InRento is a financial technology company supervised by the Bank of Lithuania and is required to meet capital adequacy requirements, which the Bank of Lithuania monitors through its reporting. Since 2020 InRento has also raised venture capital from 3 institutional investors in order to accelerate its growth.
In simple terms, it means that InRento has raised investment to develop a technological product and to carry out expansion into foreign countries. We raised these investments in a planned way and used them to open up the Spanish and Polish markets and, consequently, unlike other crowdfunding companies, during periods of uncertainty such as the Covid pandemic and the start of the war in Ukraine, we were not forced to finance deals of questionable credibility and had the luxury of financing only the highest level of credible projects.
This can be seen in our results. We stand out amongst our peers in Lithuania because we do not have a single late project, and we have the highest average annual return, which is now over 13%, you can find full statistics here. In addition, during the period, we acquired two foreign platforms to accelerate overseas expansion.
We have now decided to increase the company's share capital to EUR 694,673.74. This decision has been registered, and InRento's share capital now amounts to EUR 694,673.74.
InRento acts as an intermediary and expert in sourcing financing applications investments. Investment agreements are concluded directly between investors and project owners. That means that any other administrator or financial institution could take over administration of outstanding loans.