The European P2P platform raises € 312,920 to become an online bank
Estonia-based peer-to-peer lending platform Fagura aims to expand into Romania and become a digital bank after raising € 312,920 (£ 268,921.4) from 208 investors under of a Seedrs fundraising campaign.
The European P2P lending platform, which focuses on consumer loans and plans to expand into corporate finance, exceeded its target of 200,000 euros by 156%, 39 days from the end.
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“The company is incorporated in Estonia, a digital and safe country for investors,” Fagura said on his fundraising page on the crowdfunding platform Seedrs.
“We will capitalize on the opportunities offered by the new European crowdfunding regulation 2020/1503 to obtain a crowdfunding license in Romania, which will allow us to quickly launch into other countries of South-Eastern Europe,” a market of over 100 million individuals and entrepreneurs, which could provide an estimated profit of 10 to 20 percent for loan investors.
“We have tested and validated our platform in a small market (Republic of Moldova), a sandbox environment, and now we are participating in crowdfunding to extend and launch the first P2P lending platform in the Romanian market (for borrowers) and all European countries (for investors). ). “
The European P2P lending platform EstateGuru recently raised € 1.3 million from 971 investors as part of a Seedrs fundraising campaign.