SOLUT

lendingsme financing

FOUNDING YEAR: 2015
LOCATION: Latvia
Last Update: 01/05/2020

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About

SOLUT is an online platform that provides loans for small and medium-sized enterprises. The company provides loans to help businesses for raw material purchases, work capital needs, business expansions, etc. It offers collateral loans up to 100,000 euros for a period of 2 years. The company aims to make it possible for every entrepreneur in Europe to get a loan within 5 minutes with a 5% annual rate.

MEDICI Analysis

SOLUT is an online platform that provides loans for small and medium-sized enterprises. The company provides loans to help businesses for raw material purchases, work capital needs, business expansions, etc. It offers collateral loans up to 100,000 euros for a period of two years. The company aims to make it possible for every entrepreneur in Europe to get a loan within five minutes with a 5% annual rate.

Focus

PRODUCTS & SERVICES

SME lending platform for European businesses.

REVENUE MODEL

The company generated revenue by charging 5% annual rate while providing loans to SMEs.

MAIN CLIENTS

Small and Medium business

EXISTING PARTNERSHIPS

Swedbank

Lursoft

PMF GROUP

Grupeer

BNI

PRIMARY PROBLEM SOLVED

customers get loans in 5 hours

COMMENT

The company claims that as of June 2017, 1000+ users applications were reviewed and 150 were loans issued.

Traction

TRACTION COMMENT:

The company has planned to hasten the valuation process of collateral, using drones and video communication apps, as well as the opportunity to apply for a loan through a mobile application.

People

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

Artur Geisari (CEO); Sandis Medins (CTO); Dastan Tairov (CRO)

Momentum

FUNDED

YES

TOTAL FUNDING

$240 K

DATE OF LAST FUNDING

May 2015

SEED & PRIOR FUNDING

$240 K

SEED CLOSED ON

May 2015

LISTED

NO

Innovation Programs

BASICS

FOUNDING YEAR:

2015

LOCATION:

Latvia

Views:

85 VISITORS | 163 VIEWS
LATEST FUNDING ROUND

$240 K

About

SOLUT is an online platform that provides loans for small and medium-sized enterprises. The company provides loans to help businesses for raw material purchases, work capital needs, business expansions, etc. It offers collateral loans up to 100,000 euros for a period of 2 years. The company aims to make it possible for every entrepreneur in Europe to get a loan within 5 minutes with a 5% annual rate.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

SOLUT is an online platform that provides loans for small and medium-sized enterprises. The company provides loans to help businesses for raw material purchases, work capital needs, business expansions, etc. It offers collateral loans up to 100,000 euros for a period of two years. The company aims to make it possible for every entrepreneur in Europe to get a loan within five minutes with a 5% annual rate.

Focus+
Momentum+
Traction+
People+
Other+

Innovation Programs

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SOLUT

About

SOLUT is an online platform that provides loans for small and medium-sized enterprises. The company provides loans to help businesses for raw material purchases, work capital needs, business expansions, etc. It offers collateral loans up to 100,000 euros for a period of 2 years. The company aims to make it possible for every entrepreneur in Europe to get a loan within 5 minutes with a 5% annual rate.

Focus

PRODUCTS & SERVICES

SME lending platform for European businesses. Issuing loans without collaterals up to 50'000 EUR under 5 business hours for small-medium enterprises.

REVENUE MODEL

The company generated revenue by charging 5% annual rate while providing loans to SMEs.

TOP PROBLEM SOLVED

customers get loans in 5 hours

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

People

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

CEO: Artur Geisari

CTO: Sandis Medins

employee: Artur Geisari (CEO); Sandis Medins (CTO); Dastan Tairov (CRO)

Momentum

FUNDED

YES

LISTED

NO