SalaryFits raises €1.25 million
United Kingdom / Tuesday / 11th October / 2016
Sustainable credit startup SalaryFits raises €1.25 million from Portugal 2020
October 11, LONDON – SalaryFits, the platform which makes sustainable credit a reality, has received funding of €1.25 million from Portugal2020 to work together over the next two years on improving the financial landscape and access to its products, in markets such as Portugal, Spain and Italy.
SalaryFits is part of a global spinoff project based on one of the most successful cases that disrupted Brazilian credit market. The project, that has recently been brought to international scale, relies on a patented platform that has been improved for over 15 years now.
Salaryfits is a platform that allows financial institutions to integrate their systems with payroll information of clients, providing access to a new risk assessment tool, enabling the possibility of deducting instalments directly from a client’s salary.
Portugal 2020 is a partnership agreement between Portugal and the European Commission which brings together five European Structural and Investment Funds (ESIFs) – FEDER, Fundo de Coesão, FSE, FEADER and FEAMP – to stimulate growth and job creation in the country.
The funds from the programme will be used to promote – within the financial consumer market – social inclusion, employment and sustainability.
Salaryfits, which has established an operation in UK, at Level39, since March 2016, is consistently expanding internationally, with initiatives being carried out in Italy, Portugal and an exciting pilot project being launched in India during the BRICS meeting in October, 2016.
“We are confident on the potential of the solution for promoting financial health and inclusion in Europe. Having the support of an initiative such as Portugal 2020 is something relevant, and attests the commitment of the whole team with our aim to contribute to the improvement of the financial landscape within the next years,” says Delber Lage, CEO, Salaryfits UK.
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Main channel released: Level 39 – “SalaryFits raises €1.25 million”