Crowdfunding platform Profitus exceeded 10 million. euro limit
The crowdfunding platform Profitus has financed business loans for more than 10.5 million since its launch in August 2018. euros. In total, the "Viso" platform helped to finance 59 real estate projects in Lithuania.
The founder of the Lithuanian start-up, Viktorija Vanagė, is happy that alternative financing is gaining more and more important in the lending sector and that Lithuanians increasingly understand that the money lying in the account needs to be employed.
"During this short period of 1.5 years, we have become one of the market leaders and can not only offer alternative financing for business but also invest money in real estate for everyone, even those who do not have a lot of capital. - says the founder and manager of Profitus.
The Profitus platform claims to have a community of over 5,700 registered investors who have already earned over $380,000. Euro.
33 million by the end of the year
In 2020, Profitus is planning even greater growth and by the end of this year plans to mobilize financing for projects worth 33 million. euros.
"We are increasing investors' confidence and awareness in the field of business, so the gained momentum will allow us to achieve even more." Already at the end of this year, we plan to mobilize financing for projects worth more than 33 million. euros. Undoubtedly, the fact that we can currently offer businesses extremely competitive loan interest rates, starting from just 7%, will also significantly contribute to growth. This will allow us to attract bigger and more reliable projects", assures Viktorija Vanagė.
She also adds that this year it will not be limited to the domestic home market, but will pay a lot of attention to expansion abroad and the development of loan products.
"We intend to offer business customers new loan products, and investors - more investment opportunities not only in Lithuania. Of course, the technical development of the platform is also very important, so we intend to introduce a secondary loan market. a platform is already being prepared, which will be even more convenient for users", says Viktorija Vanagė.
In 2019, Total Profits received 113 applications for 42 million. euros, but selected and financed only 20% of the projects. Investors on the platform have currently earned an average of 10.39% annual interest.