smeGo’s loan portfolio in the Netherlands grew by 44% in the first quarter

According to the company, the need for business financing doubled in the Netherlands, while portfolio growth remained stable in the Baltic States and Finland.

“It is encouraging that, despite the difficult macroeconomic environment, we managed to maintain stable growth in the markets where we operate. In total, during the first year of 2024 In the quarter, the amount financed in all countries amounted to 100 million. Eur. 70% of the portfolio consisted of business loans, the average amount of which reached almost EUR 90,000. I am especially happy that our portfolio is fairly evenly distributed among all business sectors: trade, services, construction, logistics, production, real estate or agriculture,” Mindaugas Mikalajūnas, head of smeGo, is quoted in the report.

in 2024 in March, the amount of financing provided by smeGo to SMEs reached 1.9 billion. Eur.

“We are rapidly implementing our technological development plan after Vaidas Adomauskas, former head of Revolut Business, joined the management team as product and technology manager. During the first quarter, we completely updated the customer service process and automated the KYC (Know Your Customer) and AML (Money Laundering) processes,” says M. Mikalajūnas.

smeGo points to continuing technological development, implementing automation solutions and optimizing processes to offer products that meet business needs.

“Alternative financiers often focus on very small businesses, when big banks only serve large businesses, and the needs of medium-sized businesses remain forgotten. Our technological solution package is modular and adapted specifically to solve the challenges of medium-sized businesses. It doesn’t matter if we have 20 or 100 sellers, we have to maintain the indicators of customer attraction and satisfaction”, says Vaidas Adomauskas, smeGo’s Product and Technology Manager.