smeGo proudly announces that it has financed businesses and projects totalling €2 billion since its inception in 2016.

Mindaugas Mikalajūnas, CEO of smeGo, remarked on this achievement: “Reaching this milestone is a testament to our growth and the robust product-market fit of our business model across Europe. Originating from the Baltics has not hindered our progress; instead, it has driven us to make strategic decisions that have yielded consistent growth and profitability. We have prioritized balanced expansion, ensuring regular profits for our investors, and this strategy has paid off.”

“Since joining smeGo in May, I have seen the team’s dedication and determination firsthand. With our solid foundation in the Baltics, we are poised to expand into Western Europe and diversify our revenue streams. Our technology-driven business model, combined with deep banking expertise, positions us perfectly to meet the needs of established SMEs” commented Thorsten Seeger, adviser for International Growth and Strategy at smeGo and SME Bank.

In Q2 2024, smeGo’s total outstanding loan portfolio reached €250 million, with €111 million in financing provided during the quarter. The loan portfolio in the Netherlands alone increased by 97% year-over-year, reaching €15 million—a 22% rise from Q1 2024—highlighting the company’s successful expansion efforts.

Mikalajūnas also emphasized the advancements in smeGo’s technology and processes: “Following significant investments in our smeGo App and self-service portal, the median speed of onboarding has improved by 25%, now taking just 12 minutes. smeGo’s proprietary tool for underwriting and decision-making, GoCredits, has made it possible to make financing decisions within two minutes. This year, we plan to invest an additional €1M into our tech stack to streamline our operations further.”