Stikcredit

Idea

Introduction

We are on a mission to simplify the process of getting a loan for the underbanked customer by making it as affordable, convenient and quick as possible – as easy as a couple of clicks. We do this by combining great technology with great talent.

Founded in 2013 as a lending company for the underbanked, Stikcredit built a successful national branch network of around 30 offices. The founders quickly realised the huge potential of the online lending business and pivoted their growth strategy to online lending.

Since then we have transformed Stikcredit into a leading FinTech organization and we have developed our proprietary state-of-art software system. The digital culture is embedded into our DNA.

We designed a loan application process which is quick, fully transparent and any customer with a smart phone, desktop computer or tablet can access our website from the comfort of their home, workplace or on the go.

Stilkcredit is authorised and regulated by the BNB in Bulgaria.

Substantial accomplishments to date

We have so far demonstrated excellent financial and business results and we are confident that we can scale our business further. We are seeking external funding because we want to accelerate our success and make you part of it!

● We are profitable since inception and we generated a 1.8m EUR pre-tax profit for 2019.

● We grew our customer base from zero to over 15,000 active customers and over 140,000 unique registered customers.

● Granted over 26 million euro in loans since inception and over 30,000 loans in 2019 alone!

● In the 7 years of operation we managed to build an in-house software system which is highly automated and allows for near instant decision making.

● We've integrated machine learning into our scoring process.

● We've built a modern customer-centric website and optimized it for maximum conversion. Accessible on desktop, mobile and tablet.

Monetisation strategy

We charge our borrowers interest for the loan we have extended to them, in addition to other fees related to late payment and collection.

On average, we recover 34% on top of the extended loan within 24 months post issuance.

We have proven that our prudential management, strict fiscal policy and quick decisions bring results. Even in the covid-19 pandemic, which led to unforeseen and negative economic events, Stikcredit generated positive cashflow from operations and remained profitable.

Based on our research we estimate the available and addressable market size as follows:

Use of proceeds

We are proud that we have built a robust and profitable company. Stikcredit is currently well funded, however, we want to reach the next stage of our development and scale our business even further. This funding round will support our growth ambitions and will be used as follows:

● Product development – we want to expand our team of professionals in IT and digital marketing to help us scale operations and to further improve our internal systems.

● Marketing – add new marketing channels, increase budgets to speed up customer acquisition, improve brand awareness and lead generation.

● Working capital needs.

Please note that the share price for this round is €1,969. Due to this high share price, we have decided to allow investors to hold fractional shares. This means that we have reduced the investment multiple to €19.69 (representing 1/100th of a share), with the minimum investment being €19.69. As these shares will be held via the Seedrs Nominee, fractional entitlements are possible. In the event that shares were to be transferred out of the nominee structure, Stikcredit would take the steps required to subdivide its shares so that fractional entitlements result in whole shares.