smeGo Reaches Milestone of 2 Billion and Sees Dutch Growth Increase in Q2
The pan-European financial services platform has financed €2 billion in companies and projects since its founding in 2016.
smeGo Netherlands sees further growth: 27% increase compared to Q1 2024.
smeGo Netherlands has been active in the Dutch market for one year.
Amsterdam, August 1, 2024 - The pan-European financial services platform smeGo, which focuses on established small and medium-sized enterprises, proudly announces that it has financed a total of €2 billion in companies and projects since its founding in 2016. In the Netherlands, the company has financed €19 million since it started one year ago.
In the second quarter of 2024, smeGo's total outstanding loan portfolio reached €250 million, with €111 million in financing provided during the quarter. In the Netherlands, there was almost a 27% increase compared to Q1 2024, highlighting the company's successful expansion efforts in the Dutch market.
Bas Vanhorick, CEO of smeGo Netherlands, commented: “The impact we have made in our first year as a newcomer in the Dutch financing landscape shows the need for growth capital among established SMEs.”
Mindaugas Mikalajunas, CEO of smeGo, said about this achievement: “Reaching this milestone is a testament to our growth and the robust product-market fit of our business model across Europe. Our origins in the Baltic states have not hindered our progress but have driven us to make strategic decisions that have led to consistent growth and profitability. We have prioritized balanced expansion so that our investors can regularly profit, and this strategy has paid off.”
Mikalajunas also highlighted the advancements in smeGo’s technology and processes: “Following significant investments in our smeGo app and self-service portal, the average onboarding speed has improved by 25%, now taking only 12 minutes. smeGo’s proprietary underwriting and decision-making tool, GoCredits, enables financing decisions within two minutes. This year, we plan to invest an additional €1 million in our technology to further streamline our operations.”
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