Aigars Kesenfelds

Aigars Kesenfelds
Born (1983-11-03) November 3, 1983
Latvia
EducationStockholm School of Economics in Riga
Occupation(s)Entrepreneur, investor
Years active2008-present

Aigars Kesenfelds (born 2 November 1983) is a Latvian entrepreneur and investor, known for his contributions to the financial technology sector and various industries.[1] He is reported to be the owner of over 100 companies in Latvia,[2][3][4] main ultimate beneficiary in Sun Finance[5] and owns large majority of shares in peer-to-peer lending marketplace Mintos, Mogo and a 43% stake in the Luxembourg-registered Eleving Group.[6]

Aigars Kesenfelds is the Founder and Chairman of the Board of ALPPES Capital, a first-generation family office established in 2019 to consolidate family assets.[7][8][9]

Early life

Kesenfelds was born into a family of Latvian businessman Ivars Kesenfelds. At the age of 19, Kesenfelds managed a family-owned cinema in Liepāja, Latvia.[10][11][12] He later studied at the Stockholm School of Economics in Riga, where he co-founded the payday loan company 4Finance in 2008.[13]

Business ventures

In 2008, Kesenfelds co-founded 4Finance, a company specializing in short-term, high-interest loans under brands like Vivus.lv, SMSCredit.lv.[14][11][15] In 2011, 4Finance was sold to Russian billionaire Oleg Boyko for over €100 million.[15][16][17] After selling 4Finance, Kesenfelds diversified his investments, establishing or acquiring various companies across different countries.[18]

Kenya

In 2023, in Kenya, Sun Finance (where Kesenfelds is the main ultimate beneficiary) acquired a digital lending business Zenka Finance which offers a mobile loan app offering short-term, unsecured loans that are instantly disbursed via mobile money platforms such as M-Pesa.[19][20][21][22]

Monego in Kosovo

Kesenfelds founded Monego, a financial institution in Kosovo, operating over 30 branches and serving 80,000+ customers. In December 2019, the Central Bank of Kosovo revoked Monego’s license due to concerns over high-interest rates. Kesenfelds contested the decision through legal channels.[23]

Kredo in Albania

Kredo.al is a microcredit company operating in Albania since 2017 under the legal name ECFA. The company is 95.4% owned by AS Eleving Consumer Finance Holding.[24][25][26]

Investment activities

In 2022, he co-founded an investment firm, Merito Partners, where he is a majority shareholder.[27]

Personal life

Kesenfelds maintains a low public profile, rarely engaging with the media. However, he has made public statements regarding Monego’s license revocation in Kosovo.[28]

References

  1. ^ "Aigars Kesenfelds, Merito Partners Sia: Profile and Biography". Bloomberg.com. Retrieved 2025-01-22.
  2. ^ "Kesenfelds Aigars | B2BHint". Kesenfelds Aigars | B2BHint. Retrieved 2025-01-22.
  3. ^ "Re:Baltica profiles little-known Latvian entrepreneur, one of country's richest individuals". eng.lsm.lv. Retrieved 2025-01-22.
  4. ^ "Aigars Kesenfelds – patiesais labuma guvējs vairāk nekā 100 uzņēmumos". blog.lursoft.lv (in Latvian). Retrieved 2025-01-22.
  5. ^ "AS SUN FINANCE GROUP Consolidated financial statements as at and for the year ended" (PDF). 31 December 2023.
  6. ^ "Eleving - Prospectus dated 20 September 2024" (PDF).
  7. ^ "Management". Alppes. Retrieved 2025-03-09.
  8. ^ "Investment portfolio". Alppes. Retrieved 2025-03-09.
  9. ^ "DelfinGroup share offer attracts more than 1000 investors with total demand over 9 million euros". Nasdaq Company News. Retrieved 2025-05-09.
  10. ^ "Ātrais miljonārs Aigars Kesenfelds". liepajniekiem.lv (in Latvian). Retrieved 2025-05-09.
  11. ^ a b "Pazīstams uzņēmējs no Latvijas, iespējams, bijis saistīts ar vietni, kurā zaudējuši naudu Krievijas iedzīvotāji". www.lsm.lv (in Latvian). Retrieved 2025-05-09.
  12. ^ "The quick loan trap". www.baltictimes.com. Retrieved 2025-05-09.
  13. ^ "The key rate: billionaire Oleg Boyko nurturing plans for a global fintech leader - Finstar Financial Group". Finstar Financial Group - Finstar Financial Group. 2018-03-02. Archived from the original on 2025-05-11. Retrieved 2025-05-11.
  14. ^ "Experiences of Aigars Kesenfelds: Current and past positions - MarketScreener". uk.marketscreener.com. Retrieved 2025-01-22.
  15. ^ a b "Offshore files reveal political ties to payday lending giant". eng.lsm.lv. Retrieved 2025-05-11.
  16. ^ Geopost, The (2022-01-20). "The "King" of Quick Loans". The Geopost. Retrieved 2025-01-22.
  17. ^ "Sanctioned Russian oligarch benefits from fast loans in North Macedonia". Telegrafi. 2023-06-23. Retrieved 2025-01-22.
  18. ^ "Ātrais miljonārs" [Quick Millionaire]. Nozares (in Latvian). 2021-02-04. Retrieved 2025-05-11.
  19. ^ Njanja, Annie (2022-03-24). "Digital lenders in Kenya must disclose source of funds as new law takes effect". TechCrunch. Retrieved 2025-01-22.
  20. ^ "Zenka Finance company information, funding & investors". ecosystem.brnoregion.com. Retrieved 2025-01-22.
  21. ^ "AS SUN FINANCE GROUP Consolidated financial statements" (PDF). nasdaqbaltic.
  22. ^ "Sun Finance acquires AS Zenka Group and expands into Africa". Nasdaq Company News. Retrieved 2025-05-09.
  23. ^ "Kesenfelds from Monego: The decision to withdraw the license was unexpected, we did not receive a warning from CBK". Telegrafi. 2020-01-14. Retrieved 2025-01-22.
  24. ^ "E denoncuar për zhvatje dhe nën hetim nga SPAK/ "Kredo.al", 9 mln euro fitim në 2023". DOSJA.AL. 2024-08-26. Retrieved 2025-05-09.
  25. ^ "Kredo Finance (ish "Mondo Finance")". opencorporates.al. Retrieved 2025-05-09.
  26. ^ ""Mora kredi për varrin e nënës", skandali në Shqipëri oligarku rus që fshihet pas "Iute Credit" dhe "Kredo.al"". Vox News. Retrieved 2025-05-09.
  27. ^ "'Meritocratic' Latvian investment company targets New Nordic opportunities". eng.lsm.lv. Retrieved 2025-05-09.
  28. ^ "The payday loan millionaire | Re:Baltica". Retrieved 2025-01-22.
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