The loan will help Noviti expand its digital lending services to Polish MSMEs, increasing businesses’ access to financing across the country, the EBRD said on Wednesday.
Founded in 2016, Noviti provides non-bank lending services on a fully digital platform, offering fast and convenient microloan solutions for MSME companies.
The company’s headquarters is in Vilnius, it operates in Lithuania and Latvia, and from 2023 it is expanding to Poland.
“Although Poland has an advanced and vibrant banking system, some small businesses, including women-led and regional MSMEs, still struggle to access traditional banking services. Noviti aims to reduce this funding gap by directing at least 40% of EBRD’s investment in women-led MSMEs while maintaining a minimum of 75 percent of its regional portfolio outside of Warsaw,” the statement said.
The EBRD is also supporting Noviti in improving its cyber security management and processes through the implementation of the ISO 27001 standard with funding from Taiwan.
This investment is also in line with the EBRD’s priorities in Poland – to support the competitiveness of Polish companies through innovation and the development of new digital and fintech products.
“By supporting alternative lenders such as Noviti, the EBRD aims to make financing more accessible, especially to underserved market segments, and to strengthen the resilience of the Polish MSME ecosystem,” the statement said.
EBRD is one of the main institutional investors in Poland. Since the start of operations in the country in 1991, the bank has invested more than 14 billion. euros to 532 projects.
Last year, the EBRD invested a record 1.3 billion in Poland. amount of euros.
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**Interview with Alexei Petrov, CEO of Noviti**
**Editor**: Thank you for joining us today, Alexei. The EBRD recently provided Noviti with a significant loan to support your expansion into Poland. Can you tell us more about how this loan will benefit Polish MSMEs?
**Alexei Petrov**: Absolutely, and thank you for having me. The loan from EBRD is crucial for us as it will empower Noviti to expand our digital lending services specifically tailored for Polish Micro, Small, and Medium Enterprises (MSMEs). Our goal is to bridge the financing gap that many small businesses face, particularly those that are underserved by traditional banks.
**Editor**: That’s interesting. You mentioned that some segments, like women-led and regional MSMEs, struggle to access banking services. Can you elaborate on how Noviti plans to support these specific groups?
**Alexei Petrov**: Yes, while Poland has a robust banking system, not every small business can navigate it easily. We are committed to directing at least 40% of the EBRD’s investment specifically towards women-led businesses and regional MSMEs. This is vital because these enterprises often have great potential but lack access to the necessary funding to thrive.
**Editor**: Noviti has been around since 2016 and operates in Lithuania and Latvia. What prompted the decision to expand to Poland now?
**Alexei Petrov**: Our research indicated that the Polish market has a vibrant entrepreneurial spirit, yet many small businesses are still facing financing challenges. This gap presents an opportunity for Noviti to provide our fully digital microloan services, making access to funds faster and more convenient, especially for those who have previously been denied by traditional lenders.
**Editor**: Looking ahead, what do you think is the bigger picture for digital lending in the region?
**Alexei Petrov**: Digital lending is revolutionizing the way MSMEs access finances. With our technology-driven approach, we can assess credit risk quickly and efficiently, allowing us to provide loans at an unprecedented speed. I believe this will not only transform the financial landscape in Poland but also encourage other innovative players to enter the market, ultimately leading to a more inclusive financial system.
**Editor**: Thank you so much for sharing your insights, Alexei. We look forward to seeing how Noviti impacts the Polish MSME market.
**Alexei Petrov**: Thank you! We’re excited to be part of this journey and make a real difference in the lives of many entrepreneurs.
