Stikcredit reaches €150,000 crowdfunding target
A consumer lender that lets peer-to-peer investors fund its loans through European marketplace platforms such as Mintos has hit its crowdfunding target on Seedrs.
Bulgaria-based Stikcredit has raised more than €150,000 (£134,000) in a crowdfunding round from 99 investors.
Stikcredit aims to simplify the loan application process for the underbanked in Bulgaria.
It has funded €26m of consumer loans since launch in 2013.
Investors can back its loans through European marketplaces including Mintos, Viventor and Bondster.
Proceeds from the crowdfunding round will be used to fund product development, marketing and its working capital needs.
Read more: Seedrs and Crowdcube: A P2P history
The lender said it has been profitable since inception and generated a €1.8m pre-tax profit for 2019.
“We have proven that our prudential management, strict fiscal policy and quick decisions bring results,” Stikcredit said in its Seedrs pitch.
“Even in the Covid-19 pandemic, which led to unforeseen and negative economic events, Stikcredit generated positive cashflow from operations and remained profitable.
“We are proud that we have built a robust and profitable company.
“Stikcredit is currently well funded, however, we want to reach the next stage of our development and scale our business even further.”
It has been a busy period for P2P crowdfunding campaigns after Charm Impact raised more than £200,000 on Crowdcube earlier this month.
Read more: Four ways to access the P2P sector as an investor
