The European P2P platform raises € 312,920 to become an online bank
Estonia-based peer-to-peer lending platform Fagura aims to grow in Romania and become a digital bank after raising € 312,920 (£ 268,921.4) from 208 investors in a Seedrs fundraising campaign.
The European P2P lending platform, which focuses on consumer lending and plans to expand into business finance, exceeded its target of € 200,000 by 156%, with 39 days remaining.
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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 EU crowdfunding regulation 2020/1503 to obtain a crowdfunding license in Romania, which will allow us to quickly launch into other European countries of the Southeast, 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 crowdfunding to expand and launch the first P2P lending platform in the Romanian market ( for borrowers) and in all European countries (for investors). ”
Another European P2P lending platform, EstateGuru, recently raised € 1.3 million from 971 investors as part of a Seedrs fundraising campaign.