finloup
Fintech
Scale Up
Organization Description
We are a Greek fintech company that aims to help businesses gain affordable and easy access to products and services that serve their needs, through innovative consumer models. We have a vision o contribute to a more sustainable future through the circular economy. We aim for less toxic waste and wiser use of the planet’s natural resources. How do we achieve this? By offering leasing of electronic devices. With finloup, businesses can lease technology products with flexible leasing, paying a low amount each month. We recommend to professionals a new way to always use the most advanced, top technological models and to enhance their productivity and the quality of their work, while also reducing their carbon footprint! We promote usage over ownership and make technology a little greener!
Antonis Prentzas
“Co-Founder & CEO at finloup”
Marios Noutsos
“Co-Founder & CFO at finloup”
Stelios Gasparinatos
“CIO finloup”
Kyriakos Georgiou
“Chief Risk and Data Science Officer at finloup”
Introduction
Founded in 2019 as a team project by four dedicated founders, our corporation officially launched in 2020. By 2021, Finloup pioneered Greece’s first Buy-Now-Pay-Later service, boasting a lean yet highly efficient team. Leveraging cutting-edge open banking technologies, we mastered the art of evaluating creditworthiness for both consumers and businesses. In May 2022, we expanded our horizons, venturing into the car leasing industry across Greece, Romania, and Poland, partnering with reputable car dealership. Building on this success, by October 2022, we introduced Device as a Service leasing, catering to both individual consumers and companies. Fueling our growth, we’re proud to have secured a total of 2 million euros in funding. Our journey is a testament to innovation, adaptability, and unwavering commitment to our customers’ needs.
Background
Originating as a collaborative project in 2019, Finloup officially emerged in 2020 with a mission to revolutionize financial accessibility through innovative fintech solutions. Despite challenges in market entry, such as regulatory hurdles and establishing credibility, Finloup quickly gained traction. Pioneering Greece’s first Buy-Now-Pay-Later service in 2021 marked a significant milestone. Overcoming initial funding challenges, with angel investments in 2021 and subsequent backing from reputable Venture capitals like Velocity Partners & Genesis Partners, Finloup’s journey underscores resilience and adaptability. Today, its robust revenue streams and strategic partnerships propel its continued success in reshaping the fintech landscape.
Achievements
Finloup has garnered significant achievements since its inception. In 2020, it was accepted into Athens University of Economics and Business’s prestigious startup mentoring program, laying a strong foundation for growth. The following year, Finloup secured 3rd place in Alphabank’s Finquest startup award, recognizing its innovative contributions to the fintech landscape. The startup further solidified its position by joining Eurobank’s EGG startup program in 2021. Finloup reached an impressive milestone by securing about 100k euros from angel investors in 2021. Notably, in April 2021, Finloup launched its groundbreaking buy-now- pay-later service, marking a pivotal moment in its trajectory. Oct 2021 witnessed a significant milestone with the acquisition of 1 million euros in funding, followed by another funding round of similar scale in Oct 2023. In April 2023, Finloup achieved a remarkable milestone by reaching a monthly recurring revenue of up to 20,000 euros. This accomplishment underscores its growing traction and financial stability within the fintech sector. With a robust revenue stream, Finloup is well-positioned to continue its mission of providing innovative financial solutions while driving sustainable growth and delivering value to its stakeholders.These achievements underscore Finloup’s relentless pursuit of excellence and innovation in the fintech arena.
Leadership
Highlight
Our leadership is characterized by diversity and excellence, with key positions proudly led by women. At the forefront of our organization, women spearhead crucial roles in marketing, product design, and UI/UX. Their strategic vision, creativity, and expertise drive our innovation and customer engagement initiatives forward. By embracing gender diversity in leadership, we harness a wealth of perspectives and talents, enriching our corporate culture and ensuring holistic decision-making processes. With their leadership, we continue to break barriers and set new standards for success in the fintech industry.
Inpact
on ecosystem
Our offerings have significantly impacted the ecosystem by empowering businesses to operate more efficiently without unnecessary capital expenditure. From software agencies to law offices, accounting firms to hotels, and courier companies, our solutions have streamlined operations, optimized workflows, and reduced financial strain. By providing affordable access to technology products, we’ve enabled these diverse businesses to thrive, driving economic growth and fostering a more sustainable business landscape. In addition to cost efficiency, our commitment to eco-friendliness extends to device reuse. By promoting leasing over ownership, we minimize electronic waste and contribute to a greener environment. Through our sustainable leasing model, businesses can access cutting-edge technology without perpetuating the cycle of constant upgrades and disposal. This approach not only reduces carbon footprint but also aligns with the principles of circular economy, ensuring that resources are utilized efficiently and responsibly. By prioritizing environmental sustainability alongside financial efficiency, we pave the way for a more conscious and responsible approach to business operations.
Lessons
Learned
Our journey has taught us invaluable lessons in organization, refining processes, and embracing trial and error. Above all, we’ve realized the paramount importance of delivering exceptional user experiences swiftly and adaptably. By prioritizing user-centricity and agility, we’ve overcome challenges, refined our approach, and emerged stronger. These lessons have not only shaped our operations but also reinforced our commitment to continuous improvement and customer satisfaction.
Conclusion
and future Outlook
As Finloup continues its trajectory of success, the future holds promising opportunities for expansion and innovation. With plans to venture abroad and diversify its product offerings, Finloup aims to solidify its position as a global leader in fintech and device as a service. Strategic partnerships, such as the recent collaboration with a Big Retailer in Greece, will further enhance market presence and drive revenue growth. By prioritizing customer-centric solutions and leveraging its strong financial backing, Finloup is poised to accelerate revenue MRR and unlock new avenues of growth, cementing its role as a trailblazer in the evolving fintech landscape.
