BCG alumnus Juris Parups lands top role at Latvia's Mogo Finance

11 October 2018

Mogo Finance, a second-hand car financer from Latvia, has appointed former The Boston Consulting Group advisor Juris Pārups as its new Chairman of the Board.

Founded in 2012, Mogo Finance is a used car financing company that offers accessible and secured loans to consumers and enterprises. The company from Latvia focuses on leaseback services and finance leases up to €10,000, with maturities ranging up to eight years. To date, customers in thirteen countries in the Baltics and Central and Eastern Europe – Latvia, Lithuania, Estonia, Georgia, Bulgaria, Albania, Macedonia, Bosnia and Herzegovina, Romania, Moldova, Belarus, Poland and Ukraine – have leveraged Mogo Finance’s finances for (co-financing) purchases using a leaseback construction (i.e. lends against vehicles already owned by clients).

Late last month, the listed company announced a change in the company’s top structure. Edgars Egle, the firm’s former Chairman of the Board, has been succeeded by Juris Pārups, who currently serves as Chief Operating Officer for the operations in Latvia, Lithuania, Estonia and Georgia. Pārups brings with him several years of experience in finance management and financial advisory to the top role. Prior to joining the Riga-headquartered company, Pārups worked for management consulting firm The Boston Consulting Group in its London office, and for professional services giant KPMG in Riga. At both consultancies, he was mainly involved with engagements in the Financial Services and FMCG sectors. Pārups is a graduate of Stockholm School of Economics and also has received a MBA degree from IMD Business School in Switzerland.

BCG alumnus Juris Parups lands top rol at Latvia's Mogo Finance

Pārups has been tasked with continuing Mogo Finance’s steep growth trajectory. The company is one of Europe’s fastest growing and larger secured used car financing companies, having to date issued over €250 million in loans and running a net loan portfolio over €120 million. To make room for financing further growth, in July Mogo Finance listed its latest 4-year corporate bonds on the Frankfurt Stock Exchange. The group issued bonds for a value of €50 million at par with an annual interest rate of 9.50%.

“Listing of our latest bond at the Frankfurt Stock Exchange marks the next step of our growth strategy in Europe to build a leading position in the second-hand car financing sector,” said former Chairman Egle at the time.

In June another BCG alumnus, Tommi Kainu, was appointed to the newly created position of Chief Business Officer at Bavarian Nordic.

Rik de Weerd joins Product League as Chief Digital Transformation

19 April 2019

Product League, a digital transformation agency dedicated to the OutSystems platform, has brought Rik de Weerd on board as Chief Digital Transformation.

Based in the Netherlands, Product League is a rapidly growing digital product specialist. The firm helps clients – including the likes of beer brewer Heineken and grocery players Albert Heijn and Coop – build systems, applications and products by combining a rapid application development approach with an agile way of working. To this end, Product League is dedicated to the low-code platform of OutSystems. 

Against a backdrop of a growing need to transform core legacy systems, as organisations embrace emerging technologies to bolster competitiveness and (digitally) navigate change, low-code is seeing a booming uptake by organisations of all sizes. According to one estimate, by a US analyst firm, the market for low code development is set to double in size from its current value of $1.6 billion roughly every two years during the period until 2025. Alongside peers such as Appian and Mendix, OutSystems is at the forefront of the low-code industry.

According to Rik de Weerd, Product League is uniquely positioned to tap into the growing market for OutSystems services, leveraging its specialist and multidisciplinary approach to help clients “deliver winning products”. He elaborated, “there are many good players in the OutSystems market which deliver excellent technical work. Product League goes beyond this, and additionally brings a focus on the strategic level. The firm is not only a strategic partner with the right toolset, but also brings the determination to take clients wherever they need to go.”

Rik de Weerd joins Product League as Chief Digital Transformation

The Dutchman brings a wealth of experience to Product League, as well as a reputation as one of the Benelux’s OutSystems thought leaders in the low-code industry. Before joining the digital consultancy, he worked for OutSystems from their Benelux office as Lead Solution Architect for Northern Europe. During his tenure, he has led a large number of digital transformation projects and has been responsible for resolving complex business and IT issues. Earlier in his career he held several IT consulting and project management roles. 

Asked about his move from OutSystems to Product League, De Weerd commented: “After five years of evangelising low-code, drawing up countless solutions across Northern Europe and battling 'old habits and short-term thinking’, now it’s time to put my money where my mouth is. I had the privilege to be presented with several new business cases every week in different branches and help blueprint the road to value in all of them. Now I’m eager to take that to the next level and drive the programmes that actually transform corporations into the digital age.”

“Low-code has crossed the chasm, the technology is now here to stay. Searching for new, more effective ways of catalysing their digital transformation, leading companies are realising this. Driving digital transformation as a core competency of Product League is now my mission and I believe it will be an excellent fit.” 

He further pointed at Product League’s ability to provide an end-to-end service, “With a team of product owners, business analysts, UX/UI designers and OutSystems developers, Product League can offer clients the full digital experience. But technology can only take you so far – without the right people, the right mindset and the power to execute, IT stays hypothetical. I believe I’ve found all three in Product League.”