Current Auto

What Current Auto does

Current Auto (legal entity SIA Current Auto, registration number 40203228793) is a Riga-based, privately-held long-term vehicle rental operator serving Latvian resident consumers aged 18-65. The core product is a subscription-style rental with a contractual minimum term of 18 months: customers browse a catalog of 57+ vehicles spanning 15 brands (BMW, Audi, Volvo, Volkswagen, Mercedes, Opel, Skoda, Toyota, Kia, Ford, Mazda, Honda, Citroen, Dodge, Kawasaki), submit an online application, receive a credit decision within 30 minutes, and take delivery within one business day, with the option to purchase the vehicle after the minimum term.

The underlying platform is a web-based rental and billing system built around an online application form, a customer login portal, and an online payment page routed through Paysera LT UAB and Industra Bank AS. Every fleet vehicle is fitted with GPS telematics designated in the rental contract as an integral part of the vehicle, enabling geofencing, theft monitoring, and asset recovery. Credit decisions and recurring billing are enabled by an ecosystem of 12 listed financial partners (TF Bank, MOGO, Nord Līzings, Primero Finance, Finto Capital, Holm Bank, Inbank, Nordic Finance, Elizings.lv, Sefinance, Altero, Autego), and vehicle sourcing is augmented by a 25-dealer partner network across Latvia (including Re Auto, Car Mobile, Auto Kompleks, Manslizings.lv, Auto Capital). Customer-facing surfaces are localized in Latvian, Russian, and English, with GDPR-compliant data processing.

The business model combines a recurring monthly rental stream with one-time contract-processing commissions, extension fees, optional vehicle buyout/secondary sales, and security-deposit retention. Distribution is direct-to-consumer via the company's website (www.current.lv) and physical service centers in Riga (Zemitāna iela 9 and Latgales 450U), supplemented by dealer referrals. The company is privately held with no disclosed funding, parent, or subsidiary relationships, and operates exclusively within Latvia, with vehicles restricted to EU/EEA travel absent special permission.

Name

Current Auto

Legal name

SIA Current auto

Website

https://current.lv

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Current Auto is a Riga-based, privately-held operator of long-term (18-month minimum) vehicle rentals and buyouts for Latvian individual consumers, running a 57+ vehicle fleet sourced through 25 auto-dealer partnerships, financed via 12 banking partners, and billed through a web portal with GPS telematics.

Ownership category

akta.pro rank

Product category

Long-term Vehicle Rental / Car Leasing

NAICS

Passenger Car Rental (532111), Passenger Car Leasing (532112), Automotive Equipment Rental and Leasing (5321)

SIC

Services-Auto Rental & Leasing (No Drivers) (7510)

akta.pro primary industry

Vehicle Subscription Services (All-Inclusive, Flexible Term) (TLABAAAE)

akta.pro secondary industries

Long-Term Car Rental (Monthly/Extended Hire) (TLABAAAD), Consumer/Private Lease & Subscription (Personal Contract Hire) (TLABAAAC), Auto & Vehicle Leasing (Personal Use) (FSAKANAA), Long-Term / Fixed-Term Car Subscriptions (6–36 months) (THADACAD)

Keywords

• Long-term car rental
• Vehicle leasing services
• Car subscription platform
• Auto rental with buyout
• Consumer vehicle financing

Headquarters

HQ city

Riga

HQ country

Latvia

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Monthly Rental Payments: Recurring monthly rental fees paid by tenants for vehicle use. Payments include VAT and are made according to a payment schedule.
2. Contract Processing Commission: One-time commission fee charged for application review and contract preparation, proportional to the contract term and included in monthly payments.
3. Vehicle Purchase (Redemption): After minimum rental term, customers can purchase vehicles through a separate buyout agreement.
4. Extension Fees: Fees charged for extending rental term beyond the original agreement period.
5. Security Deposit Handling: Security deposits are held and can be used to cover unpaid tenant obligations.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Current Auto provides long-term vehicle rental services in Latvia with a minimum rental term of 18 months, allowing customers to choose from a catalog of partner-dealer vehicles or bring their own found vehicle for rental arrangement. Customers complete an online application with a 30-minute approval response, finalize contracts in person at Riga offices, and have the option to purchase the vehicle after the minimum term. The service includes CSDD registration assistance, OCTA and KASKO insurance, and GPS-tracked vehicles for security.

Product overview

Current Auto is a Latvian long-term car rental and sales company operating under a single unified platform. The core offering is the Long-term Car Rental service (minimum 18 months), which allows customers to rent vehicles from a catalog or bring their own found vehicle, with the option to purchase the car after the rental period. Supporting the rental service is an Online Payment Portal for managing monthly payments, and the company also provides direct Car Sales. The company collaborates with 25 auto dealers across Latvia to expand their vehicle offerings. The platform is primarily web-based with customer portal access for login and registration.

Differentiator

Problem solved

Functional benefit

Products and services

• Current Auto Long-term Car Rental Long-term vehicle rental service for individual consumers (physical persons) and legal entities in Latvia, with a minimum rental term of 18 months. Customers can select a vehicle from the catalog or bring their own found vehicle, complete an online application, receive approval within 30 minutes, and finalize the rental contract at a Riga customer service center. Includes vehicle delivery, insurance, registration assistance, and optional buyout at the end of the minimum term.
• Current Auto Car Sales (Buyout / Vehicle Purchase) Vehicle sales service allowing customers to purchase vehicles either by buying out the vehicle they have been renting after the minimum rental term or by purchasing a different car from Current Auto's 25 partner auto dealers in Latvia. A separate buyout agreement is signed for the purchase.
• Online Payment Portal Web-based payment system (www.current.lv/maksajums) that allows customers to make monthly rental payments online by selecting their bank. Supports payments via Paysera and Industra Bank AS, with the contract number or personal code used as the payment reference.
• Vehicle Catalog Online catalog of 57+ vehicles available for rental, featuring brands such as Audi, Volvo, Volkswagen, BMW, Opel, Mercedes, Mazda, Kawasaki, Toyota, Kia, Skoda, Ford, Dodge, Honda, and Citroen. Customers can filter by body type, engine type, transmission, and price. Vehicles are sourced through Current Auto's 25 partner auto dealers across Latvia.

Quantifiable outcome

• Vehicle delivery within 1 business day
• +1 more outcomes

Named customers5 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature2 records

Partnerships

Six partnerships are on record, tiered core.

• Re AutocoreChannel Partner/ Reseller/ DistributorAuto dealer partner in Latvia; one of 25 partner dealers providing vehicle offerings to Current Auto customers.
• Car MobilecoreChannel Partner/ Reseller/ DistributorAuto dealer partner in Latvia; one of 25 partner dealers providing vehicle offerings to Current Auto customers.
• Auto KomplekscoreChannel Partner/ Reseller/ DistributorAuto dealer partner in Latvia; one of 25 partner dealers providing vehicle offerings to Current Auto customers.
• Manslizings.lvcoreChannel Partner/ Reseller/ DistributorAuto dealer partner in Latvia; one of 25 partner dealers providing vehicle offerings to Current Auto customers.
• Auto CapitalcoreChannel Partner/ Reseller/ DistributorAuto dealer partner in Latvia; one of 25 partner dealers providing vehicle offerings to Current Auto customers.
• 25 Auto Dealers in LatviacoreChannel Partner/ Reseller/ DistributorCurrent Auto partners with 25 auto dealers across Latvia to provide customers with the best vehicle selection and offerings.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• LeasePlan: One of the world's largest vehicle leasing and fleet management companies, with personal leasing offerings across European markets including the Baltics. Provides a reference point for the consumer long-term-lease category Current Auto competes in, but at vastly greater scale.
• ALD Automotive: Global vehicle leasing and fleet management company owned by Société Générale. Comparable long-term personal leasing and operational leasing offerings, though at much larger scale and broader (corporate + consumer) customer base.

Direct peers

• MOGO: Latvian-headquartered used-vehicle leasing company offering long-term personal lease and subscription-like contracts to consumers. MOGO is also listed as a financial partner of Current Auto, making it both a competitor and a channel — directly comparable in customer, term length, and geography.
• Elizings.lv: Latvian consumer vehicle leasing marketplace and lessor. Comparable target customer and product type; listed as a Current Auto financial partner, so is also an adjacent channel.
• Holm Bank Latvia: Latvian bank with consumer hire-purchase and vehicle leasing products aimed at private customers. Competes for the same end customer as Current Auto's long-term rental-then-buy offering.
• Nord Līzings: One of Latvia's established consumer and corporate vehicle leasing providers. Listed as a Current Auto financial partner, and competes directly for the same long-term personal lease customer with similar monthly-payment structures.
• Inbank Latvia (SIA Inbank Latvia): Consumer finance and leasing arm in Latvia offering vehicle leasing products to individuals. Directly comparable product (monthly lease payments, personal contract hire) and overlapping customer segment.
• Primero Finance: Latvian consumer and vehicle finance provider offering personal leasing and loan products. Comparable monthly-payment leasing model for individual car buyers.

Emerging players

• Drover: UK-based long-term car subscription service for private customers with monthly all-inclusive payments. Highly comparable product design (subscription, monthly fees, flexible term) and serves as a benchmark for the model Current Auto operates.
• Cluno: German all-inclusive car subscription platform with monthly fees, insurance bundled, and flexible cancellation. A direct product analogue to Current Auto's subscription model, though operating in a different geography (DACH) and at a more mature stage.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/current-auto

Compliance1 record

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 Current Auto