Fagura, a digital banking and alternative investment platform, has received approval to offer investment crowdfunding across the European Union. This Estonian Fintech has already raised €1,122,629 in growth capital on Seedrs, and now with authorization under the European Crowdfunding Service Provider Regulations (ECSPR), it can raise up to €5 million from investors all over Europe.
Fagura specializes in peer-to-peer lending, or crowdlending, allowing individuals to lend to borrowers. According to its website, investors can earn “at least” a 10% return. Although Fagura is registered in Estonia, it has already launched its P2P lending site in Moldova and plans to expand into Romania.
One notable aspect of Fagura is its stats page, which provides valuable information for investors. Currently, the platform has originated over 1500 loans, with an average interest rate of 22.81%. The average loan size is €1,672, and a total of €2.52 million in loans have been issued through Fagura.
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