finmid lands €17M and adds car and merchant loans
The finmid founders, Alexander Talkanitsa and Max Schertel - © finmid
Berlin fintech finmid has secured €17 million in fresh funding and unveiled two major new financing programs, according to information published by Startup Valley.
The funding round was led by Big Pi Ventures, with Mainset joining as co-investor and existing investor Earlybird participating again. The new investment brings finmid's total funding to €52 million and will support the expansion of its lending infrastructure, credit assessment capabilities and growth into additional platform categories such as mobility and e-commerce.
Alongside the funding announcement, finmid introduced two new products that mark an important step in the company's growth strategy.
Through a new partnership with mobility platform Bolt, finmid has launched Bolt Vehicle Solutions. The program is designed to help fleet operators access vehicle financing directly through the Bolt platform. Businesses can choose vehicles, apply for financing and repay through fixed monthly installments, eventually gaining full ownership of the vehicles.
finmid has also partnered with Skroutz, Greece's largest online marketplace, to launch Skroutz Funding. The program allows Skroutz to provide loans directly to its roughly 9,000 merchants. While Skroutz supplies the capital, finmid manages credit assessment, regulated lending, loan servicing and refinancing.
Founded on the idea that business financing should be available through platforms companies already use, finmid has built lending infrastructure that enables platforms to offer financing through a single integration. Since its launch, the Berlin company has worked with partners including Wolt, Delivery Hero, myPOS and efood, offering financing opportunities worth more than €4 billion across 30 European markets.
With the latest funding round and its new partnerships, finmid is extending its model from working capital into larger and more complex financing solutions for businesses across Europe.
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