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Sep 06, 2023 15:37 EEST
September 6 (SeeNews) - Moldovan fintech startup Fagura said on Wednesday that it has obtained approval from Romania's financial supervision authority, ASF, to start operations in the neighbouring country.
The company will begin operating in Romania under the Fagura.ro online domain, acting as a crowdfunding and investment platform which will connect investors and small companies, it said in a press release.
The official launch of the platform will take place in the next two months, said Fagura CEO, Tudor Darie.
"The expansion in Romania represents a significant step in Fagura's journey. This strategic move brings with it several advantages: the diversification of the customer base, a significant increase in the number of potential investors and borrowers and, last but not least, our first step into the European Union arena," Darie said.
The company will initially focus on providing finance to micro and small businesses and will at a later stage expand its offer to other market segments, COO Cristian Pasa explained.
Fagura, launched in 2019, is an alternative investment platform for loans, allowing individuals and companies to gain access to financing solutions.
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