Lithuanian alternative lender Finbee Verslui has closed a €35 million funding round led by Pollen Street Capital. The company will use the fresh capital to finance over 1500 businesses.
- Founded in 2017, Finbee is a Vilnus-based online p2p lending platform led by CEO Tomas Mačiulaitis. The company specialises in providing financial solutions to small and medium enterprises.
- Finbee has supported nearly 3000 customers for the last 5 years, and 2000 of them are currently active, and has seen a consistent annual growth of 60% in loan originations over the last five years.
“First of all, we will be able to pay out business loans much faster. Until now, it used to take over a week to crowdfund larger loans, while now it will take just a few hours from signing the contract to the money being in the account,”
Tomas Mačiulaitis, CEO of Finbee Verslui, comments.
- The round was led by Pollen Street Capital, the service from London. Tomas Mačiulaitis says that the company financed more than €27 million in loans last year alone, and with the new investment, they are set to maintain this growth momentum, projecting over €40 million in new loan originations this year.
The fresh investments will help to cover a funding gap which occurred owing to increased customer requests, and to work with larger businesses which was limited until now.
