By continuing to ensure a diversified capital structure, Latvian fintech company DelfinGroup has raised 4.9 million euros in funding from AS Citadele banka. The term of the credit line facility agreement is two years.
"DelfinGroup has consistently shown solid business growth and has a strong focus on both corporate governance and diversification of funding. The choice of stable and cooperative financial partners is also important. For example, the financing raised this year from Citadele is an important strategic step that strengthens our capital structure. By attracting financing from a variety of sources, we are fostering long-term confidence from investors and partners while optimising costs and improving risk management," says Didzis Admidinš, Chairman of the Management Board of DelfinGroup.
"Currently, three banks provide our bank financing, and we are pleased that one of the largest Latvian banks - Citadele - appreciates DelfinGroup, sees us as a reliable cooperation partner and supports the company's further development. The financing will help to ensure more efficient cash management," continues Didzis Admidinš.
"The strategy of Citadele is to support local companies by providing financing and helping them to achieve both short and long-term goals while creating a good foundation for future growth and supporting the development of the Latvian economy," says Vaidas Žagunis, Head of Corporate Banking for the Baltics, Member of the Management Board of Citadele.
The company continues to diversify its funding sources including bonds, a P2P investment platform, bank financing and equity.
About DelfinGroup
AS DelfinGroup is a licenced fintech company established in 2009 and operates under the brand names Banknote and VIZIA. The company has been profitable every year since 2010. DelfinGroup continuously develops and offers consumer and pawn loans, loans developed for senior citizens, Buy now pay later loans (BNPL loans), and the sale of pre-owned goods online and at more than 90 branches across Latvia and Lithuania. Since 2014, DelfinGroup has been known on the Nasdaq Riga Stock Exchange as a bond issuer and, since 2021, as a listed company on the Baltic Main List. The company regularly pays dividends to its shareholders. The sustainability of DelfinGroup is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion, and facilitating the circular economy.
For further information, please contact:
Arturs Dreimanis
DelfinGroup Head of Treasury and Investor Relations
Phone: +371 26189988
E-mail: IR@delfingroup.lv
