Signet Bank provides support for the placement of bonds of a financial technology company, Sun Finance, on the Nasdaq Riga Baltic First North bond list. First North is a multilateral trading facility (MTF) tailored to support growing ambitious companies that want to raise capital and get the visibility and credibility of being a public company.
Going public not only requires high corporate governance standards but also great ambition. We take pride in the young generation of Latvian entrepreneurs who are willing to join the market to diversify their sources of funding. It is an important milestone for our capital market and will inspire other Baltic companies.
Roberts Idelsons, Chairman of the Board at Signet Bank
We are delighted that Sun Finance has chosen to list its bonds on the Nasdaq Baltic First North market and welcome the company to the exchange as a new issuer. It is particularly pleasing to see a new-generation Latvian company make use of the opportunities First North offers to pursue its business objectives and put the company in the public spotlight. We look forward to supporting them on their growth journey.
Daiga Auziņa-Melalksne, the CEO of Nasdaq Riga and Head of the Nasdaq Baltic Market
In the little more than four years since Sun Finance’s founding, we have seen thrilling growth, shown by a team of now over 1,000 people on three continents and the recent milestone of exceeding 1 billion euros in loans to our customers. We are maintaining our focus and, with the growing need for flexible, accessible and online financing tools globally, we look forward to continuing to grow both horizontally by entering new countries and vertically by developing new products. The inclusion of Sun Finance’s bonds on the Nasdaq Baltic First North market allows a wider range of investors to take part in our success story, which we aim to continue for the long term.
Toms Jurjevs, the CEO and founder of Sun Finance
The value of the loans issued by Sun Finance in the four years since it began activities reached EUR 1 billion in July 2021. The Financial Times has taken note of the company’s success. The UK-based newspaper this year ranked Sun Finance as the second fastest growing company in Europe. It was the first time a company from Latvia made it into even the top 50 on the annual FT list of Europe’s fastest growing companies.
About Sun Finance
Sun Finance Treasury Limited is subsidiary of Sun Finance Group, AS. Sun Finance is a financial technology company established in Riga, in 2017, by CEO Toms Jurjevs and co-founder Emīls Latkovskis. Sun Finance operates as an online consumer financing platform in seven countries on three continents, with headquarters in Riga, Latvia. Sun Finance has more than 6 million registered customers and employs more than 1000 people, 148 of whom work at the headquarters in Riga. The company is led by a team of seasoned professionals with more than 10 years of experience in managing FinTech, financial and IT companies.
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence.
About Signet Bank
The bank was founded in 1992 as Latvijas Biznesa banka. Since 2013, it has focused its strategy on servicing entrepreneurs and their businesses, with an emphasis on high-quality capital management and structuring financing projects. Signet Bank’s majority shareholders are a group of Latvian and international investors, which includes SIA Hansalink, AS RIT Group, and Signet Acquisition III.