Latvian startup inGain gets big backing from investors

Latvian startup inGain has raised EUR 650,000 in funding from venture capital funds Trind VC and Fiedler Capital, as well as from the Latvian Business Angels network and several business angels, reports Labs of Latvia.

This is the first publicly-announced investment in Latvian startups this year. inGain offers a loan management system to financial technology (fintech) companies, as well as other businesses that want to offer lending services. 

Startup inGain plans to use the money to finish work on a no-code self-service platform where every interested company could create a lending tool that best suits their products and needs.

“We have invested in a great product with a sound team behind it,” says a partner in the lead investor Trind VC, Reima Linnanvirta. “The inGain team has an extensive background in the industry, and they understand the customer pain points exceptionally well. When reviewing the product, we were impressed by how extensive the product was and how the team has been able to transform something that is generally done as custom development into a no-code SaaS solution. As the existing solutions on the market are very old-fashioned, we believe that InGain is well-positioned to disrupt and secure a significant share of that market.”

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