Lithuanian fintech SME Finance received €100M credit from British fund Fasanara Capital

Lithuanian fintech SME Finance received €100M credit from British investment company Fasanara Capital.

SME Finance is an AI-driven lending technology platform that provides different types of factoring, loans, and leasing for small and medium-sized companies (SMEs). The startup makes decisions about providing loans and customer onboarding relying on machine learning, open banking, and automation. According to the startup, it has already reached more than €1,3B in loan volume and invoice financing with over 2,5K companies. The average amount of lending is from €10K to €5M. SME Finance was founded by Audrius Milukas in Vilnius in 2016. The company works in Lithuania, Latvia, Estonia, and Finland.

Fasanara Capital is an investment firm and technology platform founded in London in 2011 by Francesco Filia. The fund manages $4B in fintech strategies on behalf of pension funds and insurance companies in Europe and North America.