Lithuanian alternative lender Finpro has secured €5 million in financing from Luxembourg-based Quantic Receivables Fund. The funding will support small and medium-sized businesses in Lithuania across all sectors.
Finpro co-founder and CEO Kęstutis Grinaveckas says the agreement strengthens the company’s international partnerships and broadens its funding base.
“This is the first time we have secured funding of this kind from an international investor, and it is an important vote of confidence in Finpro. It shows that our strategy of making alternative financing more widely available to businesses has growth potential and is attracting interest from international partners. Our goal is to continue diversifying our funding sources. The agreement also allows for additional funding in the future,” says Grinaveckas.
Finpro’s business loan portfolio currently stands at €38 million, up 35% compared with the third quarter of last year.
About Quantic Receivables Fund
Quantic Receivables Fund is a Luxembourg-registered investment fund that invests in a variety of trade finance transactions.
About Finpro
Finpro is a Lithuanian alternative lender that began operating in early 2021. Its team has more than 20 years of financial sector experience gained at Lithuania’s largest banks. The company provides business financing ranging from €10,000 to €500,000.
