Eleving Group: Sustained Growth and Successful IPO

Eleving Group S.A. reported strong financial results for the first nine months of 2024, driven by its record-setting IPO on Nasdaq Riga. Revenues rose to EUR 157.9 million, increasing by nearly 17% compared to the previous year. The Group's diverse product portfolio contributed with notable increases in both flexible product and traditional vehicle financing revenues.

The IPO raised EUR 29 million, with a post-IPO valuation of EUR 199 million. Institutional and retail investors in the Baltics and Western Europe showed significant interest. The Group saw a 26% increase in loan issuances, largely due to organic demand and digital sales channel expansion.

Eleving's venture into electric mobility in Africa, particularly e-motorcycle financing, marks a key milestone. The company ranked as the 41st fastest-growing European company, underscoring its robust expansion strategy. Looking forward, Eleving focuses on debt diversification and digitalization to sustain growth.