Riga-based, IT services firm FIS.solutions has raised €250,000 for its customisable no-code lending solution. The investment came from Expansion Capital.
“We're very focused on companies that are export-oriented and have strong growth potential. FIS.solutions checks both of those boxes. Their proven track record in the global lending market has us excited for what's to come,” says Expansion Capital Managing Partner Zigmars Reklaitis.
FIS.solutions will use the investment capital for additional hiring. The out-of-the-box loan management system will enable companies to automate the full lending lifecycle, while at the same time tailoring the solution to each individual product or service.
“We see that the market has consolidated and lending companies now spend 10-20% of their revenue on IT. This makes it hard for new players to enter the market due to the need for significant technological investment. When they do make these investments, the costs are passed on to the consumer,” says FIS.solutions CEO Armands Liseks.
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