Deloitte Romania assisted investment fund ACP Credit in granting a financing of 10 million euros to Mogo Romania

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Deloitte Romania assisted investment fund ACP Credit in granting a financing of 10 million euros to Mogo Romania, provider of vehicle financing services

28 May 2024

Deloitte Romania assisted the investment fund Accession Capital Partners (ACP) Credit, part of ACP Group, in granting a financing of 10 million euros to the provider of vehicle financing services Mogo Romania, the subsidiary of the Latvian fintech Eleving Group. The funds granted by ACP Credit will be used by Mogo Romania to refinance its liabilities and to grow its portfolio on the local car financing market.

”We are happy to partner up with Mogo in the growth of their business,” said Ciprian Nicolae, Partner, ACP Credit.

Deloitte Romania assisted ACP Credit with financial due diligence and risk advisory services. The financial advisors involved in the project were Radu Dumitrescu, Partner-in-Charge, Vlad Balan, Director, Ionut Vasilescu, Deputy Director, Sorin Rugina, Manager, and Iulia Georgescu and Sorin Vinatoru, Senior Associates. The team of risk advisory experts was made of Elena Grigore, Director, Gabriel Poliacov, Manager.

”We are honored to have been able to work with ACP Credit, after our assistance in their takeover of a minority stake in Medicales imaging clinics in 2023 by ACP Group. Our teams managed to contribute to the success of this project thanks to the high expertise in financial sector, to the efficient collaboration between our multidisciplinary experts, as well as to the constructive and constant communication between the parties involved in the transaction”, said Radu Dumitrescu, Financial Advisory Partner-in-Charge, Deloitte Romania.

ACP Credit is a direct lending fund focused on Central Eastern Europe, active since 2022, with current investments in Romania of 17 million euros. ACP Group, formerly known as Mezzanine Management, has been operating in Central and Eastern Europe since 2000 through its offices in Bucharest, Budapest, Prague Vienna, where it is headquartered, and in Warsaw. The fund is experienced in healthcare, with investments across CEE countries. It is present in Romania since 2007, with investments of 150 million euros. Its main sectors of interest in the Romanian market include healthcare, telecommunications, retail, agriculture and services.

Eleving Group, founded in 2012 under the name Mogo Finance, currently operates in 16 global markets and on three continents, offering financial services in the mobility and consumer segments.

Deloitte provides industry-leading audit and assurance, tax and legal, consulting, financial advisory, and risk advisory services to nearly 90% of the Fortune Global 500® and thousands of private companies. The firm’s professionals deliver measurable and lasting results that help reinforce public trust in capital markets, enable clients to transform and thrive, and lead the way toward a stronger economy, a more equitable society and a sustainable world. Building on its 175-plus year history, Deloitte spans more than 150 countries and territories. Its objective is to make an impact that matters through its 457,000 people worldwide.

Deloitte Romania is one of the leading professional services organizations in the country providing, in cooperation with Reff & Associates | Deloitte Legal, services in audit, tax, legal, consulting, financial advisory, risk advisory, business processes as well as technology services and other related services, through over 3,400 professionals.