Fagura (Honeycomb in Romanian), a digital banking and alternative investment platform, has been approved to offer investment crowdfunding in the EU.
Fagura is an Estonian Fintech that is said to be building a digital bank. The company has raised growth capital twice on Seedrs, totaling €1,122,629. The platform is authorized under the new EU rules known as European Crowdfunding Service Provider Regulations (ECSPR) that allow for firms to raise up to €5 million online from all investors across Europe.
Fagura offers peer-to-peer lending (or crowdlending) where individuals may lend to borrowers. The platform’s home page currently indicates that investors can earn “at least” 10%.
While registered in Estonia, the P2P lending site has been launched in Moldova with plans to expand into Romania.
Fagura, like some other European P2P lending platforms, hosts a stats page which is helpful for investors. As of today, Fagura has originated over 1500 loans at an average interest rate of 22.81%. The average loan size is €1,672. In total, €2.52 million in loans have been issued by Fagura.