Banxware partners with Rabobank for expansion into the Netherlands

Friday 9 June 2023 15:39 CET | News

Germany-based financing startup Banxware has announced partnering with Rabobank to expand to the Netherlands.

This was announced by Banxware at the Money2020 tech conference. The Rabobank is already a major financier of small and medium-sized enterprises. Now it is to be integrated into other platforms in the Netherlands with Banxware's digital solution. Banxware offers an embedded finance solution that companies can use to apply for loans.

Banxware partners with Rabobank for expansion into the Netherlands

Banxware enables marketplace traders to receive financing directly via their platform. The startup works in the background to check the trader. After said quick check, and within 15 minutes, the money is paid out to the small business. When the merchant generates revenue through the platform, some of the money is retained to pay off the funding. Banxware users can be online retailers, accounting software, or logistics platforms.


How does the Banxware solution work

Banxware provides platform-based business loans by digitally embedding their lending solution into the dashboards of their platform partners. The core lending experience offers fully digital processing, meaning that the finance application, identification, decisions, and contract signing is fully digital for sellers. Loans are flexible and loan-seekers can decide the amount they borrow. Subject to revenue-based approval, Banxware offers adjustable loans from EUR 1000 to EUR 250,000. Instead of a fixed monthly rate, the platform sellers’ repayment amount is a percentage of revenue. The fully integrated white-label solution can be completely tailored to the needs of Banxware users’ customers. 


Previous Banxware cooperation with Agicap

In April 2023, Agicap and Banxware partnered for liquidity planning and immediate financing for SMEs. Agicap focuses on liquidity management and financial planning for small and medium-sized companies. The cloud-based solution enables corporate customers to automate their cash flow in real-time and facilitate payment flows. The cooperation with Banxware allowed Agicap customers to receive an individually tailored financing option by using Banxware's technology.


Banxware’s 2022 seed expansion round

In January 2022, Banxware raised EUR 10 million in a seed expansion round led by Element Ventures. The capital injection was intended to be used to further develop their offer, enlarge their team and expand product development, sales, and marketing to digital platforms across Europe. The partnership with Rabobank, and the resulting expansion to the Netherlands, is a step in achieving its goals. Co-investors of the 2022 financing round included D4 Ventures, FinVC, and Varengold Bank AG and Banxware's existing investors Force over Mass, VR Ventures and HTGF significantly increased their investments in this round.

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Keywords: financing , SMEs, SME lending, financial services, partnership, expansion
Categories: Banking & Fintech
Companies: Banxware, Rabobank
Countries: Germany, Netherlands
This article is part of category

Banking & Fintech




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