Capitec Bank Invests €21 Million in Fintech Company Creamfinance During Series B Funding Round

European fintech company, Creamfinance LLC, announced on Monday it received a €21 million investment from South Africa’s Capitec Bank during its Series B funding round. The new round of funding comes just after the company secured €5 million during its Series A round from international venture capital fund, Flint Capital.

While speaking about the investment, Gerrie Fourie, CEO of Capitec, stated:

“Given their expansion and focus on operational excellence, Creamfinance has emerged as a leading personal finance provider in Europe. We are impressed by Creamfinance’s focus on Smart Data scoring and its business model which was developed in such a way that new countries can be entered swiftly and efficiently, requiring limited investment in local infrastructure.”

Matiss Ansviesulis, Co-Founder and CEO of Creamfinance, added:

“We are excited about this investment from a leading bank that, like ourselves, emphasizes technology and operational efficiency and the acknowledgements of our ability to scale fast. This investment also marks a potential new beginning in fintech and banks‘ cooperation, especially since so many hold opposing views.”

Creamfinance added the investment would be used for expansion.

Sponsored Links by DQ Promote

Send this to a friend