SME Finance has received the backing to help it service small and medium-sized enterprises (SMEs) in Lithuania, Latvia, and Estonia.
The firm provides finance for the transport, retail, wholesale, production, and services sectors. Clients can apply using its “full automated” self-service factoring platform.
The funding is the largest investment EIB has awarded to a fintech lender.
Mindaugas Mikalajūnas, CEO of SME Finance, calls the investment “timely and much-needed”.