[ad_1]
Finmid has come out of stealth and announced it has raised €35 million (approximately $37 million) to expand its embedded finance solutions to businesses across Europe.
The company’s solution enables B2B platforms to provide tailored financing support to small and medium-sized business (SMB) customers, finmid said in a press release on Tuesday (April 16).
“With just a few lines of code, finmid enables B2B software platforms to offer financing to their customers and build on existing relationships with restaurants, retailers, and traders to drive business growth.” said Max Schertel, co-founder of finmid. release.
Alexander Talkanitsa, co-founder of finmid, said the company believes B2B platforms are “the future distribution channel for financial services” because they engage thousands of companies and have access to real-time data. added.
“By leveraging the broad reach, data insights and relationships that these platforms maintain, along with Financial Capital, we are looking at modern ways of business financing,” Tarkanitsa said.
Finmid also announced on Tuesday that it has partnered with European technology company Wolt, known for its local commerce platform, to enable Wolt to provide financial services to its customers. According to the release, the partnership allows Wolt to launch an easy cash advance feature called Wolt Capital, designed to support merchants on the platform.
In another collaboration, finmid helped launch a B2B payment solution for Safi, a marketplace that connects recycling facilities around the world, according to the release. This solution allows sellers to receive payments early and buyers to have access to extended payment terms.
According to the release, finmid plans to use the new capital to expand into its core markets, localize its operations, and support more financing options.
The company’s latest funding round was led by Blossom Capital.
Ophelia Brown, partner at Blossom Capital, said: “All B2B software platforms leverage financial services to improve profitability in order to better serve customers, retain customers, and remain competitive in the long term. “I believe we need to think about ways to increase the rate.” release. “
Industries are moving toward a B2B future, and companies with regular commercial customers are He said he can retain customers with financing offers they can’t get anywhere else. (April 10).
“Doing all of this allows us to integrate more strategically with our customers and the partners we work with,” Sieleki said of embedded finance.
[ad_2]
Source link
