Latvian fintech startup POSfinance raises €140K from LatBAN

Fintech startup POSfinance has raised €140K in an expanded pre-investment round from Latvian business angel network LatBAN.

The raised funds will be used to expand the scale of operations, develop an automated risk assessment system and issue new loans to customers in Latvia and future markets. The company plans to enter four more European markets by 2027.

POSfinance offers revenue-based financing solutions for SMEs. This fintech startup offers flexible repayment models that are directly linked to the company's revenue. Instead of fixed monthly payments, POSfinance customers repay a loan, the amount of which is calculated as a fixed percentage of weekly turnover. In this way, the service adapts to business seasonality and cash flow fluctuations. The company was founded in 2024 in Riga, Latvia. Founders: Inga Pinka, Santa Saulina, Aleksandrs Popovs.

LatBAN is a Latvian business angel network that was founded in April 2014. It helps business angels make investments throughout the Baltic region offering training, advice, and co-investment opportunities.

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