Lithuanian alternative financing company Finpro, which has so far provided services only to Lithuanian businesses, is starting to operate abroad.
 
The company has started offering leasing services in Estonia, and in the near future it is planned to launch the same services in Latvia. According to Finpro CEO and co-founder Dainius Vaičikonis, with the company’s rapid growth, the decision to expand its operations to neighboring foreign countries was only a matter of time. According to him, Estonia and Latvia were chosen due to their similarities with Lithuania and the fact that the need for financing for small and medium-sized businesses (SMEs) continues to grow in all Baltic countries. “Currently, we carry out operations related to Estonia from Lithuania, but as the range of services expands, we plan to establish a branch in this country in the future. We plan to start leasing services in Latvia this year as well,” says D. Vaičikonis.​
 
According to Finpro co-founder Kęstutis Grinaveckas, operations in Estonia began with leasing because, after analyzing the market and the behavior of SMEs in this country, a very high demand for such a service was seen and assessed. In addition, according to him, leasing is quite quickly adapted to the characteristics of the market.
 
In Lithuania, Finpro increased its managed loan portfolio to 22.2 million euros last year and plans to grow it to 30 million euros this year. The company plans to double its total loan portfolio over the next three years.