Bulgaria-based lending platform Stikcredit has raised €156,496 in a crowdfunding campaign being raised on Seedrs.
Stikcredit has beaten the initial crowdfunding target and with another 26 days still on the campaign, it could still raise more capital.
The FinTech is raising the capital at a pre-money valuation of €19.8m and has offered 0.78% of its equity to investors.
According to the funding page, there have been 117 investors on the campaign.
Founded in 2013, the FinTech platform aims to simplify the process of underbanked customers getting a loan. Users can use Stikcredit to get either a payday loan or a short-term loan, only needing to complete a short digital application to get approval.
Payday loans can range from BGN 50 ($30) to BGN 800 ($481), while instalment loans can range from BGN 200 ($120) to BGN 3,000 ($1,804).
The company claims to have been profitable since its inception and attained €1.9m pre-tax profit in 2019. It also has over 15,000 active clients and more than 140,000 in registered clients, it claims.
Fellow Bulgarian FinTech company Paynetics previously closed a €2.5m investment in March to support the growth of its digital payment services.
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