Fagura, a fintech platform originating from the Republic of Moldova, announced a new EUR 1 million funding round secured through convertible notes. The funds will support the expansion of operations in Central and Eastern Europe (CEE) and enable the development of innovative digital services aimed at helping freelancers and small entrepreneurs through a financial ecosystem that provides instant access to capital and tailored tools for business growth, the company said.

The funding round was backed by two investment funds – uVentures and Mozaic Ventures – along with a group of angel investors, including Liviu Munteanu, Partner at Founders Bridge, a VC Fund active on the Romanian market, and Radu Cheltuială, founder of iTicket, a leading platform for ticketing and event management, among others.

The investment will be directed toward technological innovations and expansion into new markets across the CEE region, Fagura said. 

Key initiatives include leveraging artificial intelligence to optimize automated credit scoring, launching bank accounts and cards for entrepreneurs, gamifying the platform through tokenized rewards, and integrating personalized financial solutions for freelancers and small entrepreneurs.

In addition, Fagura aims to collaborate with e-commerce platforms, accounting firms, and other digital solutions to expand its range of services and create a financial ecosystem that directly supports business growth. 

Tudor Darie, CEO of Fagura, said: “This funding represents a significant step in our mission to support 1 million entrepreneurs through an innovative financial ecosystem. We are deeply grateful for the trust placed in us by investors such as uVentures and Mozaic Ventures, as well as other angel investors. This round provides us with the resources needed to accelerate innovation and expand into new markets.”

Since its launch in May 2019, Fagura has facilitated over EUR 8.5 million in investments and attracted more than 40,000 users to the platform, with over 4,000 active clients. Over the next three years, the company aims to facilitate more than EUR 50 million in funding for freelancers and small entrepreneurs.

Fagura holds four licenses issued by regulatory authorities in the European Union and the Republic of Moldova.

irina.marica@romania-insider.com

(Photo source: Fagura)