OLX Group to take over Romanian loan broker Kiwi Finance

The marketplace operator OLX Group, owned by South-African giant Naspers, will take over Romanian loan broker Kiwi Finance from Swedish investment fund Oresa Ventures.

Thus, OLX Group will add Kiwi Finance to its Romanian portfolio, which already includes the classifieds portal Olx.ro, real estate platform Storia.ro, and automobile marketplace Autovit.ro.

The transaction should be concluded by the end of this year, after the Competition Council greenlights the deal.

OLX Group plans to keep Kiwi Finance CEO Anca Bidian and the company's management team.

"The acquisition of Kiwi Finance comes as a result of OLX Group's confidence in the Romanian market's growth prospects and the desire to expand the services offered to our clients in the financing area. We are sure that we have found the ideal partner with which to turn this vision into reality," said Marcin Urbanczyk, CEO of OLX Group Europe.

OLX Group's majority shareholder, Naspers, also owns Romania's biggest online retailer - eMAG.

(Photo: OLX Romania Facebook Page)