Young Entrepreneur
Company: Ellinas Finance
Position: CEO
Description:
Nearchos Petrides is CEO of Ellinas Finance Public Company Limited since 2019. Ellinas Finance, the leader in Alternative Financing in Cyprus, with 30 years of expertise, has provided more than €300 million in loans to consumers and SMEs, and maintains a Net Profit Margin of 30% since 2017. Nearchos joined Ellinas Finance in 2015 as an Executive Officer, managing a lending portfolio of €14 million. In 2016, he led the company's Business Development strategy and the creation of new financing products. By 2017, he expanded the company’s Factoring business under the brand “Tech Enabled Smart Factoring”, making it Cyprus’ only independent factoring solutions provider. In 2018, Nearchos secured a strategic partnership with Atradius, a global leader in Credit Reinsurance, significantly boosting the factoring business. Appointed CEO in 2019, he guided the company's digital transformation during the pandemic. The 2020 launch of the “Fast E-Loan” service enabled consumers and businesses to quickly apply for loans online, providing essential liquidity during the pandemic. In 2021, Nearchos introduced Cyprus' first Buy-Now-Pay-Later service, “GoGet” allowing customers to spread payments at retail stores into installments of up to 36 months. This service, offered at major stores across Cyprus has transformed consumer behaviour. In 2023, Nearchos launched “Ellinas Insurance Brokers” offering personalized insurance advice. Under his leadership, Ellinas Finance’s active loan portfolio has grown to €25 million, with a goal to reach €35 million by 2025 and €50 million by 2028.
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