finmid, a Berlin, Germany-based financial infrastructure company, raised €35m in early-stage equity funding.
Backers included Blossom Capital, Earlybird VC and N26-founder Max Tayenthal.
The new funding will be used to continue expanding and onboarding customers across core European markets, while offering platforms more financing options and a smoother user experience.
Founded in 2021 by former N26 employees, Max Schertel and Alexander Talkanitsa, finmid provides a fintech infrastructure helping B2B platforms offer their small and medium-size customers access to tailored financing support. With a few lines of code, finmid partners can offer a growing range of capital and payment solutions their SMBs need to scale.
With finmid, thousands of businesses can access financing without having to fill in multiple forms, submit to complex processes and low approval rates. They can access funds within 24 hours directly from the B2B platforms they use every day. Decisions are based on real-time data and expert knowledge of any given sector, which mainstream and challenger banks do not have.
finmid provides SMBs in Europe with two products to access finance, including:
- Capital – a solution for B2B software platforms that gives small and medium businesses immediate access to future revenues based on their sales history. This solution has been implemented with local commerce platform, Wolt, and other software providers to enable businesses in the property and hospitality sectors to get cash advances of their future earnings.
- B2B Payments – a solution that allows partners – such as Frupro, the marketplace for fruits and vegetables; recyclables marketplaces Safi, Metycle and Romco, timber marketplace VonWood, Vanilla Steel’s metal marketplace and more, to finance trading and provide essential working capital for buyers.
FinSMEs
16/04/2024