OREANDA-NEWS. SORAINEN Lithuania advised FinBee, one of the leading peer-to-peer (P2P) lending platform operators in Lithuania, on structuring funds handling procedure using only a bank deposit account and acting as a financial intermediary for Citadele Bank.

FinBee became the first P2P platform directly using a bank deposit account for funds handling services in Lithuania. The new funds handling model will increase security for P2P investors and ensure the quality of services provided by FinBee. The funds handling model applied by FinBee meets the most commonly known funds handling structures in the EU and the US.

FinBee has recently celebrated its first half-year and the results are promising: it has disbursed credits amounting to EUR 622,000; it has 1,500 investors; and the average interest rate for investors is 28%. FinBee predicts that their portfolio in 2016 will reach EUR 3 million.

SORAINEN not only structured the money handling procedure but also helped FinBee to prepare the necessary documents to become a financial intermediary in addition to representing the company in communication with Citadele Bank.

The SORAINEN team was led by partner Tomas Kontautas and associate Art?ras Asakavi?ius.