TLDR: Lithuanian Fintech Startup Raises €1 Million Pre-Seed to Empower SMEs in E-Commerce
Softloans, a Vilnius-based fintech startup, has secured a €1 million pre-seed investment round led by venture capital fund Firstpick, with strategic contributions from business angels. The company offers an embedded revenue-based lending solution to help SMEs access working capital in the e-commerce landscape.
During the two years of operation, Softloans developed a technological solution that is now used by 10 partners in several countries. The funding will be used to expand the solution beyond e-commerce businesses to include those using POS terminals, aiming to fuel the growth of businesses in Lithuania and beyond.
The embedded financing tool assesses risks and creditworthiness quickly and accurately, providing financing without collateral and a fixed repayment schedule. Softloans plans to further develop the solution and expand its reach, confident that it offers one of the best lending products for SMEs in the market.
Key Points:
- Softloans secures €1 million pre-seed investment to empower SMEs in e-commerce.
- Company offers embedded revenue-based lending solution to help SMEs access working capital.
Overall, Softloans’ innovative approach to lending in the e-commerce sector has the potential to make a significant impact on SMEs by providing them with easier access to the capital they need to grow and thrive in a competitive market.
