Business angels and Firstpick invests €1M in Softloans

Private business angels invested into Softloans, a Vilnius-based fintech startup. A €1 million pre-seed investment round was led by venture capital fund Firstpick.

This investment aims to revolutionize financing for small and medium-sized enterprises (SMEs) in the e-commerce sector. The funding will be used to further develop their technological solution, expanding its application beyond e-commerce businesses to include those using POS terminals. This will enable Softloans to offer their innovative lending product to a wider range of SMEs, ultimately fueling the growth of businesses in Lithuania and beyond.

Softloans was founded in 2022 by Audrius Griskevicius, Edmundas Kevisas, and Aleksandras Kunickas. The startup develops a platform that offers financing tools, including data collection, analytics, risk assessment, and loan management, to facilitate revenue-based lending for web-based merchants (D2C) and digital service providers (subscription, SaaS, app).

FIRSTPICK is a VC fund and an accelerator for early-stage tech startups across the Baltics. It mainly invests in fintech, SaaS, deeptech, and consumer marketplaces.

COBALT represented business angels in this transaction. Partner Akvilė Bosaitė and Senior Associate Vytautas Vosylius were working on this deal.