Vilnius-based SME Finance extends funding facility to €240 million with fresh backing from Fasanara
Summary
Small and Medium-sized enterprises (SMEs) are the backbone of Europe’s economy, accounting for approximately 99% of all businesses and making up 50-75% of the continent’s GDP. Whilst these businesses are a pillar of society, they are under increasing pressure and surmounting challenges as economic uncertainty and societal instability hit. As a result, SMEs are suffering from a lack of banking and finance partners who are flexible and cater specifically to the rapidly changing landscape of SME reality: disrupted supply chains, warfare, shifting labour markets, a down economy, and rising costs. Mindaugas Mikalajūnas, CEO of SME Finance: “SMEs are a highly attractive credit market for major asset managers, like Fasanara, and we are excited to deepen our partnership. Francesco Filia, CEO of Fasanara Capital: “This market has huge potential, with a highly-skilled labour force and innovative niches.