European investor Pollen Street Capital has invested €35 million in alternative lender Finbee Verslui. This funding will enable Finbee Verslui to finance over 1,500 businesses more quickly and on better terms.
Tomas Mačiulaitis, CEO of Finbee Verslui, highlighted the company's mission to support small and medium-sized businesses (SMEs) by providing necessary financing. Since its inception, Finbee Verslui has supported over 3,000 customers and maintained an average annual growth of 60% in loan originations over the past five years. The new investment will help bridge the funding gap caused by increasing customer demand, allowing the company to grow at a faster pace.
Last year, Finbee Verslui financed more than €27 million in loans, and this year, they expect to originate over €40 million in new loans. Mačiulaitis emphasized that the additional funding will enable the company to meet market demand and offer more competitive financing terms. The investment will also speed up the loan disbursement process, reducing the time from over a week to just a few hours.
Ethan Saggu, Investment Director at Pollen Street Capital, expressed excitement about supporting Finbee Verslui and its customers. He noted the increasing demand for SME financing across Europe due to insufficient bank capital. Saggu praised Finbee Verslui's attractive product for Lithuanian SMEs and the management team's commitment to prudent lending practices.
Mačiulaitis pointed out that small companies with up to 10 employees make up about 84% of all legal entities in Lithuania, yet they face significant challenges in accessing finance. The partnership with Pollen Street Capital will help these businesses increase their volumes, create jobs, and pay more taxes. This investment is particularly noteworthy as it comes at a time when there is concern about foreign investors withdrawing from the region.
Overall, the €35 million investment from Pollen Street Capital will significantly enhance Finbee Verslui's ability to support Lithuanian SMEs, promoting financial inclusion and economic growth in the country.
