Creamfinance

Creamfinance is a financial services company providing paperless loans as well as other financial products. The company uses technology to automate as much of its process to speed up its lending to consumers. Utilizing algorithms and machine-learning capabilities as well as using data to quickly evaluate, score, and make short-term loans to its customers Creamfinance offers-customized approach to the personal loan. The company employs over 200 people across 9 countries and is among the top 5 largest online lenders in Europe
History
The company was co-founded in 2012 by Matiss Ansviesulis and Davis Barons.
In 2014 Creamfinance raised 5 million euros from an international venture capital fund Flint Capital, based in Silicon Valley and focusing on FinTech and mobile technologies investing across US, Israel and Europe.
At the end of 2015 Creamfinance relocated its headquarters from Riga, Latvia to a spacious building at the epicentre of the financial district in Warsaw, Poland. The company uses an “innovative credit scoring approach” to offer rapid credit solutions in five European markets - Poland, Latvia, Czech Republic, Slovakia and Georgia. Creamfinance lends money off its own balance sheet, rather than operating a marketplace lending programme. The company operates through a number of different local platforms, such as creditOn.lv and ladyloan.lv in Latvia.
Target customers
Creamfinance customers are individuals in need of additional money. A great amount of first-time borrowers do so due to an emergency or unexpected expense. The typical borrower is a 25-40 year old employed individual with an average income who uses the service to cover ordinary living expenses and/or unexpected emergencies. On average, customers take a loan worth €200 with the term of 28 days. Up to this point, Creamfinance have already served nearly 200,000 customers across the markets it operates in.
Brands
Creamfinance is the parent company of CreditOn, LendOn, and CreditOne brands, offering financial products to customers in Latvia, the Czech Republic, Poland, Georgia and Slovakia.
Investors
In 2014 the company raised €5 million from Flint Capital, investing across US, Israel and Europe in Mobile, SaaS, Advertisement, Financial and Educational Technologies as well as Security and Enterprise sectors.<ref name=":0"/>
In 2015 Creamfinance also raised debt financing from investment funds dedicated to marketplace lending (Blackmoon Financial Group) as well as a public bond issue on the Warsaw Stock Exchange.<ref name="Ewan"/>

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