Moldovan fintech Fagura gets regulatory approval to enter Romania
Moldova-born fintech platform Fagura received regulatory approval from the Financial Supervisory Authority (ASF) in Romania to start operations in the local market as a crowdfunding services provider. The startup will thus expand into the Romanian financial market under the Fagura.ro domain.
The Fagura.ro platform will offer an online financing option tailored for small and micro Romanian companies while allowing investors to choose the companies to invest in based on detailed business plans, with options to use Auto-Invest functionality or Secondary Market, the company said.
“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.
In his turn, Cristian Pasa, COO of Fagura, stated: “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.”
Fagura was launched in Moldova in 2019 and facilitates crowdfunding and investment, connecting individual investors with borrowers seeking funding for various purposes and focusing on small business financing.
(Photo source: Fagura)