Lithuanian FinTech Softloans secures €1m to enhance SME lending capabilities

Lithuanian FinTech Softloans secures €1m to enhance SME lending capabilities

Softloans, a promising FinTech startup based in Vilnius, has successfully raised €1m in a pre-seed funding round.

The funding round was spearheaded by Firstpick, accompanied by several business angels who contributed towards the €1m capital injection, according to a report from Tech Funding News. This financial endorsement marks a significant milestone for Softloans as it seeks to broaden its operational reach and refine its technological offerings.

At its core, Softloans provides an innovative lending framework designed specifically for the e-commerce sector. By integrating financial services directly into digital platforms — including marketplaces, payment solution providers, and aggregators — Softloans facilitates seamless loan offerings to SMEs. This model not only simplifies the process of acquiring loans but also tailors financial solutions to the unique traffic and sales data of each client.

The newly acquired funds are earmarked for a robust expansion strategy. Softloans plans to extend its services beyond the Lithuanian market and enhance its technology to support additional digital platforms such as point-of-sale terminals. This expansion is crucial for accommodating a growing client base across Europe, including Latvia, Estonia, the Netherlands, Finland, and Poland.

Softloans co-founder and CEO Audrius Griškevičius highlighted the strategic importance of the funding, “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.”

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