NEO Finance will be launching a crowdfunding campaign

NEO Finance, a Lithuanian company operating the leading P2P platform in the country, will be launching a crowdfunding campaign. The goal of the campaign will be to attract at least EUR 200.000.

For this, the company has chosen the crowdfunding platform Seedrs, which operates in the UK. The platform was already picked by Revolut, the UK fintech startup, last year.

“This move of ours is a part of a wider strategy of attracting foreign investors. However, the money raised via Seedrs will be used for developments in the local market: IT, marketing, payment initiation service, among others” – Deividas Tumas, member of the Board of NEO Finance, explains.

During the campaign, new shares will be issued. They will be bought by Seedrs investors via specially-established company. This company will become the actual shareholder of NEO Finance, and will take care of the interests of those who invest in NEO Finance via Seedrs. However, Seedrs allows the investors to later sell their shares in the secondary market, or buy more of them.

“We are really excited about this campaign, first of all about the fact that Seedrs has approved our application for crowdfunding. As they themselves declare, they approve only 1 percent of applications, which makes us even happier. Not a single Lithuanian startup has attracted any financing via Seedrs yet. The closest neighbours to have achieved this are Investly from Estonia. They attracted GBP 679.085” – Mr Tumas told.

In Europe, Seedrs competes with several other crowdfunding platforms, such as Crowdcube, FundedByMe, Companisto, Invesdor, Seedmatch, Funderbeam, MyMicroInvest, WiSeed and others.