Mogo Romania announces team development perspectives for 2024
Mogo Romania, the fintech specialising in used car financing and a member of the international Eleving Group, announces its development plans for 2024. This year, the Romanian subsidiary reached a 13.1% share of the multinational company’s portfolio, with 7.9% profit growth in the first half of 2023 compared to the previous year. Given the steady development in the Romanian market, Mogo plans to expand its team in 2024 and will start an active recruitment process.
Mogo Romania currently has a team of 60 employees and aims to expand it this year. The team manages over 7.900 active clients and has 18.464 in its archive since its establishment in 2017. Over the years, the Romanian branch has performed remarkably well and gained the trust of its customers, satisfying the demand for car loans in the Romanian used car market. Mogo has also implemented several technologies that help streamline operations and reduce redundant activities so that employees can focus on professional development, strengthening customer relationships by providing personalised service.
„At Mogo, technology is part of our culture. The digitisation and automation of our processes is a top priority for us, as we aim to provide competitive financial services that meet European standards. Even though technology is an important pillar in our processes, human resources are the factor that accelerates the company’s development, which is why we are looking to expand our team. By combining these two elements, we can ensure the professional and personal development of the team by streamlining operations and eliminating repetitive tasks so that employees have more time for operations that bring added value while strengthening, at the same time, relationships between the company, partners and customers”, says Marilena Tetici, Deputy General Manager of Mogo Romania.
The company is part of the Eleving Group, active in sixteen countries on three continents – Europe, Asia and Africa, four of the markets being members of the European Union. In a continuously evolving labour market, socially, legally and economically, companies must adapt and implement new strategies for talent management and organisational success.
At the European level, in the third quarter of 2023, 195.1 million people had a job, while 12.1 million were unemployed, according to Eurostat data. Compared to the countries where Eleving Group operates, Romania has the lowest employment rate, namely 68.7% relative to the country’s population, as opposed to 77.8% in Latvia, 78.6% in Lithuania and 81.8% in Estonia. However, the highest unemployment rate is recorded in Latvia and Lithuania, at 6.5%. Estonia is in second place with an unemployment rate of 6.2%, followed by Romania with 5.1%.
„Competitiveness and changes in the labour market have intensified significantly in recent years, causing difficulty in attracting and retaining talent in organisations. There is an increasing need for flexibility, and employees seek adaptable work environments that offer adaptability in their way of working. Regardless of their experience level, people seek positions that offer professional and personal growth opportunities and can highlight their competence. Moreover, sustainability, corporate responsibility, and the importance of political and ethical factors are among the main criteria for candidates to choose a company”, says Anita Kalnina, Head of HR at Eleving Group on labour market trends.
Mogo Romania aims to open seven positions in various areas of the company’s activities. The company seeks to hire finance professionals to contribute to its continuous development. As a highly competitive economic sector, the company emphasises innovation and professionalism in all operational processes. In developing the local team, the company is recruiting shortly for sales and customer support positions and debt collection.
„In recent years, Romanian companies faced a decrease in qualified and motivated staff, which has led companies to invest more in staff development and employee retention measures. In the current context, we want to focus our efforts on effective communication, value generation, and operation automation. In the future, we are committed to strengthening these principles in all our future actions, thus contributing to creating an organisational culture in which our colleagues want to grow and develop”, declares Roxana Stoian, HR Manager of Mogo Romania.
With a headcount of 2,760 employees, a portfolio of more than 320,000 active customers, and more than €1.6 billion issued since inception, the Group’s growth was recognised with the listing among Europe’s 1,000 fastest-growing companies in 2020 and 2021, according to the Financial Times. As a result of Eleving Group’s actions related to employee well-being and career opportunities, the company was ranked 15th in the „Best Employer in Latvia 2022” category, the highest-ranked Fintech company.
About Mogo Romania
Mogo Romania has been operating since 2017, financing individuals and authorised individuals to purchase new or used cars. During its period of activity, Mogo has financed over 18.464 clients.
About Eleving Group
Eleving Group is a fintech company with a presence in 16 countries across three continents: Europe, Asia, and Africa. The group operates in the financial services industry and was one of the 1,000 fastest-growing companies in Europe in 2020 and 2021, according to the Financial Times. The company currently employs 2,760 people, has more than 320,000 active customers, and has issued over €1.6 billion in loans since its inception.