3 reasons why Mozaic invested in Fagura

We at Mozaic invest in the most promising founders & connect with smart capital investors and experts to help them build, scale their startup and change the world for the better.

Meet our Portfolio Company Fagura, designed to empower SMEs by facilitating crowdlending opportunities through investments from retail investors. The platform uses algorithms to assess loan applications and manage risk, providing a secure and efficient way for businesses to access funding and for investors to earn returns.

Here are three reasons why we’re excited about Fagura.

Reason #1. Strong Team with Serial Entrepreneurs

The strongest reason for Mozaic Investment in Fagura is the depth of expertise within its leadership team. The core team has years of experience working together and a track record of successful exits. The startup has 15+ team members with offices in Chisinau and Bucharest. Meet some of them:

• Tudor Darie, CEO, has over 5 years of experience in fintech, developed a deep understanding of the market needs, the regulatory framework, and the technological innovation in the FinTech sector. He is also a serial IT entrepreneur with a track record of successful investments and exits in online media, e-commerce, and online advertising. 
• Cristian Pasa, COO, previously a Regional Relationship Manager at Bloomberg, brings strong business and analytical skills crucial for Fagura’s development and scaling efforts. He is also a Board Member of the Romanian Fintech Association.
• Sandru Camerzan, CTO, has over 15 years in web development. This technical expertise ensures Fagura is well-equipped to handle the complexities of fintech platform development.
• Dumitru Ciorici, CBDO, adds significant media and business development experience, notably through his role as a consultant and as Director media company. His industry connections and insight into startup growth strategies will support Fagura’s expansion plans.

The combined skill set of this team positions Fagura for effective execution in a competitive, regulated environment.

Reason #2. Market Opportunity

Fagura’s entrance into the market comes at a time when SMEs in Eastern Europe are facing unprecedented financing hurdles. Around 99.7% of businesses in Romania and Moldova are SMEs [1], which collectively face an estimated €46 billion funding gap across CEE. 

Access to finance remains extremely limited, with only about 16.3% of Romanian entrepreneurs relying on bank loans to meet their financial needs in 2022 [2]. This difficulty arises mainly due to strict collateral requirements, lengthy approval processes, and high rejection rates. As a result, many SMEs are forced to turn to alternative lenders at higher costs which can range between 20-50% interest rates, adding significant pressure on businesses already constrained by high operating costs. Traditional banks and microfinance institutions (MFI) dominate the SME financing space, but they present notable challenges for small businesses in need of accessible funding.

Fagura’s platform overcomes these barriers by offering an accessible, transparent, and user-centered alternative.

Unlike banks, which often require extensive paperwork and weeks for approval, Fagura’s digital platform simplifies the process, allowing SMEs to complete their applications online in minutes and receive instant credit decisions. Traditional bank loans can impose high collateral demands, making it difficult for small businesses without substantial assets to qualify. Fagura eliminates these barriers, offering an affordable entry point with a starting interest rate of 6.9%, significantly lower than the rates typically charged by MFIs, which usually exceed 20%.

Additionally, while MFIs tend to include various hidden fees and complex pricing structures, Fagura’s fee model is straightforward and transparent, giving borrowers clear insight into the total cost of their loans without unexpected add-ons. 

Moreover, Fagura’s European crowdfunding license provides a substantial competitive advantage, enabling the platform to operate seamlessly across EU borders. Furthermore, authorization from the National Bank of Moldova to act as a Payment Agent for Paynet, a leading e-money company in RM, opens new possibilities in the payments segment.

Reason #3. Traction and Expansion Plans

We’re excited about the market traction that Fagura demonstrates:

• 7.5M EUR loans intermediated
• 2.4M EUR current active loans
• 1.2M EUR interest paid to investors
• 35K+ user accounts
• 230+ SMEs funded

Moreover, Fagura is defining a new strategic direction which includes sustainable growth, a positive economic impact, and the consolidation of Fagura’s position as a leader in providing personalized financial solutions.

Fagura’s Mission is to empower 1 million entrepreneurs through a financial ecosystem that provides instant access to capital and personalized resources for business development.”

This direction allows Fagura to address the real needs of micro-enterprises and freelancers, offering personalized and accessible support. Integrating innovative technologies will ensure competitive positioning and the scalability needed to achieve long-term growth and development objectives through offering integrated financial services such as quick online lending, investments, business accounts, business cards, electronic signatures, AI Financial Director, AI Business Consultant, automated accounting integration, and other support services.

If you are an early-stage startup founder building a company and seeking to raise funds, please find out our Investment Thesis.