SME Finance secures €100m credit facility from London’s Fasanara Capital
Lithuanian debt financing firm SME Finance has secured a €100 million credit facility from London’s Fasanara Capital.
Fasanara extends credit facility with SME Finance
The latest funding brings the total committed from Fasanara to €240 million.
SME Finance CEO Mindaugas Mikalajūnas says the new credit facility extension “will help us greatly in making finance accessible for every business”.
“We believe strongly that this sector is one of the cornerstones of our economy, and there is a lot of demand right now for finance partners that speak the language of small- and medium-sized business,” Mikalajūnas adds.
SME Finance is now closer to its goal of establishing an EU-wide fintech marketplace where businesses can access business loans, revenue-based financing and embedded finance solutions, among others.
Fasanara Capital CEO Francesco Filia says: “This market has huge potential, with a highly-skilled labour force and innovative niches.”
The start-up has already disbursed more than €1.3 billion in loan volume and invoice financing to more than 2,500 businesses.
Established in Vilnius, Lithuania in 2016, SME Finance utilises AI, open banking and automation in its loan decision making, financing and customer onboarding to shorten and simplify the process.
