OLX Group becomes the sole shareholder of the company, which will be led by the current management team, with Anca Bidian continuing as the CEO of KIWI Finance. The transaction represents an important milestone in the development of OLX Group, by adding financing related services to its portfolio in Romania.
With the new shareholder’s support, KIWI Finance intends to accelerate its digital transformation while maintaining the same general growth objectives as before the transaction: national geographical expansion of its operations, streamlining operational processes and expanding the network of financial partners. KIWI Finance had a solid performance in the first ten months of this year, with a 19% increase in turnover over the same period last year. Building on this solid performance, the management teams of OLX Group and KIWI Finance will work closely together in the coming months to identify common areas for development.
We are excited to announce that the transaction has been successfully completed and we are certain that we have the ideal partner on board in this new journey. The acquisition of KIWI Finance comes as a result of OLX Group’s trust in the growth prospects of the Romanian market and we are looking with great confidence at this partnership that will help us develop and expand our proposition in the financing area
said Monika Rudnicka, General Manager Real Estate Europe, OLX Group.
We’re taking a new step in developing KIWI Finance’s services through an accelerated digital transformation, the expansion of our network of brokers and through extended bank partnerships. We’re very confident OLX Group is the best partner in developing the loan brokerage industry in Romania. With a maturing bank industry and clients that are becoming more and more sophisticated, KIWI Finance positions itself as a financial solutions integrator for the real estate market and for any other financial needs. The 26% increase in loans intermediated by the company in comparison to the same period last year shows us the sustainability and attractiveness of the real estate market in Romania, as well as the consistency and the countercyclical power of KIWI Finance in an unusual year for all of us. I want to thank ORESA for a fair and successful 13 year partnership and am excited to embark on a new growth journey with the strong and representative OLX Group
says Anca Bidian, CEO of KIWI Finance.
The strengths of KIWI Finance – the network of brokers, their partnerships and collaboration with financial institutions and real estate developers – can be enhanced by the online presence and digital skills of OLX Group. We thank CEO Anca Bidian and her team for their extraordinary work over the years and we wish them great success in taking KIWI Finance to the next stage together with their new shareholders
said Cornel Marian, ORESA partner.
About KIWI Finance
KIWI Finance is the largest credit broker in Romania, founded by Anca Bidian in 2003. In 2007, Swedish investment fund ORESA, became the main shareholder of the company. In over 17 years of market presence, KIWI Finance intermediated loans of over 1,35 billion EUR. Currently, the company is active in 35 cities across the country, where it collaborates with over 200 brokers to find the best lending offers for its clients.
About OLX Group
OLX Group operates the fastest-growing network of trading platforms globally, serving more than 300 million people every month in 30+ countries around the world, helping them buy and sell cars, find housing, get jobs, buy and sell household goods, and much more. With more than 20 well-loved local brands including Avito, OLX, Autovit.ro and Property24, the Group’s solutions are built to be safe, smart, and convenient for its customers. OLX Group is a division of Prosus, a global consumer internet group and one of the largest technology investors in the world.
About OLX Group in Romania
In Romania, the group has a team of over 100 employees working for OLX, Storia.ro and Autovit.ro. OLX is a leading generalist classifieds platform, with over 4 million active ads and an average of over 12 million monthly visitors. Storia.ro is a dedicated real estate platform with over 200,000 ads and is used every month by almost 2 million people looking for a new home. Autovit.ro is a leading online platform in Romania dedicated to selling and buying new and second-hand cars and is accessed monthly by over 3 million users and 1.000 professional auto dealers.
ORESA is a family-owned equity investment company with Swedish roots, active in Romania since 1997. ORESA’s investment strategy is to develop, together with strong entrepreneurs and management teams, market leading companies in sectors such as business services, financial services, construction materials, FMCG or retail & distribution. ORESA’s current portfolio include La Fantana and Romanian Business Consult, two companies that are market leaders in their sectors. In the past, ORESA held ownership in companies such as Fabryo-Atlas, Somaco, Duraziv, Motoractive, Credisson, Flanco, Brewery Holding (Ciuc) and Medicover.