News

Embedded finance fintech Banxware raises EUR 10 million in seed expansion round

Wednesday 12 January 2022 13:23 CET | News

Germany-based embedded finance fintech Banxware has announced raising EUR 10 million in a seed expansion round led by Element Ventures. 

Co-investors 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. In February 2021, the company already collected EUR 4 million and the leading investors at the time were UK-based venture capitalist Force over Mass and VR Ventures.

Banxware sees itself as a lending-as-a-service provider and its solution enables digital platforms as well as marketplaces and payment service providers to offer their business customers embedded financing products in real-time. The United Volksbank Raiffeisenbank is the first bank partner to provide a total of EUR 100 million in credit for SMEs. According to a Banxware representative, the capital injection will be used to further develop the offer, enlarge the team and expand product development, sales and marketing to digital platforms across Europe.


More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: investment, SMEs, financial services, embedded finance
Categories: Banking & Fintech
Companies:
Countries: Germany
This article is part of category

Banking & Fintech