smeGo has secured a €25 million investment from a leading European financial institution. This funding will enable us to broaden our invoice factoring services and offer even lower rates to clients, enhancing access to financing for SMEs across the Baltic region.
Since its inception in 2016, smeGo has provided tailored financing solutions to over 4,000 SMEs, with a credit portfolio of €240 million and a total of €2 billion financed. With branches in the Netherlands, Finland, and the Baltics, the company is now preparing to expand into Western Europe.
“In today’s challenging macro-economic environment, we’re excited that this new capital will allow us to provide even more competitive rates for our clients,” says smeGo CEO Mindaugas Mikalajūnas. “This investment is a testament to our platform’s strength and the SME sector’s potential in the Baltics.”
“Invoice factoring remains one of our most popular financing solutions, and along with our business loans, credit lines, and leasing services, we provide a full spectrum of financing solutions to SMEs. Factoring helps SMEs boost cash flow, release working capital, and manage financial stability. With this capital injection, we can offer rates as low as 0.58% per month for this product, substantially boosting many SMEs and positioning smeGo as a leader in this segment.”
Mikalajūnas views this as a pivotal moment for smeGo: “Our success in the Baltics is rooted in staying responsive to clients’ needs and leveraging digital tools to deliver tailored financing solutions in as little as one hour. We’re ready to take these solutions to a broader European market, helping even more SMEs navigate their financing challenges.”
This investment follows smeGo’s previous success in attracting €240 million from UK-based Fasanara Capital, further strengthening its position as a key player in Europe’s alternative finance landscape and confirming its status as a partner of choice for major investment firms.