Just five years ago the prevalent discourse was that every company needed to be a tech company, but the growing popularity of SaaS solutions is reversing this trend, and fintechs can now focus on developing innovative products and new business models.
The FIS.solutions LMS will enable companies to automate the full lending lifecycle, while at the same time tailoring the solution to each individual product or service. FIS.solutions will use the investment capital for additional hiring, so that their clients don’t have to as the time it would take a company to launch a new product with an in-house IT team would be a missed opportunity for them to continue growing their portfolio.
He founded FIS.solutions together with Juris Cirkovs and Kristaps Veinbergs. Their LMS caters to both secured and unsecured business and retail loans, including instalment loans, auto leasing, mortgages, line of credit, buy-now-pay-later, payday loans, invoice factoring, embedded finance and more.
Managing Partner of Expansion Capital, Zigmārs Reklaitis, explains that they are focused on companies that are export-oriented and have strong growth potential. “FIS.solutions checks both of those boxes. Their proven track record in the global lending market has us excited for what’s to come,” he says of the investment.
Market demand for lending services is set to keep up the steady increase of the past few years. In future, the basic FIS.solutions LMS features will be available as a freemium service. This will foster the emergence of new fintech players and tailor-made financial products for the unfinanced population, becoming one of the first products of its kind on the market. Established players may leverage the complete LMS functionality, customisation opportunities and premium services at an additional cost.
Once the freemium SaaS solution is live, the company is aiming to launch a Series A investment round within a year to expand into new markets and become the first 100% no-code solution.