A record-breaking year for the Inbank Group
Thanks to a strategic focus and innovative financial products, the Inbank Group achieved a record €715 million in sales in 2024—an increase of 4% compared to the previous year. The strongest growth was seen in auto financing, which surged by 43%, reaching €350 million.
Inbank continued to strengthen its partnerships with merchants and service providers, making it easier and more convenient for customers to access financing and payment options directly at the point of sale.
By the end of 2024, the Group’s total loan and lease portfolio had grown to €1.15 billion—an 11% increase year-on-year. This highlights Inbank’s ability to scale its services sustainably and maintain steady growth across the Baltics, Central and Eastern Europe.
Inbank Latvia sees growth in partners and product innovation
Inbank Latvia’s loan portfolio grew by 8.5% in 2024, reflecting strong demand and consistent performance across its financial solutions.
Sales growth was primarily driven by a 29% increase in hire purchase and Buy Now, Pay Later solutions. This was made possible through a targeted approach to attracting new partners and activating existing ones. As a result, the number of active partners rose by 53% in 2024, further strengthening Inbank Latvia’s leading position in the instalment financing segment.
Auto financing also saw impressive results, with sales increasing by 22.1%, reaffirming both customer and car dealer confidence in the financing options offered by Inbank Latvia.
In addition, a new service—Smart Rent—was successfully launched in 2024, offering customers a rental-based alternative to ownership. The solution has been well-received and is currently available for products such as smartphones, tablets, laptops, and smartwatches.
“E-commerce is one of the fastest-growing segments, and we’re seeing our technology platform play an increasingly vital role in the daily operations of both merchants and customers. By continuously improving our digital solutions, we've made our financing options even faster, more seamless, and accessible to a wider network of partners. As a result, transactions via our partners grew by 65%. These outcomes show that customers and partners truly value the flexibility and simplicity our solutions provide. We will keep innovating to support this growth,”says Dainis Skrinda, Head of Inbank Latvia.
Investing in innovation and capital for future growth
To support long-term, sustainable growth and new financial innovations, Inbank took several strategic steps in 2024. One of the most notable was a €147 million deal with the European Investment Bank (EIB), enabling Inbank to attract additional funding for development and new product launches.
This investment, combined with steady business growth, lays a strong foundation for continued expansion in 2025, as the Inbank Group plans to grow its partner network and bring innovative financial solutions to more customers across the Baltics and Central and Eastern Europe.
About Inbank Group
Inbank is a financial technology company with an EU banking licence, offering modern and accessible financing solutions. The company specialises in embedded finance and works with more than 6,000 merchant partners across Europe. Inbank is currently active in 7 countries and manages over 872,000 active contracts. Its bonds are listed on the Nasdaq Tallinn Stock Exchange.
