OLX Romania has completed its acquisition of KIWI Finance, Romania’s largest credit broker. The country’s Competition Council approved the deal, which cements the company’s move into financial services.
“We are pleased to announce that the transaction has been successfully completed and we are confident that we have the ideal partner in this new journey.,” said Monika Rudnicka, general manager of Real Estate Europe, OLX Group. “The acquisition of Kiwi Finance comes as a result of OLX Group’s confidence in the growth prospects of the Romanian market and we look forward to this partnership, which will help us to develop and expand the services offered to our clients in the financing area.”
The AIM Group previously reported that the move marked a new direction for OLX Group’s Romanian operations, which previously consisted of horizontal OLX (the country’s largest), and verticals Autovit.ro for cars and Storia.ro for real estate.