The Company was founded in 2018 and it is a customer (KYC) onboarding platform, that aims to provide the full service from the start of the onboarding to managing the lifecycle of their clients. The product is packaged in blocks, therefore, their clients can pick and choose which features they need. Once their needs change, and they need more - the Company can easily and quickly add new features. The Company now has over 300 paying customers in banking, streaming, insurance, gambling, and sharing economy fields. This year, the Company has reached a break-even point with a positive EBITDA and is forecasting EUR 7.8 million turnover by the end of 2024. 

The Company is seeking EUR 756,900 financing for 6 months. Investors are offered a 15% annual interest rate (1.25% monthly) and it will be amortized at the end of the loan term. The financing is needed for working capital until the next payment of EUR 3m is received from a large international long-term client. The loan will be secured with a pledge of the founder’s shares (for EUR 756,900 loan - 17.5% shares of the Company worth EUR 5.25m, the latest equity fundraising round was in 2021, and the valuation was EUR 30 million) and a pledge of receivables, which is also the source for loan repayment.

The minimum amount of the first tranche is EUR 500,000. In total approved financing is up to EUR 1,500,000 under the same terms and additional tranches will take place from October to April of 2025. In total, for all financing amount of EUR 1,500,000, 35% of the Company shares worth EUR 10.5m are approved for the pledge, meaning that additional tranches will have their own percentage of shares pledged. The pledge of receivables will also be divided proportionally for each tranche.

The project risk rate is C (79 out of 100).

There are a number of factors that make lending to the Company an attractive opportunity and the main highlights are as follows:

• The Company has significant and steady growth in recurring revenue, reaching EUR 6.6 million in 2023.
• The loan has a clear repayment source from the long-term client with successful cooperation track record since 2021.
• The Company is one of the leading KYC and AML platforms in Europe, serving over 300 clients worldwide.
• The Company has reached a break-even point with a positive EBITDA.
• The loan will be secured with a pledge of the founder’s shares and a pledge of receivables.