Lithuania’s Finbee Verslui lands €35m investment from Pollen Street Capital
Finbee Verslui, an alternative lender based in Lithuania, has secured a €35 million investment from UK private capital asset manager Pollen Street Capital.
Finbee Verslui bags €35 million investment
Headquartered in Vilnius, Finbee Verslui operates as an online P2P lending platform. Its crowdfunding solution, Finbee for Business, has provided over 4,500 loans to more than 3,000 small businesses since its introduction in 2017.
In 2023, the firm claims to have financed over €27 million in loans, while this year, it anticipates it will achieve more than €40 million in new originations.
Furthermore, the lender reports an average annual growth of 60% in loan originations over the past five years. This consistent rise in customer demand has resulted in a “funding gap”, explains Tomas Mačiulaitis, CEO of Finbee Verslui.
“Until now, we have been increasing liquidity with our own funds, but this partnership will enable us to grow at much faster pace,” he continues.
With this investment, Finbee Verslui says it will be able to finance over 1,500 businesses faster and on “more favourable terms than before”.
“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,” adds Mačiulaitis.
In addition, the latest cash injection will enable the firm to lift its caps on maximum loan amounts. “Regardless of the customer’s ability to borrow, we had to limit the maximum loan amount based on the liquidity on our platform,” says Mačiulaitis. “Now we will be able to lend as much as the real need is.”
