| Client | Market | Products Launched | Impact |
|---|---|---|---|
| Hoovi | Estonia (SME Lending) | 6 Business Products | 3,000+ SMEs Financed 30% Faster Decisions |
Results at a Glance
6 lending products launched on a single platform
3,000+ SMEs financed across Estonia
30% faster credit decisions through automated underwriting
Zero custom code needed for product flow configuration
About Hoovi
Hoovi is an Estonian digital lender specializing in accessible financial solutions for small and medium-sized enterprises. Built on local capital, Hoovi focuses on removing financing friction for growing businesses while delivering rapid, highly responsive customer service.
The Challenge: Growth Outgrew In-House Systems
In its initial phase, Hoovi managed operations using a combination of Excel spreadsheets, a generic CRM, and custom code written by the founders. While this setup kept early overhead low, scaling the business exposed clear operational bottlenecks.
As Hoovi expanded its product range, managing multiple SME lending products simultaneously became increasingly complex:
1. Diverse Underwriting Requirements: Unlike consumer loans, SME lending involves heavier documentation, complex financial statements, and custom eligibility rules per product.
2. Operational Friction: Manual verification and disconnected tools slowed decision-making and risked inconsistent risk application.
3. Product Launch Bottlenecks: Introducing a new product or modifying an existing credit workflow required dedicated engineering time, delaying time-to-market.
After reaching €3M in total loans issued with a single product, Hoovi's leadership realized that further portfolio growth would require replacing fragmented in-house operations with a centralized, scalable loan management platform.
"In the beginning, when we started our business, it was cheaper to operate using Excel, a generic CRM software, and code written by the founders. But after 18 months of operations and €3M in loans issued, we saw that further growth required replacing manual in-house operations with a capable SaaS loan management platform.
When we migrated to Fintech Market, we had only one product. Now we have six, and Fintech Market has grown with us. The platform has everything even a mature non-bank SME lender needs: IFRS-compliant loan schedules, integrations with P2P platforms such as Mintos, revolving credit lines, vehicle leasing, hire purchase, and more."
– Karl Märka, Hoovi CEO
The Solution: A Unified, No-Code Digital Lending Engine
Hoovi selected Fintech Market's SME lending platform to unify origination, underwriting, servicing, and debt management into a single digital ecosystem.
Because the platform operates on a no-code, highly configurable architecture, Hoovi's operations team could build, test, and launch new products independently without waiting for software development cycles.
Key Modules Implemented
Loan Origination: A centralized workflow captures incoming SME applications and business documentation in one place. Configurable product flows allow Hoovi to launch or update lending products in days rather than months.
Customer Onboarding: Automated verification workflows streamline business KYC/KYB checks, flagging potential credit and fraud risks early in the cycle while maintaining a seamless applicant experience.
Automated Underwriting: Powered by the FTM Decision Engine, Hoovi creates configurable decision rules and scoring logic. The team automatically evaluates complex business credit profiles, reducing approval times while maintaining strict risk controls.
Loan Servicing: The platform automates core post-issuance management, including repayment scheduling, IFRS-compliant accounting outputs, and revolving line management, significantly reducing routine administrative tasks.
Debt Management: Integrated monitoring tools track payment schedules in real time, enabling early delinquency detection and structured collections workflows to protect overall portfolio health.
The Outcome: Sustainable Portfolio Scale and 6 Active Products
Migrating to Fintech Market's Core System provided Hoovi with a flexible digital infrastructure designed for long-term growth. Key outcomes include:
Rapid Portfolio Expansion: Hoovi expanded from 1 initial credit product to 6 active products (including revolving credit lines, vehicle leasing, hire purchase, and more) on the same underlying architecture.
Faster Decisioning: Credit approval speed improved by 30%, giving small business borrowers faster access to capital.
Lean Operations: Hoovi successfully financed over 3,000 SMEs without needing to scale administrative headcount at the same rate.
For digital-first lenders evaluating whether to build custom software in-house or buy a platform, Hoovi's growth demonstrates how a configurable SaaS approach eliminates the traditional trade-off between operational flexibility and time-to-market.
Interested in seeing how Fintech Market supports SME lending operations? Request a demo to explore the platform in action.
Frequently Asked Questions
What loan management system does Hoovi use?
Hoovi runs its lending operations on Fintech Market's SME loan management system, a configurable, no-code platform covering origination, underwriting, servicing, and debt management.
Can a single platform support multiple SME lending products?
Yes. Hoovi launched six distinct lending products on a single Fintech Market platform, each with its own eligibility rules, documentation, and underwriting logic, without separate systems.
How does Fintech Market speed up SME credit decisions?
The FTM Decision Engine automates scoring and applies configurable decision scenarios, enabling lenders to make faster, more consistent credit decisions while maintaining risk controls.
Is Fintech Market suitable for digital-first SME lenders?
Yes. The platform is built for digital-first and non-bank lenders that need speed and configurability rather than the complexity of enterprise core banking systems.
How quickly can a lender launch a new product on the platform?
Because product flows are no-code and configurable, lenders can set up and adjust products in days rather than the months a custom build typically requires.
What does the FTM Decision Engine do for SME underwriting?
It provides automated credit scoring, visual model building, and configurable decision rules, allowing lenders to apply different underwriting logic for each product from one place.
The platform allows the company to launch new products faster, improve operational efficiency, and focus on serving SME customers rather than managing complex manual processes.
