SimpleFinance is named the largest microfinance lender to SMEs in Russia

MCC SimpleFinance LLC (hereafter, “SimpleFinance” or the “Company”), a high-tech Russian company specialising in providing accessible lending to small and medium-sized Russian businesses, announces that the Company has topped the National Rating Agency’s (“NRA”) ranking of organizations in the microfinance sector.

According to the published ranking, which was compiled by the NRA for the first time this year, following the results of the microfinance sector for the first half of 2018, SimpleFinance topped the list of the largest companies in the Russian Market for the size of its loan portfolio in the SME sector. In less than three years since the company’s foundation, SimpleFinance has become the clear leader in what it considers to be its priority sector, lending to SMEs, having increased its portfolio from RUB 20 mln in 2015 to RUB 1,851 mln according to the results from the first half of 2018.

SimpleFinance has also topped the ranking of microfinance companies in the organisation of tender loans sector for the size of its portfolio and its tender turnover. According to the NRA, the turnover of the Company in tenders exceeded RUB 2.5 bln.

Alexey Basenko, CEO of SimpleFinance, commented:

“Ranking first place amongst the most influential Russian microfinance organisations in the SME sector is the result of the implementation of sequential steps in SimpleFinance’s strategy and the successful scalability of the business. Since its foundation, the Company has demonstrated dynamic growth, focusing on its main area of expertise: serving small and medium sized businesses, improving and expanding the product line, the diversification of its funding sources, and also the number of different initiatives aimed at the strengthening of our leading position in the Russian market. We will continue to actively develop SME lending, paying special attention to the quality of our portfolio and increasing the number of services provided by the company. The growth of the company’s loan portfolio is an indicator of the company’s reliability and our clients’ trust in the professionalism of our team”.