DelfinGroup has signed a new credit line agreement with Multitude Bank p.l.c. for 12.5 million euro with a term of 3.5 years. The cooperation between the two companies has already been established in previous years, with a first credit line agreement for 11 million euro signed in 2023. Now, with the increase of the total available financing to 23.5 million euro, the parties are taking the next step in a long-term partnership built on a proven track record and shared growth objectives.
The attracted financing is another targeted step in DelfinGroup development strategy, which envisages gradual growth of the company both in the Latvian and international markets. The credit line from Multitude Bank will be used to expand the company's lending portfolio, responsibly matching the amount of funds with business needs and demand for available loans.
"Multitude Bank decision to expand our cooperation is a significant vote of confidence in our company's development direction and long-term vision. It allows us to move even more purposefully towards our business goals. We plan to use the financing gradually, adapting it to the market situation and at the same time maintaining the company's financial stability," says Andrejs Aleksandrovics, CFO of DelfinGroup.
DelfinGroup continues to provide a diversified financing structure, combining several sources of capital. Together with the Multitude Bank credit facility, the company's financing structure includes five bond issues, three commercial banks and a P2P investment platform. This approach gives the company flexibility and the ability to adapt to different market cycles while maintaining investor confidence.
About DelfinGroup
DelfinGroup is a licensed Latvian fintech company founded in 2009 and operating under the Banknote and VIZIA brands. The Company has been profitable every year since 2010. DelfinGroup continuously develops and offers consumer loans, loans for seniors, buy now, pay later loans, pawn loans and sales of pre-owned, little used and new goods in almost 90 branches in Latvian and Lithuania, as well as online. 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 pays regular quarterly dividends. The sustainability of DelfinGroup is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion, and facilitating the circular economy.
Arturs Dreimanis
DelfinGroup Head of Treasury and Investor Relations
Phone: +371 26189988
E-mail: IR@delfingroup.lv
