TWINO Group has started October by reaching EUR 1 billion loans issued since its inception in 2009. Remarkably, half of the amount or EUR 500 million have been issued during the past three years, signaling growth of the company.
During the past 10 years under the leadership of Armands Broks TWINO Group has served over 1.5 million customers by offering various financial products in Poland, Russia, Georgia, Latvia, Kazakhstan and elsewhere. TWINO Investment Platform (www.twino.eu) launched in 2015 has now become one of the largest industry players in Continental Europe, funding loans worth over EUR 560 million.
“As the markets and technology evolve, we constantly develop and expand our product range to meet our customer changing needs and preferences. We plan to actively continue the started product range expansion, for example, the most recent addition to our products is loans to Small and Medium Enterprises in Latvia. As the next business development directions, we see geographical expansion to Asia, as well I see high potential in financing development projects in Latvia,” TWINO Group founder and owner A. Broks shares the plans for the company.
TWINO Group finished 2018 with its best financial results since company’s inception, with its consolidated net profit reaching EUR 9 million. Compared to 2017, Group’s turnover in 2018 increased by 157% reaching EUR 90 million. Group’s equity reached EUR 15 million and cash totaled EUR 8.1 million.
“Financial results of the past year show that the restructuring process started by the Group in 2017 with a goal to improve efficiency in operations product portfolio structure has brought the expected results in a very short time. Group’s long-term investment strategy execution was also started in 2019. We invest our resources not only in new business direction development, but also in strengthening our data science and IT competencies, with a goal to create the strongest team of financial technology experts in the region,” indicates TWINO Group CEO Anastasija Oleinika.