Aigars Kesenfelds

Aigars Kesenfelds
Born	(1983-11-03) November 3, 1983 (age 41) Latvia
Education	Stockholm School of Economics in Riga
Occupation(s)	Entrepreneur, investor
Years active	2008-present

Aigars Kesenfelds (born 2 November 1983) is a Latvian entrepreneur and investor, known for his contributions to the financial technology sector and various industries. ^[1] He is reported to be the owner of over 100 companies in Latvia, ^{[2] [3] [4]} main ultimate beneficiary in Sun Finance ^[5] and owns large majority of shares in peer-to-peer lending marketplace Mintos, Mogo and a 43% stake in the Luxembourg-registered Eleving Group. ^[6]

Aigars Kesenfelds is the Founder and Chairman of the Board of ALPPES Capital, a first-generation family office established in 2019 to consolidate family assets. ^{[7] [8] [9]}

Early life

Kesenfelds was born into a family of Latvian businessman Ivars Kesenfelds. At the age of 19, Kesenfelds managed a family-owned cinema in Liepāja, Latvia. ^{[10] [11] [12]} He later studied at the Stockholm School of Economics in Riga, where he co-founded the payday loan company 4Finance in 2008. ^[13]

Business ventures

In 2008, Kesenfelds co-founded 4Finance, a company specializing in short-term, high-interest loans under brands like Vivus.lv, SMSCredit.lv. ^{[14] [11] [15]} In 2011, 4Finance was sold to Russian billionaire Oleg Boyko for over €100 million. ^{[15] [16] [17]} After selling 4Finance, Kesenfelds diversified his investments, establishing or acquiring various companies across different countries. ^[18]

Kenya

In 2023, in Kenya, Sun Finance (where Kesenfelds is the main ultimate beneficiary) acquired a digital lending business Zenka Finance which offers a mobile loan app offering short-term, unsecured loans that are instantly disbursed via mobile money platforms such as M-Pesa. ^{[19] [20] [21] [22]}

Monego in Kosovo

Kesenfelds founded Monego, a financial institution in Kosovo, operating over 30 branches and serving 80,000+ customers. In December 2019, the Central Bank of Kosovo revoked Monego’s license due to concerns over high-interest rates. Kesenfelds contested the decision through legal channels. ^[23]

Kredo in Albania

Kredo.al is a microcredit company operating in Albania since 2017 under the legal name ECFA. The company is 95.4% owned by AS Eleving Consumer Finance Holding. ^{[24] [25] [26]}

Investment activities

In 2022, he co-founded an investment firm, Merito Partners, where he is a majority shareholder. ^[27]

Personal life

Kesenfelds maintains a low public profile, rarely engaging with the media. However, he has made public statements regarding Monego’s license revocation in Kosovo. ^[28]

References

1. "Aigars Kesenfelds, Merito Partners Sia: Profile and Biography". Bloomberg.com. Retrieved 2025-01-22.
2. "Kesenfelds Aigars | B2BHint". Kesenfelds Aigars | B2BHint. Retrieved 2025-01-22.
3. "Re:Baltica profiles little-known Latvian entrepreneur, one of country's richest individuals". eng.lsm.lv. Retrieved 2025-01-22.
4. "Aigars Kesenfelds – patiesais labuma guvējs vairāk nekā 100 uzņēmumos". blog.lursoft.lv (in Latvian). Retrieved 2025-01-22.
5. "AS SUN FINANCE GROUP Consolidated financial statements as at and for the year ended" (PDF). 31 December 2023.
6. "Eleving - Prospectus dated 20 September 2024" (PDF).
7. "Management". Alppes. Retrieved 2025-03-09.
8. "Investment portfolio". Alppes. Retrieved 2025-03-09.
9. "DelfinGroup share offer attracts more than 1000 investors with total demand over 9 million euros". Nasdaq Company News. Retrieved 2025-05-09.
10. "Ātrais miljonārs Aigars Kesenfelds". liepajniekiem.lv (in Latvian). Retrieved 2025-05-09.
11. "Pazīstams uzņēmējs no Latvijas, iespējams, bijis saistīts ar vietni, kurā zaudējuši naudu Krievijas iedzīvotāji". www.lsm.lv (in Latvian). Retrieved 2025-05-09.
12. "The quick loan trap". www.baltictimes.com. Retrieved 2025-05-09.
13. "The key rate: billionaire Oleg Boyko nurturing plans for a global fintech leader - Finstar Financial Group". Finstar Financial Group - Finstar Financial Group. 2018-03-02. Archived from the original on 2025-05-11. Retrieved 2025-05-11.
14. "Experiences of Aigars Kesenfelds: Current and past positions - MarketScreener". uk.marketscreener.com. Retrieved 2025-01-22.
15. "Offshore files reveal political ties to payday lending giant". eng.lsm.lv. Retrieved 2025-05-11.
16. Geopost, The (2022-01-20). "The "King" of Quick Loans". The Geopost. Retrieved 2025-01-22.
17. "Sanctioned Russian oligarch benefits from fast loans in North Macedonia". Telegrafi. 2023-06-23. Retrieved 2025-01-22.
18. "Ātrais miljonārs" [Quick Millionaire]. Nozares (in Latvian). 2021-02-04. Retrieved 2025-05-11.
19. Njanja, Annie (2022-03-24). "Digital lenders in Kenya must disclose source of funds as new law takes effect". TechCrunch. Retrieved 2025-01-22.
20. "Zenka Finance company information, funding & investors". ecosystem.brnoregion.com. Retrieved 2025-01-22.
21. "AS SUN FINANCE GROUP Consolidated financial statements" (PDF). nasdaqbaltic.
22. "Sun Finance acquires AS Zenka Group and expands into Africa". Nasdaq Company News. Retrieved 2025-05-09.
23. "Kesenfelds from Monego: The decision to withdraw the license was unexpected, we did not receive a warning from CBK". Telegrafi. 2020-01-14. Retrieved 2025-01-22.
24. "E denoncuar për zhvatje dhe nën hetim nga SPAK/ "Kredo.al", 9 mln euro fitim në 2023". DOSJA.AL. 2024-08-26. Retrieved 2025-05-09.
25. "Kredo Finance (ish "Mondo Finance")". opencorporates.al. Retrieved 2025-05-09.
26. ""Mora kredi për varrin e nënës", skandali në Shqipëri oligarku rus që fshihet pas "Iute Credit" dhe "Kredo.al"". Vox News. Retrieved 2025-05-09.
27. "'Meritocratic' Latvian investment company targets New Nordic opportunities". eng.lsm.lv. Retrieved 2025-05-09.
28. "The payday loan millionaire | Re:Baltica" . Retrieved 2025-01-22.