The Latvian fintech startup inGain has successfully raised €650k to expand its no-code SaaS loan management system. This funding round includes contributions from Trind VC, Fiedler Capital, the Latvian Business Angels network, and several individual investors. inGain’s platform is designed to facilitate lending services for fintech companies and other businesses, aiming to make financing more accessible across various industries.
Lending with No-Code Solutions
inGain’s platform empowers companies to offer tailored lending solutions without the need for extensive coding knowledge, revolutionizing how businesses integrate financing into their product offerings. This capability is crucial for companies that see traditional banking solutions as inadequate for their specific lending needs. Armands Liseks, co-founder and CEO of inGain,illustrates this point with a practical example:
Consider a store chain in Switzerland that sells expensive musical instruments. They want to offer piano leasing because buying one outright is a significant commitment. Traditional banking solutions, like suggesting a credit card or a high-interest consumer loan, do not meet such specific needs effectively.
Approach Fit For Market Needs
The inGain no-code platform is designed to be highly flexible, allowing companies to create and manage lending solutions tailored to their products and customer needs. This approach addresses a significant gap in the market, where existing financial solutions fail to offer the necessary customization or are too complex for practical use.
Reima Linnanvirta, a partner at Trind VC, praised the inGain team’s deep industry knowledge and their innovative approach:
The inGain team has transformed a process that typically requires custom development into a user-friendly no-code SaaS solution. Given the outdated nature of existing market solutions, inGain is well-positioned to disrupt and capture a significant market share.
The funds from this investment round will be directed towards completing the development of inGain’s self-service platform. This platform will allow any interested company to independently create a lending tool that best fits their specific product needs and customer base.
Our goal is to democratize the lending process, making it accessible, customizable, and efficient for businesses of all sizes across various sectors.
Armands Liseks, co-founder and CEO of inGain
