Okredo, a Vilnius, Lithuanian-based SaaS startup that enables small European businesses to access expanded business opportunities, announced that it raised €650,000 in funding.
The Lithuanian Business Angels Fund, Presto Ventures, and Lighthouse Ventures led the round.
The raised funds will be used to expand into the UK and other markets and for the development of an Open Banking solution.
In addition to the planned expansion to the UK and other markets, Okredo is developing an open banking solution for its users.
Company: UAB “Okredo”
Funding Month: Aug 2022
Lead Investors: Lithuanian Business Angels Fund, Presto Ventures, and Lighthouse Ventures
Company Website: https://okredo.com/
Software Category: Open Data Platform
About the Company: Founded in 2015, Okredo is a business-matching platform that evaluates new and existing customers’ financial strength and sales potential by providing data and insights for increasing sales and reducing credit risk. The company provides both freemium and premium services (freemium – free of charge, premium – paid services). They currently operate in Lithuania and will expand to Latvia, Poland, the United Kingdom, and other European countries. Okredo has swiftly become a trusted SaaS platform that enables SMEs to assess the credibility, stability, and sales potential of prospective and ongoing business partners and clients. The Lithuanian startup has already launched successfully across the Baltics, and the platform was introduced in all three Baltic nations last year and currently has over 17,000 users and more than 3,000 corporate clients.