Fagura fintech platform announced its recent regulatory approval from the Financial Supervisory Authority in Romania, under Regulation (EU) 2020/1503 and Romanian Law no. 244/2022. The attainment of the Authorisation as a crowdfunding service provider is a milestone achievement that marks the beginning of Fagura’s expansion into the Romanian financial market under the Fagura.ro domain, bringing with it exciting opportunities for both investors and borrowers. Supported by prestigious partners such as UNDP, USAID, EBRD and UKAID, this next step in our development brings added confidence to the Romanian market.
Launched in 2019 in Moldova, the fintech platform Fagura has already built a strong reputation through cutting-edge technology, coupled with transparency, financial inclusion, and ESG support, in financing green economy projects, e-commerce, and businesses developed by women. Tested and validated in the Republic of Moldova, Fagura facilitates crowdfunding and investment, connecting individual investors with borrowers seeking funding for various purposes, focusing on small business financing. The platform’s mission is to provide accessible and fair financial solutions to the community they are part of – a new generation of professionals and entrepreneurs with a mind setup for growth, innovation and a deep sense of togetherness. With a first step into social lending, the platform aims to evolve into a virtual financial space offering digital financial solutions and revolutionizing the way people access and manage their finances. The platform fagura.ro will offer an online financing option tailored for small and micro Romanian companies, at the same time allowing investors to choose the companies to invest in based on the detailed business plans made available, with options to use Auto-Invest functionality or Secondary Market.
“Expanding into Romania represents a significant phase in Fagura’s journey. This strategic move is poised to bring several advantages: diversification of the client base, a steep increase in the number of potential investors and borrowers, and, last but not least, our first step into the European Union arena. It’s a new, exciting, but challenging territory. We are also preparing to officially launch the project in the Romanian market within the next two months, further extending our reach and impact”, said Tudor Darie, CEO of Fagura.
“Fagura’s expansion into Romania has the opportunity to have a transformative impact on the local financial landscape. Focusing solely on funding small enterprises, Fagura will increase the choice of financing options on the market”, stated Cristian Pasa, COO of Fagura.
The successful application of Fagura for the EU Crowdfunding Authorisation was made possible through the expert legal counsel provided by CEE Attorneys / Boanță, Gadei și Asociații.