Finpro raises EUR 5 million from a Luxembourg fund
Alternative lender Finpro has raised EUR 5 million in financing. An agreement has been signed with the Luxembourg-based Quantic Receivables Fund. The funds will be used to finance small and medium-sized businesses, regardless of sector.
According to Kęstutis Grinaveckas, co-founder and CEO of Finpro, the agreement with the Luxembourg fund marks an important strategic step: it strengthens the company’s international partnerships and broadens its sources of funding.
“For us, this is the first expression of confidence of its kind from a foreign investor, and an important recognition. It confirms that the direction Finpro has chosen – expanding the alternative financing solutions available to businesses – has growth potential and is of interest to international partners. Our goal is to keep diversifying our sources of funding. The agreement allows for the financing amount to be increased,” says K. Grinaveckas.
Finpro’s business loan portfolio currently stands at EUR 38 million, 35% more than in the third quarter of last year.
Quantic Receivables Fund is an investment fund registered in Luxembourg that invests in various types of trade finance transactions.
Launched in early 2021, Finpro is a team with more than 20 years of experience in the financial sector, gained at Lithuania’s largest banks. The company finances businesses from EUR 10,000 to EUR 500,000.
