Fagura and Lendrise forge strategic partnership to enhance Credit Scoring for SME financing in Romania
In an important move within the Romanian fintech sector, Fagura, the innovative crowd lending platform and Lendrise, a leading financial inclusion proponent, have announced a strategic partnership. This collaboration marks a significant step in the use of locally developed credit scoring models for financing SMEs in Romania.
About Fagura
Fagura is known for its crowd lending platform that connects SME borrowers with investors. With a vision to transform into a comprehensive digital banking platform, Fagura will offer an array of financial services, currently emphasizing competitive interest rates and higher investor returns. Their innovative approach and expansion into new financial services illustrate their commitment to change for the better the financial sector.
Through its innovative business model, Fagura intermediated over €5 million since 2019 in Moldova alone. Over the years, it gained the trust from reputable financial institutions like USAID, EBRD and EFSE who collectively contributed to the development of its product and funding disbursement in the country. As for Romania, Fagura aims to issue loans to micro and small businesses worth over €9 million until the end of 2025. This will be complemented by
financial services relevant to the SME community of which more communication will be given in due course.
About Lendrise
Lendrise Marketplace is the Romanian fintech company that strongly believes in the sovereignty of digital identity, creditworthiness and health so that people can store and use personal information for their benefit and across any political, social, financial or geographical boundaries. And over 1 million existing users believe the same.
About RofinTech
The 🇷🇴 Romanian Fintech Association Fintech (www.Rofin.Tech) plays a pivotal role in this partnership. As a leading organization in Romania's fintech sector, RofinTech is dedicated to fostering innovation and collaboration among fintech companies. Its mission is to create a thriving ecosystem that promotes technological advancement in financial services, ensuring that Romania stays at the forefront of fintech development.
The Partnership
The partnership between Fagura and Lendrise represents a significant leap in the local fintech collaboration. By integrating Lendrise's comprehensive platform to obtain credit history data, Fagura will enhance its credit scoring model, enabling more efficient and accurate financing of SMEs in Romania. This synergy not only demonstrates the power of collaborative innovation in fintech but also paves the way for more robust and inclusive financial services in the region.
Contact Information:
Fagura <info@fagura.ro>
Lendrise <contact@lendrise.com >
RofinTech <hello@rofin.tech>