Asset Backed Securities of Primero SV1

About company

Launched in 2019, Primero Finance is a used car financing company that focuses on near-prime customer base and holds a license for provision of consumer credit services.

The Group is based in Riga, Latvia and offers its clients consumer loans for car purchases, car leasing and leaseback (secured by cars) with a term up to 7 years and amounts up to EUR 25 000.

Primero works both in online and offline environment, as the Group has more than 200 partners, including not only used car dealers but also official new vehicle dealerships.

Signet Bank AS is the majority shareholder (51%) of Primero while minority is owned by AS Eleving Stella (49%), providing Primero with access to funding from the Bank and sector know-how and business infrastructure from Eleving Group.

Term Sheet

Additional information