FIS.solutions, a Riga, Latvia-based IT services firm that lending software, raised €250,000 in funding for its customizable no-code lending solution.
The investment came from Expansion Capital. The company will use funds for hiring and to further develop its no-code tech which offers lenders an out-of-the-box customizable SaaS solution.
“We see that the market has consolidated and lending companies now spend 10-20% of their revenue on IT. This makes it hard for new players to enter the market due to the need for significant technological investment. When they do make these investments, the costs are passed on to the consumer,” says FIS.solutions CEO Armands Liseks.
The out-of-the-box loan management system will enable companies to automate the full lending lifecycle, while at the same time tailoring the solution to each individual product or service.
Company: FIS Solutions
Funding Month: April 2023
Lead Investors: Expansion Capital
Company Website: https://fis.solutions/
Software Category: Lending Software
About the Company: Founded in 2011 by Juris Cirkovs, Kristaps Veinbergs, and Armands Liseks Finance IT Solutions (FIS) provides services and builds products for the lending and loan management industry. FIS is a dedicated software and product development house that builds loan management solutions for banks, consumer lenders, and the broader fintech industry. The company’s loan management system caters to both secured and unsecured business and retail loans, including installment loans, auto leasing, mortgages, line of credit, buy-now-pay-later, payday loans, invoice factoring, embedded finance, and more. FIS works with 50+ lenders all over the world and has successfully implemented hundreds of different projects.