Real Estate Crowdfunding Startup From Lithuania Raises Over €5m
by Fintechnews Baltic August 20, 2019One year in the market, and the real estate investment start-up Profitus is already counting its achievements and envisaging future challenges. The crowdfunding platform Profitus just raised over €5,315,000 and funded 28 real estate projects.
The founder and head of Profitus, Viktorija Vanagė, is glad that one year was enough to achieve great results and earn the trust of investors and real estate developers.
Viktorija Vanagė
‘Trust and experience are crucial in the financial sector, so our team is very happy that we managed to achieve great results and become the youngest and one of the leading participants in this market. There are other Lithuanian crowdfunding platforms offering mortgages but they cannot match our results,’
said Vanagė.
The start-upc claims that their projects earned an average annual interest of 10.74% and paid out more than €129,000 to investors in its first year of operation. Profitus accepts investments beginning at €100, yet currently the average investment is approximately €8,100 .
When referring to future plans, the head of Profitus stresses the goal to crowdfund €11m by the end of this year and focus more on the technical solutions for the platform. Profitus also plans to enter foreign markets with more force in 2020 and to start financing real estate development in other countries, thus offering investors real estate outside Lithuania.
Featured image: Viktorija Vanagė, founder and head of Profitus
