Ellinas Finance CEO Nearchos Petrides Shortlisted for the ‘Young Entrepreneur’ Category in the CBN Young Dragon Awards

Ellinas Finance is proud to announce that its CEO, Nearchos Petrides, has been shortlisted in the ‘Young Entrepreneur’ category of the prestigious CBN Young Dragon Awards. This nomination is a testament to Nearchos’ leadership, vision, and his pivotal role in transforming Ellinas Finance into a key player in Cyprus' alternative financing sector.

Under Nearchos' leadership, Ellinas Finance has seen exponential growth. The company’s loan portfolio has surged to €25,000,000 in 2024, up from €16,000,000 in 2020, reflecting a 33% increase in just four years. The company is on track to achieve its ambitious goal of a €50,000,000 loan portfolio by 2028, underscoring its strong growth trajectory.

Ellinas Finance’s factoring services have experienced exceptional growth since their launch in 2018. Starting with just €500,000 in financed invoices, the company now manages over €20,000,000 annually in factoring, providing essential liquidity to SMEs. This represents a 20-fold increase in just five years, making factoring the pinnacle of Ellinas Finance’s product suite .

Under Nearchos’ leadership, Ellinas Finance partnered with Atradius, a global leader in credit insurance. This collaboration has significantly strengthened the company’s factoring services, offering clients the dual benefit of quick financing and comprehensive credit risk protection. Atradius’ credit insurance solutions have become a key differentiator for Ellinas Finance, helping it attract a growing number of SMEs seeking factoring services.

Nearchos Petrides has spearheaded several innovative initiatives that have significantly expanded the company's product offerings. In 2021, the launch of GoGet Retail Microfinance as the first Buy Now Pay Later (BNPL) solution for the Cyprus market, marked a significant milestone. This retail-focused microfinance solution empowers individuals and small businesses to access quick, flexible, and affordable financing for retail purchases at store checkout or online, allowing consumers to make store purchases with ease.

Another significant achievement under Nearchos' leadership is the launch of Ellinas Finance’s insurance brokerage business in 2023. This expansion into the insurance sector enables Ellinas Finance to offer a wider range of financial services, providing clients with comprehensive financial solutions that now include personal and business insurance products. This move underscores the company’s commitment to diversifying its portfolio and addressing a broader spectrum of client needs.

Nearchos has also been instrumental in strengthening further the company’s key strategic partnership with MoneyGram International as Super Agent for Cyprus, and the expansion of the Moneygram network in Cyprus to 55 locations across the island. In the past three years alone, Ellinas Finance has processed over €165,000,000 in money transfers via the Moneygram payment platform, helping individuals and businesses with secure and efficient cross-border transactions.

With a forward-looking strategy, Nearchos Petrides continues to drive innovation and growth at Ellinas Finance. The company remains committed to offering cutting-edge financial solutions, empowering SMEs, and expanding its range of services through new partnerships and product launches.

“I am truly honoured to be shortlisted for the Young Entrepreneur Award” said the CEO of Ellinas Finance, Nearchos Petrides. He added, “This recognition reflects the incredible efforts of the Ellinas Finance team. We’ve positioned our company as the leader in alternative financing in Cyprus, grown our loan portfolio significantly, expanded our solutions with new innovative services such as BNPL with GoGet Retail Microfinance, entered the insurance brokerage market, and formed key partnerships with industry leaders like MoneyGram and Atradius. These achievements are all part of our commitment to delivering innovative solutions that empower our clients and support the Cypriot economy.”

Follow the link to vote for Nearchos Petrides in the ‘Young Entrepreneur’ Category of the CBN Young Dragon Awards https://voting-dragonawards.com/