Tallinn based fintech startup Income has launched a seed funding round by signing lead investor Tolaram Fintech, part of Tolaram, a Singapore-based enterprise with investments in consumer products, fintech, and infrastructure and over USD 1.2 billion in annual revenues.

Income plans to raise a total of €1.3 million of fresh equity during this round. It will use the proceeds to make key hires, continue product development of its retail investor marketplace, and further develop its institutional investor onboarding capabilities.

Income is a marketplace for investing in loans, with a strong focus on investor security. Income is disrupting the marketplace investing and private debt industry by using technology, advanced data analytics, and security structures previously reserved for large institutional investors.

Income was founded in 2020 and raised €1 million from angel investors in a pre-seed round to launch the business and develop its product. Since the launch, Income has reached recurring revenue and gained early traction with retail and institutional investors, who have already invested over two million euros through the platform at www.getincome.com.

According to Income's CEO Kimmo Rytkönen, "Investing in loans as an asset class is growing at a record pace globally, and we see increased demand from both retail and institutional investors. At the same time, there is almost an unlimited need for liquidity among fintech lenders, especially in emerging markets, enabling access to credit where it was previously missing. We are well-positioned to benefit from these trends, and we see marketplace data transparency and the innovative use of technology as the future of marketplace investing. Our goal is to become one of the largest and best-recognised marketplaces for investing in loans globally. We are very pleased to welcome Tolaram Fintech, with their extensive experience in emerging markets and fintech, as the lead investor in our seed round."

"We are pleased to have the opportunity to invest in the growth of Income, as we believe that it has a unique business model that centres around investor protection. Furthermore, Income's innovative offering is closely aligned with our fintech ambitions to enable access to credit in emerging markets, and we look forward to cultivating a strong partnership in this respect," added Navin Nahata, Managing Director, Fintech, and Infrastructure, Tolaram.