Latvia-based P2P finishing platform Sun Finance surpassed the billion euro (around £851. 7 million) mark for total loans granted. The company is on track to end 2021 with €200 million in profits.
Created in January 2017, the Sun Finance platform has controlled the construction of its total loan volume year after year. The company distributed around 35 million euros in loans in 2017. The following year, in 2018, Sun Finance issued 130 million euros. in loans, and then said it lent 2. 2 times that amount in 2019 to 290 million euros.
Last year, Sun Finance surpassed the €300 million mark and in the first part of 2021, the company was able to provide €220 million in loans. An annual report of Sun Finance, published in 2020, shows that the company recorded a 20% year-on-year accumulate in its consolidated cash to 120 million euros, the unaudited effects of the firm for the first half of 2021 reveal that it will be able to close 2021 with a profit of more than 200 million euros.
As indicated through the company:
“The Group was founded through existing control in 2017. We have workplaces in 7 countries. Our main workplace is located in Riga, Latvia, providing a business environment conducive to monetary technologies, a proper legal setup, as well as a labor market saturated with experienced online loans.
In 2018 they attracted strategic investors, five countries and 1 million registered users. In 2019, its first tranche of bonds issued on the Nasdaq CSD, expanded to seven countries and claimed 2. 8 million registered users. In 2020, they issued a tranche of bonds through Nasdaq CSD and had 4. 3 million registered users.
Sun Finance now reports 5. 5 million registered customers, 9. 5 million credit programs since inception, one billion euros of loans issued, 7 countries served, 95 million euros of portfolio and more than 950 employees.
At Sun Finance, his vision is to “become an available and attractive one-stop shop for clients’ financing needs”. Its huge visitor base includes “those who have classically not had access to banking services and have not had access to financing from classic monetary establishments, as well as a convenient and quick option for others who prefer speed and accessibility to classic lenders. “
The company noted:
“We have developed complicated knowledge science models to identify visitor models in more than 4,000 to 7,000 knowledge topics that have been ignored by classical banks. Our goal is to foster monetary inclusion around the world, allowing anyone to get financing on any day of the week from anywhere in the world, requiring only access to the web.
The company is led by a team of experienced professionals with over 10 years of industry experience in control roles aimed at Fintech, finance and IT.