Softloans, a Vilnius, Lithuania-based fintech startup, raised €1M in Pre-Seed funding.
The round was led by Firstpick, with contributions from business angels.
The company intends to use the funds to expand operations and development efforts.
Led by CEO Audrius Griškevičius, Softloans provides an embedded revenue-based lending solution for SMEs. It integrates lending services into the digital platforms such as marketplaces, payment solutions providers, and aggregators to offer loans to their customers.
The embedded revenue-based lending solution, which includes data collection, analytics, risk assessment, and loan management, is now already used by 10 partners. Using its analytics solution, Softloans has already processed the data of almost 1,000 corporate clients in Lithuania, Latvia, Estonia, the Netherlands, Finland and Poland.
Commenting on the news, Audrius Griškevičius said: “The pre-seed funding provides even more confidence and an opportunity to further develop the technological solution so that it is easily and smoothly applied not only to e-commerce businesses, but also to businesses using POS terminals. I have no doubt that the Softloans revenue-based financing solution is by far the best lending product for small and medium-sized businesses that we have on the market today. Like all innovations, this one has taken some time to be accepted by partners and customers in the region, but we are already seeing excellent results and are happy to be part of the growth of businesses. We are planning expansion in Lithuania and beyond.”
FinSMEs
19/04/2024