Finbee are reportedly expanding their service geography and launching their first set of services in Poland.
Finbee revealed that they are now offering loans for small and medium-sized businesses (SMBs) for up to PLN 200,000 for “up to three years, without collateral.”
Tomas Maciulaitis, CEO of Finbee Verslui said:
“We have many years of experience in financing small businesses in Lithuania and have already financed more than several thousand of them since our inception. This is the segment we understand best and are able to serve promptly, so we will be equally focused here in Poland. Poland is known for its entrepreneurial spirit, with a large number of small micro-businesses with up to 10 employees. There are more than 2.2 million of them registered in Poland, and these are our potential clients.”
Loans to Polish businesses will be financed through their company’s capital and borrowed funds from institutional investors, “not through a crowdfunding model.”
Finbee Poland, headed by Aleksander Rutkowski, has been established in this country.
Aleksander reportedly has more than ten years of experience in fintech and banking.
As noted by its management, Finbee is online p2p (peer to peer) lending platform, where SME business and residents aim to benefit from easy “access to loans, while lenders enjoy high interest rates on invested funds.”
As reported earlier this year, European investor Pollen Street Capital invested 35 million EUR in alternative lender Finbee Verslui.
This investment will reportedly enable more than 1,500 businesses to be “financed faster and on more favorable terms than before.”
Tomas Mačiulaitis, CEO of Finbee Verslui said:
“Our mission is to empower the country’s small and medium-sized businesses to grow by providing them with the finance they need. We already have supported over 3,000 customers since inception, with 2,000 active, and have maintained an average annual growth of 60% in loan originations for the last 5 years. We are thankful for the continued support from our investor community to finance these loans, but increasing customer demand has led to a funding gap. Until now, we have been increasing liquidity with our own funds, but this partnership will enable us to grow at much faster pace.”
