Accession Mezzanine Capital III L.P., advised by Mezzanine Management, recently completed a growth capital investment, with total commitment of EUR 23.3 million in mezzanine debt, into Mogo Finance, a leading non-bank car financing firm in the wider Central and Eastern European region.
Headquartered in Riga, Mogo Finance provides non-bank car financing for consumers in the Baltic region and Georgia and employs 200 people. Its current loan portfolio amounts to EUR 38 million, financing 20,000 cars. The firm presently has operations in Latvia, Lithuania, Estonia and Georgia and will use the new funds to develop the company’s operations in existing markets and other countries within the Central and Eastern European region.