Mintos originator Zenka acquired by Sun Finance
Mintos originator Zenka has become part of Sun Finance, after the latter acquired a majority stake in the Kenyan lending company.
The European lending marketplace said that the rebrand will not impact its investors, as Sun Finance and Zenka notes will not change in any way. It said it will further update investors next week.
Founded in 2018, Zenka operates in Kenya and brands itself around delivering flexible financial solutions and meeting the diverse needs of its customers.
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“The acquisition of Zenka marks an important milestone for Sun Finance since it has allowed the company to expand its geographical footprint across a new continent,” said Toms Jurjevs, founder and chief executive of Sun Finance.
“The acquired company has been smoothly and seamlessly incorporated into the Sun Finance operational structure as a separate hub and, from now on, it will operate as an integral part of Sun Finance.”
As part of the acquisition, Sun Finance will maintain the Zenka brand name in the local market.
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Zenka will continue cooperating with Mintos by offering investors a chance to invest in loans issued in the Kenyan market.
The funding gained will be used to develop Zenka’s financial solutions further and grow its market share in Kenya.
Sun Finance also has brands listed on the Mintos platform operating in Latvia, Poland, Denmark, Kazakhstan, Mexico, and Vietnam.
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