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HELENOS INVESTS IN ROMANIA

Official Press Release:

OMRO IFN S.A. completes a New Round of Equity Investment from Helenos

OMRO IFN S.A., the parent company of Filbo (www.filbo.ro), a Romanian online lending platform, announced a new round of investment from Helenos, a Belgium based private equity fund managed by Inpulse Investment Management, that will allow the digital lender to strengthen its operations, grow its customer base, and further invest into state of the art technology.

Filbo is the digital identity of OMRO, focused on granting online small business loans to help entrepreneurs grow their operations and develop their businesses, through an innovative and fully streamlined digital process.

The fintech sector is a critical element in the development of the digital economy in Romania. By leveraging best-in-class technology, Filbo complements traditional financial analysis and streamlines the loan application process, providing convenience and affordability to customers who are creditworthy but historically underserved by the traditional banking sector”, – Nicolas Blondeau, manager at Helenos.

During its history of operations, OMRO has lent in excess of €80 million to over 10.000 small businesses and self employed individuals across Romania. OMRO plans to further expand its platform to thousands more users through its digitally enabled product, www.filbo.ro

There is a significant need for financing of small businesses in Romania, in particular given the economic crisis induced by current pandemic. The micro segment represents over 90 percent of businesses in Romania and is the backbone of the economy, but it has been historically overlooked by the banking system. The new round of equity investment represents a further validation of our business model and allows us to meaningfully benefit from Helenos’ capital, but also from their extensive knowledge, experience, and mentoring to grow and continue improving our traditional, as well as digital products and customer experience” said Paul Panciu, Chairman of OMRO IFN S.A.

 

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