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Banxware raises EUR 15 million in Series A funding round

Monday 4 December 2023 10:51 CET | News

Germany-based Banxware has announced the raise of EUR 15 million in Series A funding round to expand in other European markets and launch new products.

 

Following this announcement, the funding round is expected to allow Banxware to further expand its coverage into other markets around the European regions, as well as to launch additional secure products tailored to address multiple customer segments and needs. 

The equity round was led by UniCredit and Open Finance solutions provider Fabrick, with other investors joining the funding as well, including 13books Capital, VR Ventures, Force over Mass, and D4 Ventures. 

 

Germany-based Banxware has announced the raise of EUR 15 million in Series A funding round to expand in other European markets and launch new products.

 

Banxware’s recent strategy of development

Financial startup Banxware had multiple partnerships and product launches in the last couple of months, covering several different geographic areas around the world. 

In the beginning of June 2023, Banxware announced its collaboration with Rabobank in order to expand its services to the Netherlands. The Rabobank firm represented a major financier of small and medium-sized enterprises and businesses (SMEs, SMBs), and it was integrated into other platforms in the Netherlands with Banxware’s digital services. In addition, Banxware offered an embedded finance suite of products that companies and enterprises could leverage in the process of applying for loans. 

At the same time, Banxware enabled marketplace traders and merchants to receive financing directly via their platform. The startup also focused on working in the background to check the trader. After said quick check, the money was paid out to the small businesses in a fast and secure manner. When the merchant generated revenue through the platform, some of the funds were retained to pay off the investment. In addition, Banxware users were also enabled to be online retailers, accounting software, as well as logistics platforms. 

Earlier in April 2023, Banxware and Agicap announced their collaboration for liquidity planning and immediate financing for small and medium-sized enterprises. According to the press release published at the time, Agicap focused on liquidity management and financial planning for SMEs, while also enabling corporate customers and clients to automate their cash flow in real-time and facilitate payment flows. 

In addition, the collaboration was expected to allow Agicap users to receive an individually tailored suite of financing methods by leveraging Banxware’s technology and tools. The partnership also represented an upgrade for its customers, which allowed them to see and control their money flows in a centralised and secure way, as well as to get new funds when there are opportunities for growth and development. 

 


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Keywords: funding, investment, banking, online banking, digital banking, mobile banking, financial services, financial institutions, SMEs
Categories: Banking & Fintech
Companies: Banxware
Countries: Europe
This article is part of category

Banking & Fintech

Banxware

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