Flex Credit: From a startup to a company with impressive growth in five years

Flex Credit , in just 5 years of operation on the Macedonian market, has managed to position itself among the most successful companies in the country and build a wide network of branches, services and customers.

The company was founded in 2020, and in a relatively short period of time, it has grown from a new market participant into one of the most well-known entities in the non-banking financial services sector.

Flex Credit as part of the 200 LARGEST AND MOST SUCCESSFUL

In the data for 2024, Flex Credit was ranked 34th on the ranking of the most successful Macedonian companies , within the ranking of the 200 LARGEST AND MOST SUCCESSFUL .

The company generated revenues of 1,388,761,876 denars and a profit of 525,486,020 denars .

Compared to the previous year, the realized revenues increased by 46.10 percent . On the other hand, the profit before tax decreased by 13.95 percent , which shows that the high rate of revenue growth was not accompanied by the same pace of increase in profitability.

Such a movement is not uncommon among companies that are in a phase of intensive growth and expansion .

Network growth, opening new branches, increasing the number of employees, investments in technology, marketing, training and new services can significantly increase operating costs , and as we will see below, Flex Credit has invested in all of these areas in recent years .

However, according to your financial parameters, it is clear that Flex Credit significantly increased its volume of operations in 2024 and continued to strengthen its position in the market.

Part of an international financial group

Flex Credit is part of an international financial group that, since 2013, unites companies specializing in consumer lending and other financial services in Eastern and Southern Europe.

Internationally, the group employs more than 3,000 employees and associates, distributed in over 500 branches in several European markets.

The presence in various national markets allows the group to apply experiences and business practices acquired in multiple countries, adapting services to local conditions and the needs of users on the Macedonian market .

In Macedonia, Flex Credit was founded in 2020. The company is gradually expanding its network, number of employees, and offer of financial services, in order to provide users with simpler and faster access to financial resources.

As part of its corporate positioning, Flex Credit emphasizes that it builds customer relationships on the principles of trust, transparency and integrity.

"With a commitment to innovation, 62 branches throughout the territory of the Republic of Macedonia and more than 200 employees, service excellence and continuous dedication to client success, our company proudly positions itself as a leader in the financial services market. We strive to change the way financial services are offered and to continue the tradition of innovation and the benefits they bring," the company states on its website .

An indicator of rapid development is the presence of Flex Credit among the 50 most successful companies in the country within the rankings of the 200 LARGEST AND MOST SUCCESSFUL .

In 2023, the company ranked 27th on the list of the most successful companies, while in 2024 it was ranked 34th.

The lower position in the ranking does not mean that the company achieved weaker revenues. On the contrary, revenues grew by more than 46 percent.

The change in position may also be a result of better results from other companies included in the ranking, as well as the methodology used to determine the final ranking.

The growth trend continued in 2025. According to data released by the company in 2026, Flex Group ended 2025 with growth of around 23 percent and approximately 180,000 approved loans.

It is important to distinguish between the data here. The 46.10 percent growth refers to Flex Credit's revenues in 2024 , while the 23 percent growth refers to the results the group announced for 2025 .

Five companies united in one financial ecosystem

Flex Credit today operates as part of Flex Group , whose portfolio includes five companies covering different segments of the financial market.

Flex Credit and Zemi Pari operate in the field of lending, Flex Broker is focused on the insurance sector, the National Collection Agency – NAN operates in the domain of receivables management and collection, while Flex Pay is positioned as a fintech company focused on modern payment and digital financial solutions.

Connecting these companies into a group creates a broader financial ecosystem. Instead of companies operating in complete isolation, they can share knowledge, technology, infrastructure, and experiences.

One of the important factors in the development of the group is its focus on financial technologies. The term "fintech" is an abbreviation of "financial technology" and refers to the use of modern digital solutions to provide faster, simpler and more accessible financial services.

This category includes online lending, digital payments, mobile financial services, automated request processing, and other technological solutions that reduce the time needed to use a particular service.

Flex Group today has more than 450 employees and a network of over 110 branches. The size of the physical network shows that, despite the development of digital services, the group still relies significantly on direct contact with customers.

According to the General Manager of Flex Credit, Joana Spasovska, accessibility is one of the key factors for growth.

"For us, numbers are just a measure of the trust that citizens show us. Being the largest on the market also means the greatest responsibility. The 23 percent growth is the result of our strategic decision to be maximally accessible. With over 110 branches, we are present in a large number of cities and towns, ensuring financial inclusion even where traditional banks are not present. The figure of approximately 180,000 loans confirms this," says Spasovska .

The availability of financial services in smaller towns and settlements is an important topic, especially for citizens who do not have easy access to bank branches or digital banking services.

However, fast and easy lending also entails an obligation for companies to clearly inform users about interest rates, costs, deadlines, and the consequences of late payment.

Investments in the human factor

In addition to financial results and network expansion, the group also highlights its investment in employee development.

More than 90 percent of Flex Group employees are women, which makes the company's gender structure particularly interesting in the context of policies for professional development and work-life balance.

One of the group's projects is the Flex Group Leadership Academy, established to strengthen the leadership and management skills of employees.

The trainings cover topics related to decision-making, team management, communication, taking responsibility, and achieving business results. The company describes the Academy not only as a training center, but also as an "incubator for leaders."

This approach can be important for staff retention. In a situation where many companies are facing a shortage of qualified workers and high turnover, the possibility of advancement within the same system becomes an important factor in job selection and retention.

Given that women make up the majority of the team, the company has also introduced benefits related to women's health, including free preventive checkups during the month dedicated to this topic.

At the same time, an additional seven working days of paid leave for fathers have been introduced. This measure aims to contribute to a more even distribution of family responsibilities and improve the balance between private and professional life.

In Macedonian conditions, additional paid leave for fathers is not yet a widespread corporate practice. This is why this benefit can also have an impact on the company's image as an employer, especially among younger staff who increasingly value flexibility, professional development, and family support.

Ambitions for further development

In the coming period, Flex Group management announces continued investments in digitalization, innovative financial services, and human capital development.

"We want to position Flex Group as a European brand that offers speed, reliability and innovation. Our vision is to remain leaders that move the market forward, always one step ahead of the times, but without forgetting that at the center of every transaction is a person. I want Flex Group to be synonymous with trust, and for our employees and clients to be able to say: 'Yes, Flex really cares about us,'" says Spasovska.

The results so far show that Flex Credit has managed to significantly increase its operations in a short period of time and become one of the most successful companies in Macedonia.

However, the next phase of development will depend on the company's ability to sustain growth, improve profitability, manage risks and maintain customer trust. In the financial sector, size and speed are important, but long-term success depends most on responsible operations, transparent conditions and the quality of relationships with customers and employees.