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Crowdfunding platform Profitus crossed 10M euros boundary

2020-03-12

Crowdfunding platform Profitus, since it started operating in August 2018, financed loans for businesses worth over 10.5M euros. In total, the platform helped to finance 59 real estate projects in Lithuania.

The founder of Lithuanian start-up Viktorija Vanage, is happy that alternative financing becomes more and more popular in the borrowing sector and Lithuanians more often understand that they should make their savings work for them.

'During this short period of 1.5 years we became one of the leaders in the market and we can suggest not only alternative financing for businesses but also an opportunity to invest 100 or more euros in real estate for everyone' - claims Profitus founder and executive.

Profitus platform counts to have a community of over 5700 registered investors, that earned over 380 thousand euros.

 

33M until the end of this year

In 2020 Profitus plans even greater growth and until the end of this year it plans to raise 33 million euros for projects.

'We gained both, the trust of investors and awareness among businesses. The current acceleration of growth will allow us to reach even more. We plan to have raised over 33 m euros for real estate projects by the end of this year. Indeed, the fact that we can suggest very competitive interest from 7% for businesses, will greatly assist Profitus growth. It will allow attracting bigger and more trustworthy projects - says Viktorija Vanage.

She also adds, that this year the company will not confine to the market of local housing but it will also look into entering abroad as well as developing product loans.

'We plan to introduce new loans for business clients and more investment opportunities for investors not only in Lithuania. Indeed, technical advancement of the platform is also very important, therefore, we plan to introduce the secondary market for loans. The new version of the platform is already being prepared, it will be even more comfortable for the users'. - says Viktorija Vanage.

In 2019 Profitus in total received 113 requests to borrow accounting for 42M euros, however, the company after careful evaluation pick only 20% of the projects. Presently, the investors on the platform earned on average 10.39% of annual interest.

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