Mogo Finance

Name

Mogo Finance

Legal name

AS mogo

Website

https://mogo.lv

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

51–100 employees

Short description

Mogo Finance is a Latvian non-bank consumer and vehicle financing provider, offering auto leasing, auto credit, consumer loans, and loans against vehicles, serving individual consumers and small businesses through digital channels and a 50+ auto dealer partner network.

Ownership category

akta.pro rank

Headquarters

HQ city

Riga

HQ country

Latvia

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Consumer Lending: Personal loans ranging from 100€ to 20,000€ for various purposes including home improvements, travel, medical expenses, and other consumer needs. Interest and fees charged on outstanding loan balances.
2. Auto Leasing: Financing for new and used vehicle purchases up to 25,000€ for individuals. Vehicle serves as collateral with 10% down payment required.
3. Auto Credit: Direct vehicle financing up to 20,000€ without down payment requirement. Vehicle becomes borrower's property immediately.
4. Loan Against Vehicle: Secured loans up to 25,000€ or 100% of vehicle value using borrower's car as collateral while allowing continued vehicle use.
5. Business Auto Leasing: Commercial vehicle financing for legal entities up to 100,000€ with 10% down payment and no mandatory CASCO insurance.
6. Additional Loans: Supplementary lending to existing Mogo customers up to 15,000€ with no origination fee and online processing.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Mogo is a Latvian non-bank financial services company that provides consumer credit, auto leasing, auto credit, loans against vehicles, and business auto leasing. Customers apply online, receive a proposal in 2 minutes, sign contracts digitally via Smart-ID or at partner locations, and obtain funds in their bank account within 15 minutes. The full digital process is supported by the MyMogo self-service portal and mobile application.

Product overview

Mogo Finance operates as a non-bank financial services company offering a comprehensive suite of vehicle financing and personal lending products. The core product portfolio includes auto leasing (for new/used vehicles up to 25,000€), auto credit (direct vehicle financing up to 20,000€), consumer credit (100€ to 20,000€ for various personal needs), loans against vehicle collateral (up to 100% of vehicle value), and dedicated business auto leasing for companies (up to 100,000€). Additional offerings include quick credit products and top-up loans for existing customers. All products are supported by the MyMogo customer portal and mobile application, enabling online applications, digital contract signing via Smart-ID/eParaksts, and convenient payment management.

Differentiator

Problem solved

Functional benefit

Products and services

• Auto līzings (Auto Leasing) Vehicle financing for new or used vehicles up to EUR 25,000 with terms up to 7 years. The vehicle serves as collateral until contract completion, with Mogo retaining ownership until final payment. Requires 10% down payment and includes free application review and vehicle evaluation.
• Auto kredīts (Auto Credit) Direct vehicle financing up to EUR 20,000 with no down payment required. Funds are transferred to the customer for vehicle acquisition and ownership transfers to the buyer immediately.
• Patēriņa kredīts (Consumer Credit) Unsecured personal loans from EUR 100 to EUR 20,000 for purposes such as home improvements, appliances, travel, medical expenses, or other personal needs. Terms up to 7 years. No bank statement required for amounts up to EUR 3,000-5,000.
• Aizdevums pret auto (Loan Against Vehicle) Secured loan up to EUR 25,000 or 100% of the vehicle's value using the borrower's car as collateral. The customer can continue driving the vehicle while the loan is outstanding. Funds available in account within 15 minutes.
• Papildu aizdevums (Additional Loan) Top-up financing for existing Mogo customers up to EUR 15,000 with no origination fee, processed online and disbursed within 15 minutes. Available to borrowers who already have a current Mogo loan.
• Ātrais kredīts (Quick Credit) Fast consumer credit product from EUR 100 to EUR 20,000 with commission-free expedited disbursement, designed for rapid application and approval.
• Auto līzings uzņēmumiem (Business Auto Leasing) Commercial vehicle financing for Latvian legal entities (businesses) up to EUR 100,000 with only 10% first payment, no mandatory KASKO insurance, and offer delivered within one business day.

Quantifiable outcome

• Proposals delivered in 2 minutes
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability1 record

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Auto Dealers (50+ partners)coreChannel Partner/ Reseller/ DistributorMogo partners with over 50 auto dealers across Latvia to provide in-store financing options for vehicle purchases. Partners receive free advertising placement on autotev.lv portal and earn commission bonuses for each financed vehicle. Customers can complete applications and sign contracts directly at partner locations.
• Eleving GroupcoreStrategic or Co-development PartnerEleving Group is the parent company of Mogo AS, registered in Luxembourg. The group includes AS Eleving Stella, AS mogo rent, and AS Primero Finance. Mogo operates as part of this financial services ecosystem providing vehicle and consumer financing solutions.
• Smart-ID / eParakstscoreTechnology or IntegrationDigital identity verification service used by Mogo customers to remotely sign financing contracts online, enabling fully digital application and contract completion process.
• AS Citadele BankaminorChannel Partner/ Reseller/ DistributorMogo's banking partner for payment processing. Customers use Neopay system for monthly bill payments. Bank account: LV05PARX0013561030001 at AS Citadele banka.
• AAS Balta (Insurance)minorChannel Partner/ Reseller/ DistributorInsurance partner providing OCTA (mandatory civil liability) and KASKO insurance policies for Mogo vehicle financing customers. Fixed OCTA rate of 228 EUR for passenger vehicles.
• CSDD (Road Traffic Safety Directorate)minorChannel Partner/ Reseller/ DistributorGovernment agency partnership for vehicle registration and ownership transfer services. Mogo operates a branch in the CSDD building at Bauskas iela 86 for customer convenience.
• Alternative Finance Partners (Sefinance, Altero, eLīzings, Autego Finance)minorChannel Partner/ Reseller/ DistributorWhen Mogo declines a financing application, customer data may be shared with alternative lenders including SIA Sefinance, SIA Altero, SIA eLīzings, and SIA Autego Finance to offer alternative financing solutions.
• Mogo Hockey Team / Optibet Hockey LigaminorGTM or Marketing PartnerMogo sponsors its own hockey team which competes in the Optibet Hockey Liga. The team has won championship titles for 3 consecutive years and plays home games at the Mogo Ice Hall, providing brand visibility and community engagement.
• autotev.lvminorChannel Partner/ Reseller/ DistributorVehicle sales portal where Mogo partner dealers can list vehicles for sale. Part of the dealer partnership program benefits.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• 4Finance: Latvia-headquartered online consumer lender operating across Europe; offers comparable unsecured consumer credit products at greater scale and broader geographic reach than Mogo.
• TF Bank: Nordic challenger bank with consumer lending operations across the Baltics; broader geographic and product reach than Mogo but directly comparable in consumer credit underwriting approach.
• Bigbank: Estonian bank with consumer and vehicle lending operations across the Baltics; competes with Mogo in cross-border Baltic lending with a broader product portfolio.
• Inbank: Estonian bank offering consumer finance and auto leasing across the Baltics; comparable business model in vehicle financing and consumer credit serving the same regional customer base.

Direct peers

• SIA Autego Finance: Latvian auto financing specialist; an alternative lender in Mogo's referral network competing for vehicle financing customers in Latvia.
• SIA Sefinance: Latvian alternative consumer/auto lender explicitly listed as a downstream recipient of Mogo's declined applications; competes directly for the same borrower pool in Latvia.
• SIA Altero: Latvian alternative financing platform listed alongside Mogo as an alternative lender for declined applicants; offers similar consumer and auto credit products in the same market.
• SIA eLīzings: Latvian leasing provider listed as a Mogo-declined-application recipient; competes head-to-head in vehicle leasing and consumer credit in Latvia.
• Creditstar Group: Estonian-headquartered European consumer lender; comparable unsecured consumer credit offering with similar digital distribution model in the Baltics and beyond.
• Bondora: Estonian-based online consumer lending platform operating in the Baltics; offers similar unsecured personal loans with digital onboarding comparable to Mogo's quick-credit products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/mogo.lv
• LinkedInlinkedin.com/company/as-mogo

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

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 Mogo Finance