After a year of meticulous effort Bondora acquired a consumer lending licence in Latvia.
The Latvian supervising institution for consumer lending has developed a very strict approach to what terms and conditions could be permitted in consumer lending businesses. No consumer lending licence has been issued for a couple of years in a row, and Bondora is one of the few businesses that has successfully complied with the requirements and has received the licence.
Bondora is an Estonian based company that has been operating since 2008 and is one of the leading non-bank digital consumer loan providers in Continental Europe. The consumer loans that Bondora offers are marketed in Finland, Spain, Latvia and Estonia through a fully digital process, supported by advanced credit analytics and in-house servicing.
TGS Baltic team assisted the client with the documentation and during the negotiation process with the supervising institution.
Partner Inese Hazenfusa led the project team consisting of associates Mārtiņš Galzons and Ilga Vaļko.
