User-friendly Online and Mobile Lending Platform Interview with Toms Jurjevs Founder and CEO of Sun Finance
Toms Jurjevs, the organizer and CEO of Sun Finance, Europe’s second quickest developing organization, says utilizing Sun Finance’s easy to use loaning stage is simpler than tracking down a date on Tinder. At 21, Toms began as the Regional Manager for an European fintech goliath, yet today he runs one of Europe’s driving loaning stages. Along with his group, he has planned a loaning stage that effectively works in eight nations across three mainlands, with plans to overcome the rest.User-friendly Online and Mobile Lending Platform Interview with Toms Jurjevs Founder and CEO of Sun Finance
You are the founder of Europe’s currently second fastest growing company. How did it all begin?
Everything began when I reached out to my coursemate Emīls Latkovskis, requesting that he come on board my undertaking. We assembled our group by moving toward individuals we trusted and set up Sun Finance in 2017, a Latvia-based monetary innovation organization that runs an on the web and versatile loaning stage.User-friendly Online and Mobile Lending Platform Interview with Toms Jurjevs Founder and CEO of Sun Finance.User-friendly
Since the second we sent off our tasks in Latvia, we realized we would seek after worldwide extension. We had planned a refined help with a critical spotlight on innovation and client experience. Not long after beginning, we sent off tasks in Denmark, trailed by Poland, Kazakhstan, Mexico, Vietnam and Sweden. That is the means by which an organization of two developed into the second quickest developing organization in Europe.User-friendly Online and Mobile Lending Platform Interview with Toms Jurjevs Founder and CEO of Sun Finance
How does Sun Finance decide which markets to penetrate?
Each market which our organization chooses to enter addresses an essential decision in view of nitty gritty examination. With regards to entering new business sectors, one single methodology isn’t practical. Prior to taking the action, we research the planned market completely to perceive how it lines up with our organization objectives as well as benefit from our past experience.User-friendly Online and Mobile Lending Platform Interview with Toms Jurjevs Founder and CEO of Sun Finance
What happens next?
There is consistently a method for being more brilliant than nearby players by applying the global gathering wide ability and removing a significant piece of the pie from the contenders. At the point when we set forth for Vietnam or Mexico, nations with a culture altogether different from that of Europe, we proceeded to select business advancement supervisors. Their occupation was to go around the two states and investigate their true capacity. These administrators inspected what could be accomplished in each market, took a gander at the nation’s legitimate and world of politics, and broke down the degree of rivalry there. This permitted us to make estimates for advancement and development, and execute our grid development system. Sun Finance grows both geologically and item shrewd. In the event that we spot an easy pickins, we pick it as fast as could be expected.
Being Europe’s second fastest-growing company, what is your competitive edge when entering a new market?
Tech assumes a significant part. Until now, we have put in excess of ten million euros in our IT frameworks. We have fostered a bleeding edge, information driven client hazard appraisal framework that permits us to evaluate a client’s reliability and credit term. These computations incorporate an extraordinary number of factors that are handled utilizing information science models. They bring about a client’s FICO assessment. This approach has demonstrated productive and successful, and we use it across the entirety of our business sectors.
Maybe I might be viewed as antiquated, however I truly do believe that it is more essential to remain lean and think business first as opposed to seeking after fasting development and extension. Hold organization to its essential least. Spend each euro as though it were your last.User-friendly Online and Mobile Lending Platform Interview with Toms Jurjevs Founder and CEO of Sun Finance
Fintech is seeing rapid growth around the world these days. How do you manage to stay ahead of the competition?
To start with, dissimilar to other industry players we are more ready to allow an opportunity to individuals who show the right disposition and potential-a CV doesn’t recount the entire story. Subsequently, we have many exceptionally youthful chief level supervisors and different experts. The normal age at our organizations is 31. We additionally need the fundamental individuals in the organization to feel like accomplices rather than just representatives, hence we furnish them with share choices to provide them with a feeling of organization possession.
Second, all our product is created in-house and uses the most recent innovation. It is intended to be really versatile and versatile to various topographies and items on our foundation. Also, with each next send off, the innovation propels, so we generally stay up with the latest.User-friendly Online and Mobile Lending Platform Interview with Toms Jurjevs Founder and CEO of Sun Finance
Concerning numerous Fintechs, our business depends on an easy to understand administration that drives the organization’s development and achievement. We have made applying for and getting an advance problem free and as simple as could be expected.User-friendly Online and Mobile Lending Platform Interview with Toms Jurjevs Founder and CEO of Sun Finance
How has Covid-19 impacted your business?
Coronavirus has progressively constrained individuals of all age gatherings to go to online administrations and items. When you go on the web, you don’t go disconnected any longer since you understand it is less difficult, more straightforward, more advantageous, and, generally speaking, a superior encounter.User-friendly Online and Mobile Lending Platform Interview with Toms Jurjevs Founder and CEO of Sun Finance
Since the start of the pandemic, we were very mindful of the way that buyer propensities would move, and individuals would utilize our administrations diversely and to various closures. However, the change in buyer propensities an affects our profits our clients have been entirely dependable with their monetary preparation during the pandemic.User-friendly Online and Mobile Lending Platform Interview with Toms Jurjevs Founder and CEO of Sun Finance
Aside from the many difficulties brought by the Covid pandemic, it has likewise sped up the shift from cash installments to computerized arrangements. To that end Sun Finance, and fintech at large, is turning out to be an ever increasing number of significant in the monetary administrations market.User-friendly Online and Mobile Lending Platform Interview with Toms Jurjevs Founder and CEO of Sun Finance
We see that Fintechs have been more dexterous than customary monetary establishments, particularly in conditions when individuals are expected to remain at home; they begin searching for remote devices. Accordingly, those organizations that have been quick at adjusting to the new reality have at the same time found a steppingstone for improvement. New arrangements are being created as we address supplant the administrations that can’t stay aware of the most recent market patterns.User-friendly Online and Mobile Lending Platform Interview with Toms Jurjevs Founder and CEO of Sun Finance
What are Sun Finance’s most recent achievements and what lies ahead?
In the beyond four years, Sun Finance has encountered predictable development. In 2017, our first year, we dispensed advances adding up to 35 million euros, yet today we dispense more than that in a month.User-friendly Online and Mobile Lending Platform Interview with Toms Jurjevs Founder and CEO of Sun Finance
Therefore, this mid year Sun Finance arrived at a huge achievement of 1 billion euros gave in credits. Furthermore, we arrived at this at the hour of the COVID-19 pandemic, and this is the place where our representatives merit a large part of the recognition for continually endeavoring to improve. However, we don’t mean to settle for the status quo, our medium-term objective is to become probably the most grounded unicorn in Europe. We plan to show up on our likely financial backers’ radar as Europe’s driving on the web and portable loan specialists.User-friendly Online and Mobile Lending Platform Interview with Toms Jurjevs Founder and CEO of Sun Finance