Fagura

Fagura is a cross-border peer-to-peer lending marketplace originating from Moldova and now headquartered in Bucharest, Romania. In November 2024 it became the first Moldovan platform to secure the European Crowdfunding Service Provider (ECSP) licence, issued by the National Financial Market Commission (CNPF), which allows it to intermediate loans across the EU under a single regulatory framework. Both private individuals and legal entities with a SEPA-compatible bank account can open an investor account. 

The Fagura community now exceeds 4,000 active investors and borrowers. Since its launch in May 2019, Fagura has channelled more than €11.37 million to nearly 3,000 loans. In the last 12 months alone (to 30 June 2025) it facilitated €4.63 million in funding—an average of €0.39 million per month—marking a year-on-year growth of about 38 percent.^[1]

• Minimum investment is €25 in unsecured consumer and SME loans from Moldova and Romania.
• Borrower coupons span 6.5% – 39% (average 22%) and Fagura guides seasoned investors to 10% net after fees and expected defaults.
• About 20% of the live portfolio is currently in arrears or recovery, alongside a 2.5% servicing fee on every repayment.
• Loans run 12 – 60 months with monthly amortisation with early exit possible via a secondary market (2.5% seller fee).
• Fagura has raised €2.4 m from two Seedrs campaigns, and through venture capital by U.Ventures and Mozaic Ventures.

Fagura connects investors with SME businesses and individuals in Moldova and Romania seeking to borrow money. The platform currently lists three core loan categories:

• Personal (consumer) loans – refinancing credit-card debt, home improvements, car purchases and other household needs.
• SME business loans – working-capital, equipment or expansion financing for limited-liability companies and sole traders, with ticket sizes of up to €20 000.
• Grant co-financing loans – bridging contributions that help entrepreneurs match public or EU grant programmes before the subsidy is disbursed.^[2]

Fagura runs two legally distinct sites to reflect local regulation. Fagura.com serves Moldova and finances both consumers and businesses with loans of up to €25 000, while Fagura.ro is reserved for Romanian SMEs and caps loan size at €7 500. Because of portfolio mix, investors on the Moldovan marketplace are told to expect roughly 12 – 18% p.a., whereas Romanian-only investors typically see 10 – 16% p.a.^[3]

Investors can fund a note with as little as €25; non-sophisticated investors are capped at €25–€200 per consumer loan and €25–€500 per business loan, while sophisticated investors may place up to €2,500 in any loan.^[4] A free Auto Invest engine checks idle balances up to four times daily and deploys funds that match the investor’s filters.^[5]

Most loans run for 12 – 60 months and amortise in equal monthly instalments of principal and interest. Each request is listed for up to 14 days; if it is fully funded, the borrower signs digitally and receives the money, otherwise the offer may lapse or be accepted partially.^[6] Once a borrower pays, Fagura credits investors’ accounts within two business days.^[7]

Across the entire loan book Fagura reports an average nominal borrower rate of 22.47 %, and since May 2019 it has distributed €1.86 million in interest to investors on 3,027 funded loans but the platform does not publish a historical net return figure for lenders. As of 30 June 2025 the €5.35 million active portfolio is performing as follows: 73.50 % of loans are current, 2.45 % are in a grace period, and 20.03 % are late or in forced collection (8.95 % 4–30 days late, 3.47 % 31–60 days late, 6.71 % >60 days late, 1.90 % in legal recovery).^[8] The Fagura’s help-centre guidance however suggests that after deducting the 2.5 % servicing fee and allowing for credit losses a seasoned, well-diversified portfolios can earn around 10 % per year net of costs.^[9]

Investors pay a 2.5% servicing fee on each repayment, a 2.5% seller’s fee when exiting early on the secondary market, and a flat €1 withdrawal fee; recoveries of instalments more than 30 days late incur a 5% collection fee. The secondary market lets holders sell entire positions or partial slices to other users, giving a liquidity option that the primary market lacks. All loans are unsecured and carry no buy-back guarantee, so investors bear the underlying credit risk, which Fagura seeks to mitigate through its scoring, diversification limits and recovery process.^[10][11] There are no account-opening, deposit, Auto-Invest or buyer-side secondary-market charges, and Fagura does not withhold tax on investor earnings.

Fagura was founded and is led by Tudor Darie, a serial tech-media entrepreneur who has headed the marketplace since 2017. Before launching Fagura, Darie ran several online media ventures at New Media Grup and Interakt and today sits on the board of the Romanian Fintech Association, bringing more than five years of dedicated fintech experience to the role.

Cristian Pasa, Chief Operating Officer, joined Fagura after almost five years as a Regional Relationship Manager at Bloomberg LP, where he covered financial-institution clients across Central and Eastern Europe. He now oversees daily operations and strategic partnerships and also serves as a board member of the Romanian Fintech Association.

Technical development is directed by Sandu Camerzan, Chief Technology Officer, who brings more than fifteen years of web-development experience. Camerzan previously founded the software studio CamLab and worked as a Drupal architect at OPTASY before taking charge of Fagura’s platform architecture in mid-2019.

Financial stewardship rests with Natalia Casian, Fagura’s Chief Financial Officer. Casian has over a decade of accounting and audit experience, including senior posts at Grant Thornton Moldova, and is responsible for budgeting, reporting and regulatory compliance.

Fagura has completed four disclosed fundraising rounds totalling €2.4 million. Their first public crowdfunding campaign raised €342 k on Seedrs in May 2021 (170 % of target),^[12] €781 k in a second Seedrs campaign in January 2023, ^[13] a €250 k bridge ticket from U.Ventures in October 2024, ^[14] and a €1 million convertible-note round in November 2024 led by U.Ventures and Mozaic Ventures with several business-angel co-investors.^[15]

Latest publicly available accounts show that both operating vehicles remain loss-making: the Romanian entity Fagura Finance SRL booked no turnover and a net loss of RON 330,668 (~€67 k) in 2023, with liabilities rising to RON 241,873.^[16] The latest audited statements for the Moldovan operating vehicle, OCN “Fagura Marketplace” SRL, show total assets of MDL 43.77 million, equity of MDL 2.04 million and a net loss of MDL 133,545 for FY 2023 (≈ €2.24 million in assets and a €7 k loss).^[17]

1. P2PMarketdata: “Fagura Statistics”
2. Fagura: “Online financing for small businesses with big ambitions”
3. Fagura: “What are the main differences between fagura.com and fagura.ro?”
4. Fagura: “What is the minimum and maximum investment for a single loan?”
5. Fagura: “Automatic Investments”
6. Fagura: “What are the periods for which loans can be requested and what do monthly payments contain?”
7. Fagura: “How is the receipt of payments from borrowers taking place?”
8. Fagura: “Statistics”
9. Fagura: “How is it possible for investors to receive an average annual return of 10% when loans are granted at an interest rate starting from 12.4% per year?”
10. Fagura: “What fees and taxes do the investors pay?”
11. Fagura: “Fees on the Secondary Market”
12. Republic Europe: “Crowdfunding to become a benchmark in your industry”
13. Fagura: “Fagura raised 780,000 Euros in equity investments in its second round on Seedrs”
14. Fagura: “Fagura secures €250,000 Investment from U.Ventures”
15. The Recursive: “Romanian-Moldovian Fagura Raises €1 Million for Their Digital Financial Ecosystem”
16. Lista Firme: “Fagura Finance SRL”
17. Fagura: “Annual Report O.C.N. Fagura Marketplace S.R.L. (01.01.2023-31.12.2023)”

Fagura is a cross-border peer-to-peer lending marketplace originating from Moldova and now headquartered in Bucharest, Romania. In November 2024 it became the first Moldovan platform to secure the European Crowdfunding Service Provider (ECSP) licence, issued by the National Financial Market Commission (CNPF), which allows it to intermediate loans across the EU under a single regulatory framework. Both private individuals and legal entities with a SEPA-compatible bank account can open an investor account. 

The Fagura community now exceeds 4,000 active investors and borrowers. Since its launch in May 2019, Fagura has channelled more than €11.37 million to nearly 3,000 loans. In the last 12 months alone (to 30 June 2025) it facilitated €4.63 million in funding—an average of €0.39 million per month—marking a year-on-year growth of about 38 percent.^[1]

• Minimum investment is €25 in unsecured consumer and SME loans from Moldova and Romania.
• Borrower coupons span 6.5% – 39% (average 22%) and Fagura guides seasoned investors to 10% net after fees and expected defaults.
• About 20% of the live portfolio is currently in arrears or recovery, alongside a 2.5% servicing fee on every repayment.
• Loans run 12 – 60 months with monthly amortisation with early exit possible via a secondary market (2.5% seller fee).
• Fagura has raised €2.4 m from two Seedrs campaigns, and through venture capital by U.Ventures and Mozaic Ventures.

Fagura connects investors with SME businesses and individuals in Moldova and Romania seeking to borrow money. The platform currently lists three core loan categories:

• Personal (consumer) loans – refinancing credit-card debt, home improvements, car purchases and other household needs.
• SME business loans – working-capital, equipment or expansion financing for limited-liability companies and sole traders, with ticket sizes of up to €20 000.
• Grant co-financing loans – bridging contributions that help entrepreneurs match public or EU grant programmes before the subsidy is disbursed.^[2]

Fagura runs two legally distinct sites to reflect local regulation. Fagura.com serves Moldova and finances both consumers and businesses with loans of up to €25 000, while Fagura.ro is reserved for Romanian SMEs and caps loan size at €7 500. Because of portfolio mix, investors on the Moldovan marketplace are told to expect roughly 12 – 18% p.a., whereas Romanian-only investors typically see 10 – 16% p.a.^[3]

Investors can fund a note with as little as €25; non-sophisticated investors are capped at €25–€200 per consumer loan and €25–€500 per business loan, while sophisticated investors may place up to €2,500 in any loan.^[4] A free Auto Invest engine checks idle balances up to four times daily and deploys funds that match the investor’s filters.^[5]

Most loans run for 12 – 60 months and amortise in equal monthly instalments of principal and interest. Each request is listed for up to 14 days; if it is fully funded, the borrower signs digitally and receives the money, otherwise the offer may lapse or be accepted partially.^[6] Once a borrower pays, Fagura credits investors’ accounts within two business days.^[7]

Across the entire loan book Fagura reports an average nominal borrower rate of 22.47 %, and since May 2019 it has distributed €1.86 million in interest to investors on 3,027 funded loans but the platform does not publish a historical net return figure for lenders. As of 30 June 2025 the €5.35 million active portfolio is performing as follows: 73.50 % of loans are current, 2.45 % are in a grace period, and 20.03 % are late or in forced collection (8.95 % 4–30 days late, 3.47 % 31–60 days late, 6.71 % >60 days late, 1.90 % in legal recovery).^[8] The Fagura’s help-centre guidance however suggests that after deducting the 2.5 % servicing fee and allowing for credit losses a seasoned, well-diversified portfolios can earn around 10 % per year net of costs.^[9]

Investors pay a 2.5% servicing fee on each repayment, a 2.5% seller’s fee when exiting early on the secondary market, and a flat €1 withdrawal fee; recoveries of instalments more than 30 days late incur a 5% collection fee. The secondary market lets holders sell entire positions or partial slices to other users, giving a liquidity option that the primary market lacks. All loans are unsecured and carry no buy-back guarantee, so investors bear the underlying credit risk, which Fagura seeks to mitigate through its scoring, diversification limits and recovery process.^[10][11] There are no account-opening, deposit, Auto-Invest or buyer-side secondary-market charges, and Fagura does not withhold tax on investor earnings.

Fagura was founded and is led by Tudor Darie, a serial tech-media entrepreneur who has headed the marketplace since 2017. Before launching Fagura, Darie ran several online media ventures at New Media Grup and Interakt and today sits on the board of the Romanian Fintech Association, bringing more than five years of dedicated fintech experience to the role.

Cristian Pasa, Chief Operating Officer, joined Fagura after almost five years as a Regional Relationship Manager at Bloomberg LP, where he covered financial-institution clients across Central and Eastern Europe. He now oversees daily operations and strategic partnerships and also serves as a board member of the Romanian Fintech Association.

Technical development is directed by Sandu Camerzan, Chief Technology Officer, who brings more than fifteen years of web-development experience. Camerzan previously founded the software studio CamLab and worked as a Drupal architect at OPTASY before taking charge of Fagura’s platform architecture in mid-2019.

Financial stewardship rests with Natalia Casian, Fagura’s Chief Financial Officer. Casian has over a decade of accounting and audit experience, including senior posts at Grant Thornton Moldova, and is responsible for budgeting, reporting and regulatory compliance.

Fagura has completed four disclosed fundraising rounds totalling €2.4 million. Their first public crowdfunding campaign raised €342 k on Seedrs in May 2021 (170 % of target),^[12] €781 k in a second Seedrs campaign in January 2023, ^[13] a €250 k bridge ticket from U.Ventures in October 2024, ^[14] and a €1 million convertible-note round in November 2024 led by U.Ventures and Mozaic Ventures with several business-angel co-investors.^[15]

Latest publicly available accounts show that both operating vehicles remain loss-making: the Romanian entity Fagura Finance SRL booked no turnover and a net loss of RON 330,668 (~€67 k) in 2023, with liabilities rising to RON 241,873.^[16] The latest audited statements for the Moldovan operating vehicle, OCN “Fagura Marketplace” SRL, show total assets of MDL 43.77 million, equity of MDL 2.04 million and a net loss of MDL 133,545 for FY 2023 (≈ €2.24 million in assets and a €7 k loss).^[17]

1. P2PMarketdata: “Fagura Statistics”
2. Fagura: “Online financing for small businesses with big ambitions”
3. Fagura: “What are the main differences between fagura.com and fagura.ro?”
4. Fagura: “What is the minimum and maximum investment for a single loan?”
5. Fagura: “Automatic Investments”
6. Fagura: “What are the periods for which loans can be requested and what do monthly payments contain?”
7. Fagura: “How is the receipt of payments from borrowers taking place?”
8. Fagura: “Statistics”
9. Fagura: “How is it possible for investors to receive an average annual return of 10% when loans are granted at an interest rate starting from 12.4% per year?”
10. Fagura: “What fees and taxes do the investors pay?”
11. Fagura: “Fees on the Secondary Market”
12. Republic Europe: “Crowdfunding to become a benchmark in your industry”
13. Fagura: “Fagura raised 780,000 Euros in equity investments in its second round on Seedrs”
14. Fagura: “Fagura secures €250,000 Investment from U.Ventures”
15. The Recursive: “Romanian-Moldovian Fagura Raises €1 Million for Their Digital Financial Ecosystem”
16. Lista Firme: “Fagura Finance SRL”
17. Fagura: “Annual Report O.C.N. Fagura Marketplace S.R.L. (01.01.2023-31.12.2023)”

Fagura is a cross-border peer-to-peer lending marketplace originating from Moldova and now headquartered in Bucharest, Romania. In November 2024 it became the first Moldovan platform to secure the European Crowdfunding Service Provider (ECSP) licence, issued by the National Financial Market Commission (CNPF), which allows it to intermediate loans across the EU under a single regulatory framework. Both private individuals and legal entities with a SEPA-compatible bank account can open an investor account. 

The Fagura community now exceeds 4,000 active investors and borrowers. Since its launch in May 2019, Fagura has channelled more than €11.37 million to nearly 3,000 loans. In the last 12 months alone (to 30 June 2025) it facilitated €4.63 million in funding—an average of €0.39 million per month—marking a year-on-year growth of about 38 percent.^[1]

• Minimum investment is €25 in unsecured consumer and SME loans from Moldova and Romania.
• Borrower coupons span 6.5% – 39% (average 22%) and Fagura guides seasoned investors to 10% net after fees and expected defaults.
• About 20% of the live portfolio is currently in arrears or recovery, alongside a 2.5% servicing fee on every repayment.
• Loans run 12 – 60 months with monthly amortisation with early exit possible via a secondary market (2.5% seller fee).
• Fagura has raised €2.4 m from two Seedrs campaigns, and through venture capital by U.Ventures and Mozaic Ventures.

Fagura connects investors with SME businesses and individuals in Moldova and Romania seeking to borrow money. The platform currently lists three core loan categories:

• Personal (consumer) loans – refinancing credit-card debt, home improvements, car purchases and other household needs.
• SME business loans – working-capital, equipment or expansion financing for limited-liability companies and sole traders, with ticket sizes of up to €20 000.
• Grant co-financing loans – bridging contributions that help entrepreneurs match public or EU grant programmes before the subsidy is disbursed.^[2]

Fagura runs two legally distinct sites to reflect local regulation. Fagura.com serves Moldova and finances both consumers and businesses with loans of up to €25 000, while Fagura.ro is reserved for Romanian SMEs and caps loan size at €7 500. Because of portfolio mix, investors on the Moldovan marketplace are told to expect roughly 12 – 18% p.a., whereas Romanian-only investors typically see 10 – 16% p.a.^[3]

Investors can fund a note with as little as €25; non-sophisticated investors are capped at €25–€200 per consumer loan and €25–€500 per business loan, while sophisticated investors may place up to €2,500 in any loan.^[4] A free Auto Invest engine checks idle balances up to four times daily and deploys funds that match the investor’s filters.^[5]

Most loans run for 12 – 60 months and amortise in equal monthly instalments of principal and interest. Each request is listed for up to 14 days; if it is fully funded, the borrower signs digitally and receives the money, otherwise the offer may lapse or be accepted partially.^[6] Once a borrower pays, Fagura credits investors’ accounts within two business days.^[7]

Across the entire loan book Fagura reports an average nominal borrower rate of 22.47 %, and since May 2019 it has distributed €1.86 million in interest to investors on 3,027 funded loans but the platform does not publish a historical net return figure for lenders. As of 30 June 2025 the €5.35 million active portfolio is performing as follows: 73.50 % of loans are current, 2.45 % are in a grace period, and 20.03 % are late or in forced collection (8.95 % 4–30 days late, 3.47 % 31–60 days late, 6.71 % >60 days late, 1.90 % in legal recovery).^[8] The Fagura’s help-centre guidance however suggests that after deducting the 2.5 % servicing fee and allowing for credit losses a seasoned, well-diversified portfolios can earn around 10 % per year net of costs.^[9]

Investors pay a 2.5% servicing fee on each repayment, a 2.5% seller’s fee when exiting early on the secondary market, and a flat €1 withdrawal fee; recoveries of instalments more than 30 days late incur a 5% collection fee. The secondary market lets holders sell entire positions or partial slices to other users, giving a liquidity option that the primary market lacks. All loans are unsecured and carry no buy-back guarantee, so investors bear the underlying credit risk, which Fagura seeks to mitigate through its scoring, diversification limits and recovery process.^[10][11] There are no account-opening, deposit, Auto-Invest or buyer-side secondary-market charges, and Fagura does not withhold tax on investor earnings.

Fagura was founded and is led by Tudor Darie, a serial tech-media entrepreneur who has headed the marketplace since 2017. Before launching Fagura, Darie ran several online media ventures at New Media Grup and Interakt and today sits on the board of the Romanian Fintech Association, bringing more than five years of dedicated fintech experience to the role.

Cristian Pasa, Chief Operating Officer, joined Fagura after almost five years as a Regional Relationship Manager at Bloomberg LP, where he covered financial-institution clients across Central and Eastern Europe. He now oversees daily operations and strategic partnerships and also serves as a board member of the Romanian Fintech Association.

Technical development is directed by Sandu Camerzan, Chief Technology Officer, who brings more than fifteen years of web-development experience. Camerzan previously founded the software studio CamLab and worked as a Drupal architect at OPTASY before taking charge of Fagura’s platform architecture in mid-2019.

Financial stewardship rests with Natalia Casian, Fagura’s Chief Financial Officer. Casian has over a decade of accounting and audit experience, including senior posts at Grant Thornton Moldova, and is responsible for budgeting, reporting and regulatory compliance.

Fagura has completed four disclosed fundraising rounds totalling €2.4 million. Their first public crowdfunding campaign raised €342 k on Seedrs in May 2021 (170 % of target),^[12] €781 k in a second Seedrs campaign in January 2023, ^[13] a €250 k bridge ticket from U.Ventures in October 2024, ^[14] and a €1 million convertible-note round in November 2024 led by U.Ventures and Mozaic Ventures with several business-angel co-investors.^[15]

Latest publicly available accounts show that both operating vehicles remain loss-making: the Romanian entity Fagura Finance SRL booked no turnover and a net loss of RON 330,668 (~€67 k) in 2023, with liabilities rising to RON 241,873.^[16] The latest audited statements for the Moldovan operating vehicle, OCN “Fagura Marketplace” SRL, show total assets of MDL 43.77 million, equity of MDL 2.04 million and a net loss of MDL 133,545 for FY 2023 (≈ €2.24 million in assets and a €7 k loss).^[17]

1. P2PMarketdata: “Fagura Statistics”
2. Fagura: “Online financing for small businesses with big ambitions”
3. Fagura: “What are the main differences between fagura.com and fagura.ro?”
4. Fagura: “What is the minimum and maximum investment for a single loan?”
5. Fagura: “Automatic Investments”
6. Fagura: “What are the periods for which loans can be requested and what do monthly payments contain?”
7. Fagura: “How is the receipt of payments from borrowers taking place?”
8. Fagura: “Statistics”
9. Fagura: “How is it possible for investors to receive an average annual return of 10% when loans are granted at an interest rate starting from 12.4% per year?”
10. Fagura: “What fees and taxes do the investors pay?”
11. Fagura: “Fees on the Secondary Market”
12. Republic Europe: “Crowdfunding to become a benchmark in your industry”
13. Fagura: “Fagura raised 780,000 Euros in equity investments in its second round on Seedrs”
14. Fagura: “Fagura secures €250,000 Investment from U.Ventures”
15. The Recursive: “Romanian-Moldovian Fagura Raises €1 Million for Their Digital Financial Ecosystem”
16. Lista Firme: “Fagura Finance SRL”
17. Fagura: “Annual Report O.C.N. Fagura Marketplace S.R.L. (01.01.2023-31.12.2023)”

Fagura is a cross-border peer-to-peer lending marketplace originating from Moldova and now headquartered in Bucharest, Romania. In November 2024 it became the first Moldovan platform to secure the European Crowdfunding Service Provider (ECSP) licence, issued by the National Financial Market Commission (CNPF), which allows it to intermediate loans across the EU under a single regulatory framework. Both private individuals and legal entities with a SEPA-compatible bank account can open an investor account. 

The Fagura community now exceeds 4,000 active investors and borrowers. Since its launch in May 2019, Fagura has channelled more than €11.37 million to nearly 3,000 loans. In the last 12 months alone (to 30 June 2025) it facilitated €4.63 million in funding—an average of €0.39 million per month—marking a year-on-year growth of about 38 percent.^[1]

• Minimum investment is €25 in unsecured consumer and SME loans from Moldova and Romania.
• Borrower coupons span 6.5% – 39% (average 22%) and Fagura guides seasoned investors to 10% net after fees and expected defaults.
• About 20% of the live portfolio is currently in arrears or recovery, alongside a 2.5% servicing fee on every repayment.
• Loans run 12 – 60 months with monthly amortisation with early exit possible via a secondary market (2.5% seller fee).
• Fagura has raised €2.4 m from two Seedrs campaigns, and through venture capital by U.Ventures and Mozaic Ventures.

Fagura connects investors with SME businesses and individuals in Moldova and Romania seeking to borrow money. The platform currently lists three core loan categories:

• Personal (consumer) loans – refinancing credit-card debt, home improvements, car purchases and other household needs.
• SME business loans – working-capital, equipment or expansion financing for limited-liability companies and sole traders, with ticket sizes of up to €20 000.
• Grant co-financing loans – bridging contributions that help entrepreneurs match public or EU grant programmes before the subsidy is disbursed.^[2]

Fagura runs two legally distinct sites to reflect local regulation. Fagura.com serves Moldova and finances both consumers and businesses with loans of up to €25 000, while Fagura.ro is reserved for Romanian SMEs and caps loan size at €7 500. Because of portfolio mix, investors on the Moldovan marketplace are told to expect roughly 12 – 18% p.a., whereas Romanian-only investors typically see 10 – 16% p.a.^[3]

Investors can fund a note with as little as €25; non-sophisticated investors are capped at €25–€200 per consumer loan and €25–€500 per business loan, while sophisticated investors may place up to €2,500 in any loan.^[4] A free Auto Invest engine checks idle balances up to four times daily and deploys funds that match the investor’s filters.^[5]

Most loans run for 12 – 60 months and amortise in equal monthly instalments of principal and interest. Each request is listed for up to 14 days; if it is fully funded, the borrower signs digitally and receives the money, otherwise the offer may lapse or be accepted partially.^[6] Once a borrower pays, Fagura credits investors’ accounts within two business days.^[7]

Across the entire loan book Fagura reports an average nominal borrower rate of 22.47 %, and since May 2019 it has distributed €1.86 million in interest to investors on 3,027 funded loans but the platform does not publish a historical net return figure for lenders. As of 30 June 2025 the €5.35 million active portfolio is performing as follows: 73.50 % of loans are current, 2.45 % are in a grace period, and 20.03 % are late or in forced collection (8.95 % 4–30 days late, 3.47 % 31–60 days late, 6.71 % >60 days late, 1.90 % in legal recovery).^[8] The Fagura’s help-centre guidance however suggests that after deducting the 2.5 % servicing fee and allowing for credit losses a seasoned, well-diversified portfolios can earn around 10 % per year net of costs.^[9]

Investors pay a 2.5% servicing fee on each repayment, a 2.5% seller’s fee when exiting early on the secondary market, and a flat €1 withdrawal fee; recoveries of instalments more than 30 days late incur a 5% collection fee. The secondary market lets holders sell entire positions or partial slices to other users, giving a liquidity option that the primary market lacks. All loans are unsecured and carry no buy-back guarantee, so investors bear the underlying credit risk, which Fagura seeks to mitigate through its scoring, diversification limits and recovery process.^[10][11] There are no account-opening, deposit, Auto-Invest or buyer-side secondary-market charges, and Fagura does not withhold tax on investor earnings.

Fagura was founded and is led by Tudor Darie, a serial tech-media entrepreneur who has headed the marketplace since 2017. Before launching Fagura, Darie ran several online media ventures at New Media Grup and Interakt and today sits on the board of the Romanian Fintech Association, bringing more than five years of dedicated fintech experience to the role.

Cristian Pasa, Chief Operating Officer, joined Fagura after almost five years as a Regional Relationship Manager at Bloomberg LP, where he covered financial-institution clients across Central and Eastern Europe. He now oversees daily operations and strategic partnerships and also serves as a board member of the Romanian Fintech Association.

Technical development is directed by Sandu Camerzan, Chief Technology Officer, who brings more than fifteen years of web-development experience. Camerzan previously founded the software studio CamLab and worked as a Drupal architect at OPTASY before taking charge of Fagura’s platform architecture in mid-2019.

Financial stewardship rests with Natalia Casian, Fagura’s Chief Financial Officer. Casian has over a decade of accounting and audit experience, including senior posts at Grant Thornton Moldova, and is responsible for budgeting, reporting and regulatory compliance.

Fagura has completed four disclosed fundraising rounds totalling €2.4 million. Their first public crowdfunding campaign raised €342 k on Seedrs in May 2021 (170 % of target),^[12] €781 k in a second Seedrs campaign in January 2023, ^[13] a €250 k bridge ticket from U.Ventures in October 2024, ^[14] and a €1 million convertible-note round in November 2024 led by U.Ventures and Mozaic Ventures with several business-angel co-investors.^[15]

Latest publicly available accounts show that both operating vehicles remain loss-making: the Romanian entity Fagura Finance SRL booked no turnover and a net loss of RON 330,668 (~€67 k) in 2023, with liabilities rising to RON 241,873.^[16] The latest audited statements for the Moldovan operating vehicle, OCN “Fagura Marketplace” SRL, show total assets of MDL 43.77 million, equity of MDL 2.04 million and a net loss of MDL 133,545 for FY 2023 (≈ €2.24 million in assets and a €7 k loss).^[17]

1. P2PMarketdata: “Fagura Statistics”
2. Fagura: “Online financing for small businesses with big ambitions”
3. Fagura: “What are the main differences between fagura.com and fagura.ro?”
4. Fagura: “What is the minimum and maximum investment for a single loan?”
5. Fagura: “Automatic Investments”
6. Fagura: “What are the periods for which loans can be requested and what do monthly payments contain?”
7. Fagura: “How is the receipt of payments from borrowers taking place?”
8. Fagura: “Statistics”
9. Fagura: “How is it possible for investors to receive an average annual return of 10% when loans are granted at an interest rate starting from 12.4% per year?”
10. Fagura: “What fees and taxes do the investors pay?”
11. Fagura: “Fees on the Secondary Market”
12. Republic Europe: “Crowdfunding to become a benchmark in your industry”
13. Fagura: “Fagura raised 780,000 Euros in equity investments in its second round on Seedrs”
14. Fagura: “Fagura secures €250,000 Investment from U.Ventures”
15. The Recursive: “Romanian-Moldovian Fagura Raises €1 Million for Their Digital Financial Ecosystem”
16. Lista Firme: “Fagura Finance SRL”
17. Fagura: “Annual Report O.C.N. Fagura Marketplace S.R.L. (01.01.2023-31.12.2023)”

Fagura is a cross-border peer-to-peer lending marketplace originating from Moldova and now headquartered in Bucharest, Romania. In November 2024 it became the first Moldovan platform to secure the European Crowdfunding Service Provider (ECSP) licence, issued by the National Financial Market Commission (CNPF), which allows it to intermediate loans across the EU under a single regulatory framework. Both private individuals and legal entities with a SEPA-compatible bank account can open an investor account. 

The Fagura community now exceeds 4,000 active investors and borrowers. Since its launch in May 2019, Fagura has channelled more than €11.37 million to nearly 3,000 loans. In the last 12 months alone (to 30 June 2025) it facilitated €4.63 million in funding—an average of €0.39 million per month—marking a year-on-year growth of about 38 percent.^[1]

• Minimum investment is €25 in unsecured consumer and SME loans from Moldova and Romania.
• Borrower coupons span 6.5% – 39% (average 22%) and Fagura guides seasoned investors to 10% net after fees and expected defaults.
• About 20% of the live portfolio is currently in arrears or recovery, alongside a 2.5% servicing fee on every repayment.
• Loans run 12 – 60 months with monthly amortisation with early exit possible via a secondary market (2.5% seller fee).
• Fagura has raised €2.4 m from two Seedrs campaigns, and through venture capital by U.Ventures and Mozaic Ventures.

Fagura connects investors with SME businesses and individuals in Moldova and Romania seeking to borrow money. The platform currently lists three core loan categories:

• Personal (consumer) loans – refinancing credit-card debt, home improvements, car purchases and other household needs.
• SME business loans – working-capital, equipment or expansion financing for limited-liability companies and sole traders, with ticket sizes of up to €20 000.
• Grant co-financing loans – bridging contributions that help entrepreneurs match public or EU grant programmes before the subsidy is disbursed.^[2]

Fagura runs two legally distinct sites to reflect local regulation. Fagura.com serves Moldova and finances both consumers and businesses with loans of up to €25 000, while Fagura.ro is reserved for Romanian SMEs and caps loan size at €7 500. Because of portfolio mix, investors on the Moldovan marketplace are told to expect roughly 12 – 18% p.a., whereas Romanian-only investors typically see 10 – 16% p.a.^[3]

Investors can fund a note with as little as €25; non-sophisticated investors are capped at €25–€200 per consumer loan and €25–€500 per business loan, while sophisticated investors may place up to €2,500 in any loan.^[4] A free Auto Invest engine checks idle balances up to four times daily and deploys funds that match the investor’s filters.^[5]

Most loans run for 12 – 60 months and amortise in equal monthly instalments of principal and interest. Each request is listed for up to 14 days; if it is fully funded, the borrower signs digitally and receives the money, otherwise the offer may lapse or be accepted partially.^[6] Once a borrower pays, Fagura credits investors’ accounts within two business days.^[7]

Across the entire loan book Fagura reports an average nominal borrower rate of 22.47 %, and since May 2019 it has distributed €1.86 million in interest to investors on 3,027 funded loans but the platform does not publish a historical net return figure for lenders. As of 30 June 2025 the €5.35 million active portfolio is performing as follows: 73.50 % of loans are current, 2.45 % are in a grace period, and 20.03 % are late or in forced collection (8.95 % 4–30 days late, 3.47 % 31–60 days late, 6.71 % >60 days late, 1.90 % in legal recovery).^[8] The Fagura’s help-centre guidance however suggests that after deducting the 2.5 % servicing fee and allowing for credit losses a seasoned, well-diversified portfolios can earn around 10 % per year net of costs.^[9]

Investors pay a 2.5% servicing fee on each repayment, a 2.5% seller’s fee when exiting early on the secondary market, and a flat €1 withdrawal fee; recoveries of instalments more than 30 days late incur a 5% collection fee. The secondary market lets holders sell entire positions or partial slices to other users, giving a liquidity option that the primary market lacks. All loans are unsecured and carry no buy-back guarantee, so investors bear the underlying credit risk, which Fagura seeks to mitigate through its scoring, diversification limits and recovery process.^[10][11] There are no account-opening, deposit, Auto-Invest or buyer-side secondary-market charges, and Fagura does not withhold tax on investor earnings.

Fagura was founded and is led by Tudor Darie, a serial tech-media entrepreneur who has headed the marketplace since 2017. Before launching Fagura, Darie ran several online media ventures at New Media Grup and Interakt and today sits on the board of the Romanian Fintech Association, bringing more than five years of dedicated fintech experience to the role.

Cristian Pasa, Chief Operating Officer, joined Fagura after almost five years as a Regional Relationship Manager at Bloomberg LP, where he covered financial-institution clients across Central and Eastern Europe. He now oversees daily operations and strategic partnerships and also serves as a board member of the Romanian Fintech Association.

Technical development is directed by Sandu Camerzan, Chief Technology Officer, who brings more than fifteen years of web-development experience. Camerzan previously founded the software studio CamLab and worked as a Drupal architect at OPTASY before taking charge of Fagura’s platform architecture in mid-2019.

Financial stewardship rests with Natalia Casian, Fagura’s Chief Financial Officer. Casian has over a decade of accounting and audit experience, including senior posts at Grant Thornton Moldova, and is responsible for budgeting, reporting and regulatory compliance.

Fagura has completed four disclosed fundraising rounds totalling €2.4 million. Their first public crowdfunding campaign raised €342 k on Seedrs in May 2021 (170 % of target),^[12] €781 k in a second Seedrs campaign in January 2023, ^[13] a €250 k bridge ticket from U.Ventures in October 2024, ^[14] and a €1 million convertible-note round in November 2024 led by U.Ventures and Mozaic Ventures with several business-angel co-investors.^[15]

Latest publicly available accounts show that both operating vehicles remain loss-making: the Romanian entity Fagura Finance SRL booked no turnover and a net loss of RON 330,668 (~€67 k) in 2023, with liabilities rising to RON 241,873.^[16] The latest audited statements for the Moldovan operating vehicle, OCN “Fagura Marketplace” SRL, show total assets of MDL 43.77 million, equity of MDL 2.04 million and a net loss of MDL 133,545 for FY 2023 (≈ €2.24 million in assets and a €7 k loss).^[17]

1. P2PMarketdata: “Fagura Statistics”
2. Fagura: “Online financing for small businesses with big ambitions”
3. Fagura: “What are the main differences between fagura.com and fagura.ro?”
4. Fagura: “What is the minimum and maximum investment for a single loan?”
5. Fagura: “Automatic Investments”
6. Fagura: “What are the periods for which loans can be requested and what do monthly payments contain?”
7. Fagura: “How is the receipt of payments from borrowers taking place?”
8. Fagura: “Statistics”
9. Fagura: “How is it possible for investors to receive an average annual return of 10% when loans are granted at an interest rate starting from 12.4% per year?”
10. Fagura: “What fees and taxes do the investors pay?”
11. Fagura: “Fees on the Secondary Market”
12. Republic Europe: “Crowdfunding to become a benchmark in your industry”
13. Fagura: “Fagura raised 780,000 Euros in equity investments in its second round on Seedrs”
14. Fagura: “Fagura secures €250,000 Investment from U.Ventures”
15. The Recursive: “Romanian-Moldovian Fagura Raises €1 Million for Their Digital Financial Ecosystem”
16. Lista Firme: “Fagura Finance SRL”
17. Fagura: “Annual Report O.C.N. Fagura Marketplace S.R.L. (01.01.2023-31.12.2023)”