finmid has raised EUR 17 million from Big Pi Ventures, Mainset, and Earlybird, and launched lending products with Bolt and Skroutz.
Germany-based embedded lending provider finmid announced the Series A extension funded by Big Pi Ventures and Mainset, with Earlybird participating as a follow-on investor. The round brings finmid's total funding to EUR 52 million. Alongside the raise, the company has introduced two products that take it beyond working capital for the first time: multi-year vehicle financing with Bolt and a merchant lending programme with Skroutz.
finmid plans to use the funds to develop its asset-finance products, multi-source funding infrastructure, and underwriting capabilities. The capital will also support expansion into additional platform categories, including mobility and ecommerce.
Vehicle financing for ride-hailing fleets
The Bolt partnership has produced Bolt Vehicle Solutions, a programme that offers fleet operators vehicle financing tailored to their business. The European ride-hailing market is projected to reach EUR 157 billion by 2034. However, fleet operators often have trouble financing vehicles because traditional lenders have limited insight into how fleet businesses perform commercially. Standard manufacturer financing terms are also not built for vehicles in high-utilisation commercial use.
Under the programme, operators browse available vehicles on Bolt's platform and are then referred to finmid to compare financing options and submit an application. Repayments are fixed and monthly, and ownership passes to the operator once the final payment is made. This turns the vehicle from an ongoing expense into an asset. Joshua Okeleke, Europe BD Lead at Bolt, said the programme combines preferential vehicle deals with a simpler route to financing and ownership. He added that this would help fleet partners add vehicles as passenger demand grows.
A marketplace lending its own capital
The Skroutz partnership uses a different model. Through Skroutz Funding, the Greece-based online marketplace lends directly to its roughly 9,000 merchants. Skroutz Group supplies the capital, while finmid handles underwriting, regulated lending, servicing, and refinancing. This is the first finmid partnership in which its credit infrastructure is built around the platform's own funding.
From cash advances to asset finance
finmid's model lets platforms offer financing to their business customers through a single integration. Loans are underwritten on platform data and issued through finmid's regulated lending entity. Capital comes from the platform, its banking partner, or finmid's refinancing partners. The company's existing partners include Wolt, Delivery Hero, myPOS, and efood.
This is finmid's first funding announcement since its EUR 23 million Series A in April 2024. The company says it has extended more than EUR 4 billion in financing offers across 30 European markets. Around 85% of borrowers return for further financing, and financed merchants have grown their revenue on partner platforms by up to 45%.
Alexander Talkanitsa, co-founder of finmid, noted that two years ago, embedded lending typically meant a cash advance for a restaurant. The same infrastructure now supports multi-year vehicle loans and lending from a marketplace's own balance sheet.
