service covering inspection, servicing, repair, cleaning and photography of sourced vehicles at the Lithuanian preparation facilities before onward distribution to retail markets.

Quantifiable outcome

• 53% equity ratio consistently maintained, highlighting stable capital structure
• +4 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature2 records

Partnerships

Seven partnerships are on record, tiered core, major and supporting.

• Eversheds SutherlandcoreImplementation/ SI/ Consulting PartnerInternational law firm serving as legal counsel for the AS Longo Group bond issue, providing legal advice and documentation for the secured bond program.
• SorainencoreImplementation/ SI/ Consulting PartnerBaltic law firm serving as collateral agent for the bond issue, overseeing pledge arrangements on assets of AS Longo Group subsidiaries in Latvia and Lithuania.
• Bank of LatviacoreOthersRegulatory authority that approved the Base Prospectus of the secured bond issue of AS Longo Group, enabling the public bond offering on Nasdaq Riga.
• Citadele BankmajorChannel Partner/ Reseller/ DistributorBaltic commercial bank enabling bond subscriptions through its online banking platform for the AS Longo Group public bond offering.
• LuminormajorChannel Partner/ Reseller/ DistributorBaltic commercial bank providing the Luminor Investor platform for bond subscriptions in the AS Longo Group public bond offering.
• Leading Banks and Insurance CompaniesmajorStrategic or Co-development PartnerPartnerships with leading banks for financing options and insurance companies for extended warranty deals, providing customers with comprehensive car purchase financing and protection.
• Investment and Development Agency of Latvia (LIAA)supportingStrategic or Co-development PartnerLIAA provided EU-supported investment for Longo Group's new internal server implementation to improve data management processes in August 2025.

Scale indicators16 records

Recent moves9 records

Expansion highlights6 records

Emerging players

• Carro: Carro is a leading used and new car marketplace and financing platform in Southeast Asia, operating a vertically integrated model spanning sourcing, inspection, financing, and resale. Like Longo, it targets trust deficits in fragmented used car markets and bundles financing and warranty as core differentiators.
• Kavak: Kavak is the largest used car platform in Latin America, operating a vertically integrated sourcing-to-sales model with proprietary digital channels in emerging markets. While geography differs, the comparable business model — fragmented market consolidation via trust, warranties, and financing — closely parallels Longo's Baltic strategy.
• Spinny: Spinny is a leading full-stack used car platform in India, combining inspection centers, fixed-price online sales, and integrated financing. The business model of consolidating a fragmented market through quality assurance and digital channels closely parallels Longo's Baltic strategy.

Broad incumbents

• CarMax: CarMax is the largest used car retailer in the United States, combining physical superstores with a proprietary omnichannel platform and integrated financing. It is the archetypal scaled used car retailer and serves as the global benchmark for vertically integrated used car retail economics.
• Auto1 Group: Auto1 Group is Europe's largest used car platform, operating a vertically integrated B2B and B2C model across 30+ countries. While much larger and pan-European, it shares Longo's vertical integration thesis — sourcing, refurbishing, and selling used vehicles through proprietary digital channels — making it the most relevant scaled comparable.
• AutoScout24: AutoScout24 is Europe's largest online car marketplace, operating across more than 20 countries including the Baltics. While primarily a classifieds platform rather than a vertically integrated retailer, it competes for the same used car demand and is a critical comparison point for Longo's proprietary e-commerce strategy.
• Emil Frey Group: Emil Frey Group is one of Europe's largest automotive retail groups, operating across new and used vehicle sales, aftersales, and financing in multiple European markets. Its multi-country, multi-brand retail platform serves as a broader incumbent comparable for Longo's regional expansion ambitions.

Others

• Mobile.de: Mobile.de is Germany's largest online vehicle marketplace, primarily serving private and dealer listings for new and used cars. While not a vertically integrated retailer, it is a key channel where Longo sources inventory from Western European supply and is the dominant classifieds alternative to Longo's proprietary platform.

Direct peers

• Cazoo: Cazoo pioneered the online-first used car retail model in Europe with home delivery and a vertically integrated refurbishment network. Despite its post-IPO restructuring, the original model closely mirrors Longo's digital + showroom hybrid approach in a fragmented regional market.
• Aures Holdings (AAA Auto): Aures Holdings operates AAA Auto, the largest used car retailer in Central Europe, with multi-country showrooms and a vertically integrated model. It is the direct benchmark Longo cites for potential 8-10% market share in the Czech Republic and is the closest operational comparable by geography, scale, and business model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/longo-group
• Instagraminstagram.com/longo.lv

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries9 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 Longo Group