Accession Mezzanine Capital III L.P. has invested EUR 23.3 million in mezzanine debt in Mogo Finance, a leading non-bank car financing firm in the Baltic region, to support the company's growth and expansion efforts.
Information on the Target
Mogo Finance is a prominent non-bank car financing company headquartered in Riga, Latvia. With a dedicated workforce of 200 employees, this firm specializes in providing financing solutions to consumers across the Baltic region and Georgia. As of now, Mogo Finance boasts a loan portfolio valued at EUR 38 million, which supports the acquisition of approximately 20,000 cars.
The company has established operational bases in Latvia, Lithuania, Estonia, and Georgia, utilizing its expertise to meet the growing demand for non-bank financing in the automotive sector. The recent commitment of EUR 23.3 million in mezzanine debt aims to bolster its position in existing markets and facilitate expansion into additional countries within the Central and Eastern European region.
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Industry Overview in the Target's Specific Country
The car financing industry in the Baltic region has seen significant growth, driven by increased consumer demand and a favorable regulatory environment. As traditional banking institutions
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Accession Mezzanine Capital III L.P.
invested in
Mogo Finance
in 2023
in a Growth Equity & Expansion Capital deal
Disclosed details
Transaction Size: $26M
Enterprise Value: $41M