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Debitum Network Receives Financial Community Support for Platform Meant to Bridge SME Financing Gap

A Lithuanian startup presents a blockchain-based solution to small business financing problem at an event in Vilnius, after raising 18 mln USD in ICO crowdsale

Sep 14, 2018 – Vilnius, Lithuania On August 23rd, European crypto community members and Lithuanian finance professionals gathered in Vilnius Blockchain center to test an ambitious alternative financing ecosystem – Debitum Network. The platform has raised nearly 18 mln USD during the ICO sale this February and is officially launching its new platform, known as Abra 1.0, on September 3rd.

According to founders of the platform, Debitum Network does not seek to compete with traditional banking – instead, they hope to enhance the current financing market with a  mission to foster growth of small and medium enterprises (SMEs), a sector highly dependent on timely financial assistance.

“We do not consider other fintech startups or traditional banks to be our competitors – we invite them to partner with us and hope to create a better future for SMEs together. All of us work towards the same goal – to allow entrepreneurs to be in charge of their companies and get the funds they need in a timely manner,” said Martins Liberts, the visionaire and co-founder at Debitum Network.

Based on the World Bank data, SME sector has the potential to grow from $34 billion USD to $90 billion by 2020, yet current funding restricts the growth.

During the event, the Vice Minister of Economy and Innovation of Lithuania Elijus Civilis reiterated the importance of alternative financing means: “The SME funding gap is a global problem. In such countries as Lithuania, where small enterprises are the main economy drivers, projects like Debitum Network are crucial.“

Debitum Network, a platform that connects businesses, investors and services, solves one of the biggest problems that hinders the SME ecosystem from reaching its full potential – streamlining access to the necessary business loans when they are needed the most.

While banks face strong regulative obstacles when issuing business loans, by using Debitum Network investors can simply log in, deposit the amount they want to invest, choose assets from a list and expect to earn 10-15% annual interest.

Platform-testing event attendees praised Debitum Network’s team for delivering on their promise to the investors and launching a product in just 6 months since their fundraising has commenced.

CEO of the Blockchain Center Vilnius Egle Nemeikštyte said that Debitum Network not only sets a good example for other startups, but also proves a point to the blockchain sceptics. “Debitum Network were the first in Vilnius Blockchain Center community to show  blockchain applicability in fintech industry, and were the fastest to raise capital and launch their product. They proved that blockchain fintech projects can keep their promises, stick to deadlines and be efficient,” said Nemeikštyte.

Registration is now open for investors, borrowers and service providers on an innovative new finance platform Debitum Network, officially launching on September 3rd, 2018.

Event highlights and insights about the platform were captured by Blockchain Crypto News by New Kids on the Blockchain.

ABOUT DEBITUM NETWORK

Debitum Network is an innovative hybrid ecosystem for small business financing. It’s an independent, transparent and decentralized alternative financing eco-system which provides opportunity for businesses to acquire capital and fulfill their needs for financing and growth using light technology via blockchain.

For more info visit http://debitum.network  

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