Romanian fintech Omnicredit wins SME Banking Club award

Omnicredit, the first microfinancing, scoring, and factoring fintech platform in Romania, was given the “Best Digital Lending in CEE among FinTechs” award in “The Best Lending Digital Solution in the CEE region” category, awarded by the SME Banking Club Association.

The awards ceremony took place on November 29 in Krakow, Poland. Thirty-four companies in countries such as Turkey, Poland, the Czech Republic, Bulgaria, and Slovakia were in the same category, with Omnicredit taking the first place along with Lemonero, a fintech of Czech Origin.

The Omnicredit platform supports small and medium entrepreneurs by financing up to RON 250,000 (EUR 50,000) with a 100% digital solution. The company currently has four product categories - factoring, scoring, microloans, and the credit line for supplier payments, destined for small and medium enterprises that face challenges in accessing traditional financing.

This year, Omnicredit has signed over 1200 contracts, with a financing value of over RON 200 million (EUR 40.2 million). For the next year, the company aims to extend its products and achieve an organic growth of over 30% and horizontal growth.

“Small and medium enterprises play a central role in the Romanian economy by creating jobs and contributing to economic development. The latest data demonstrates that the sector represents 66% of total private-sector employment and contributes 56% to the gross added value, according to data published by the European Commission and the Central Investment Bank. Moreover, micro-enterprises with less than 10 employees and a turnover lower than 2 million euros represent one of the most important economic sectors, which is the reason why we aim to provide small entrepreneurs with personalized solutions to achieve their business goals,” said Elisa Rusu, CEO of Omnicredit.

Eighteen indicators were considered for the “Best Digital Lending in CEE among FinTechs” award. Some of these indicators were the multitude of steps the client must follow to access financing, the ease of the process, the automation of the approval process, obtaining the digital signature, and the possibility of signing online.

The SME Banking Club is an association of bankers to provide relevant information about the services and products that banks and financial companies offer to small and medium-sized enterprises, founded in 2010. Between November 29-30, the association organized the CEE23 SME Banking Event Conference, awarding prizes in multiple categories to companies from Central and Eastern Europe that stood out for innovation, speed of process, accessibility, and quality.

(Photo source: the company)