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Cesu iela 31, k.3, LV-1012
Riga, Latvia.
(371) 678 959 10


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SIA GelvoraSergel is an international company and the part of the prestigious Swedish financial holding company Marginalen AB. The Scandinavian traditions and long-term experience in the financial and credit management market have made the company one of the debt recovery leaders in Latvia as well.
SIA GelvoraSergel is one of the leading extrajudicial debt recovery companies and one of the most active debt purchasers or implementers of cession transactions in the Latvian market. Active closure of cession transactions indicates the quality of company’s services, since it reflects the company’s confidence in the professionalism of employees and the ability to recover debts. Investment in the acquisition of debtor portfolios would not be a strategic approach, if the efficiency of the company’s debt recovery was low.

SIA Gelvora offers the following credit management services:

5CExtrajudicial debt recovery from legal and natural persons in Latvia and abroad;
4CJudicial debt recovery from legal and natural persons in Latvia and abroad;
3CProvision of information about the credit history of potential partners;
2CStamp service;
1CJudicial services and consultations during debt recovery process.

The history of the company


UAB Gelvora is established in Lithuania.


The company becomes the subsidiary of the Swedish financial holding company Marginalen AB.


UAB Gelvora branch in Latvia is established and company start to perform economic activities in Latvia.

The debts portfolio purchasing agreement with AS Swedbak is signed, so the first cooperation contract in Latvia is implemented.


A rapid growth and revenue increase, significant expansion of the customer base in the sector of extrajudicial debt recovery and cession transactions.

The branch of UAB Gelvora in Latvia becomes a member of the Latvian Extrajudicial Debt Collector Association (LĀPPA) and starts to participate in the production and improvement of the legislative framework.


The debtor portfolio of the consumer credit company SIA Inserviss Group is purchased.


UAB Gelvora branch in Latvia becomes as a debt collection cooperation partner of several leading companies from the different business sectors in Latvia.


The debtor portfolio of AS GE Money bank is purchased.

According to the turnover data UAB Gelvora branch in Latvia becomes the second largest company in the business sector in the country.


The branch of UAB Gelvora in Latvia celebrates its 5th anniversary.

SIA Gelvora is established and the new company receives a license for the debt collection services provision in Latvia.


Economic activities are transferred to the SIA Gelvora.

The debt recovery industry and its importance

The debt recovery plays a vital role in the stability of the financial system and crediting market in Latvia. Late payments and/or credit defaults affect the total prices of the services (for example, the credits become more expensive), thus resulting in higher costs for those who fulfil their credit obligations on time. The debt recovery facilitates compliance with the contractual terms and mutual responsibility for credit commitments, therefore, SIA GelvoraSergel has actively participated in the improvement of the legislative framework, taking part in the Latvian Extrajudicial Debt Collector Association (LĀPPA), as well as cooperating with international debt recovery associations League International for Creditors and European Collectors Association.


The characteristics of SIA GelvoraSergel

  • High efficiency of extrajudicial debt recovery;
  • Professional solutions and particular debt recovery methods;
  • Educated, professional, and knowledgeable debt recovery experts;
  • Encouraging attitude towards debtors and fair solutions;
  • Individual approach to every customer;
  •  An extensive credit history database;
  • Care for the adjustment of the debt recovery sector and the stability of the financial system;
  • Long-term international experience in the field of debt recovery;
  • Strict regulations for providing services that comply with the applicable laws and regulations of the Republic of Latvia.