image credit: Pxhere

European Investment Bank invests $80m in Lithuania’s SME Finance

November 12, 2020

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”.

Read More on Banking Technology