Softloans, a Fintech startup headquartered in Vilnius, Lithuania, has successfully secured €1 million in pre-seed funding to bolster its growth and development initiatives.
The investment round was spearheaded by venture capital firm Firstpick, alongside contributions from several business angels, signaling strong investor confidence in the company’s innovative approach to small and medium-sized enterprise (SME) financing.
Founded and led by CEO Audrius Griškevičius, Softloans is at the forefront of the fintech sector with its specialized embedded revenue-based lending solution.
This service integrates seamlessly with various digital platforms, including online marketplaces, payment solution providers, and aggregators, allowing them to offer customized lending options to their users.
The company’s solution is designed to streamline the lending process for SMEs by incorporating critical functionalities such as data collection, analytics, risk assessment, and loan management.
Currently, Softloans’ technology is employed by 10 partners and has processed data for almost 1,000 corporate clients spread across multiple European countries, including Lithuania, Latvia, Estonia, the Netherlands, Finland, and Poland.
This extensive reach underscores the scalability and applicability of their lending solution across different markets.
The fresh influx of capital will be strategically used to further enhance Softloans’ technological offerings. Specifically, the funds will facilitate the expansion of their services to not only cater to e-commerce platforms but also businesses that utilize point-of-sale (POS) terminals.
This expansion is aimed at diversifying the application of their financial products to encompass a broader range of commercial activities and settings.
Softloans’ commitment to innovation in the SME lending space is reflected in its proactive approach to refining and adapting its solutions to meet the evolving needs of its clients.
The company has witnessed promising results from its initial offerings and is now looking to leverage this momentum to expand its presence both within Lithuania and internationally.
With the continued development of its technology and the strategic use of new funding, Softloans is poised to enhance its impact on the European fintech landscape, offering more SMEs flexible, data-driven financing solutions that support their growth and operational success.
