Created on August 24, 2023 by the founders of Esketit, Mojo Holding Limited is registered with the Abu Dhabi Global Market (ADGM) under number 000009525. On its website, the company operates under the Mojo Capital brand and offers financial services and products to fintech and asset management companies.
After Avafin and Money for Finance left, investors saw the loan volumes offered by Mojo Capital on Esketit increase significantly. Today, the total amount of loans issued by this lending company is 6.5M€, as shown on the lender’s web page. However, the actual amount may be higher.
The financial analysis of Mojo Holding Limited shows some operational capacity with structured receivables and revenues. However, the company also has negative equity and weak profitability, creating concerning financial fragility. The lack of detailed provisions increases uncertainty about risk management.
👉 Financial Audit of Mojo Capital (Esketit)
Beyond financial aspects, a persistent problem raised by investors concerns the company’s lack of transparency. If Mojo Capital’s activities are as successful as their only quarterly report describes, better communication is essential, especially since P2P lending is based on trust.
Their official website, created in February 2024, does not provide much information to investors. It contains only a simple web page without any legal notices. You can even read “Four reasons to work with Mojobank” !!
However, we find the legal information for Mojo Holding Limited on another website: “NewSchool“. This is a lending-as-a-service (LaaS) company that allows its clients – financial institutions, telecom operators, e-commerce sites – to easily and quickly offer consumer lending solutions.
The NewSchool website, created in April 2024, displays surprising results: present in 10 countries, $2B+ in funds disbursed, 20 million loans granted and 2 million clients served. However, these metrics, displayed as of early 2025, do not reflect the company’s financial results described above for the year 2024.
On the site, NewSchool explains that it “studies the local credit market, develops the business plan, then integrates its financial products on demand (consumer loans, installment purchase, P2P lending platform) and optimizes rates and conditions to maximize profits and volumes“.
To learn more, we can look at the “case studies” section to discover NewSchool/Mojo’s clients. However, a large portion of the 9 clients listed on the NewSchool site are actually other companies created by Mojo’s founders: Spanda Capital, Money for Finance, Loanme (MDI Finance).
We also find AvaFin, which left Esketit in June 2025 after its acquisition by Capitec Bank (April 2024), a group presented here as a client. The site claims that “NewSchool created a P2P lending platform with AvaFin as the borrower“, although Esketit was created 4 years before NewSchool…
We also find Aksioma 24, which specializes in loans to farmers, and Utopia, which offered loans guaranteed by future revenues from music streaming. While NewSchool/Mojo may have supported these companies, they are primarily clients of Esketit. This type of service does not justify raising millions of euros.
Finally, no information is available about a Gulf Cooperation Council (GCC) fintech company to which NewSchool/Mojo allegedly provided “consumer credit operations solutions“. As for the last mentioned client, Al Hokair Group, its website (alhokair.com) simply no longer exists.
Looking at the team, we find the two founders. Only one of them, Matiss Ansviesulis, mentions NewSchool on his LinkedIn profile, while Davis Barons, also a Director, does not mention it. The team also includes Santa Lemsa, Product Director, and Ilgvars Jecis, Technical Director.
Santa Lemsa does not mention any participation in NewSchool on her LinkedIn profile. She is primarily the Director of the online lending company Simpleros, which is also present on Income Marketplace. She also runs a small consulting firm, RAA Consulting, but it is not clear whether NewSchool is one of her clients.
Ilgvars Jecis also does not mention any participation in NewSchool aka Mojo Capital. He co-founded Emfino, which automates financial reporting, and also FinoTech, a small company that handles IT for Esketit (traces of the development server can be found online and Ilgars is mentioned in this 2022 LinkedIn post).
The website provides little information to understand where the 6.5M€ from Esketit investors was allocated. Looking at their LinkedIn page, we learn that NewSchool is located in Abu Dhabi and describes itself as a provider of white-label lending-as-a-service.
When we scroll through the posts published by the company, we notice that all these posts are… in Spanish. In fact, NewSchool communicates only to the Mexican market. This is confirmed by a page on their website (not accessible from the homepage) where the Mexican location appears at the bottom of the page.
In summary, Mojo Capital aka NewSchool offers turnkey P2P lending services mainly in Mexico. One of the founders, Matiss Ansviesulis, confirms this in a LinkedIn post where he mentions targeting emerging markets. He mentions Mexico as a target in an October 2024 interview, along with Saudi Arabia.
Mojo/NewSchool also has a small team in Mexico with a Director in place since September 2024: José Luis Coba Hernández. He is responsible for launching local operations, developing the business model, acquiring the first clients and establishing partnerships in the Mexican market.
José María Proaño, Commercial Manager for Mexico and Latin America since November 2024, handles business development. Ana Caballero manages daily operations since July 2025, with no further details about her position.
However, this small team is attached to Mojo/NewSchool, which shows the absence of a Mexican legal entity established locally. This creates a barrier for potential clients who would need to contract with an Emirati entity. The only clients mentioned for their activity in Mexico are still the same as usual…
In their Q2 2025 brochure, it states that “Mojo Holding Limited operates under the Mojo Capital brand name“. Today we can see that the real nature of their activities under the NewSchool brand has been hidden and not disclosed to investors.
In the same brochure, it states that “Mojo Capital invests and actively lends […] with a particular focus on dynamic markets in Europe and the Middle East“. We also note that there is no mention of their activities in Mexico, which have been underway since 2024.
The management of Mojo Holding Limited (Esketit’s founders) must urgently explain why they raise several million euros via Mojo Capital in the United Arab Emirates when the main activity (projected for the end of 2025) seems to be focused on NewSchool in Mexico.
nevertheless, for now, this investigation has not been able to fully answer the central question:
What are the legal entities that currently pay interest on the 6.5M€ raised from Esketit investors at annual rates between 10 and 12% ?
To be informed of my next discoveries 👇
