FinCompare, a Germany-based SME financing specialist, announced on Thursday it €22 million through its Series A funding round. Participants of the round include Speedinvest, ING Ventures, and UNIQA Ventures. International financial investors, including RBI Ventures from Raiffeisen Bank International AG, and private investors
Founded in 2016, FinCompare is a mission to become Europe’s leading financing platform for SMEs. The company offers SMEs with a one-stop destination for their financing needs.
“Created by experienced, pragmatic founders and supported by strong investors we are ready to embark on this exciting journey. Everyone in our team is an expert in their area, eager to go the extra mile and a lot of fun to work with! We have only just begun to reform the b2b financing market – and need you to continue the dynamic growth!”
FinCompare also reported that more than 1,000 financial advisors use its platform for their daily brokerage business with their clients. The financing partners offer the more than 25,000 registered SMEs flexible financing solutions such as leasing, factoring and purchase financing in addition to the classic company loan. Speaking about the investment, FinCompare Chief Commercial Officer, Timm Wege, stated:
“The banking industry is ready for radical change. We have the opportunity Integrate all SME bank products across Germany into our platform and become the largest independent SME bank – without having to be a bank yourself. Our investors understand very well that the banking market needs to be revolutionized in terms of SME financing, and FinCompare plays a crucial role in this. We are about to become Germany’s leading provider of all-in-one SME financing solutions that are accessible to companies anytime, anywhere.”
Stefan Klestil, Partner at Speedinvest, added:
“FinCompare already offers the best customer experience in financing advice and brokering for medium-sized companies. In the future, horizontal FinTech marketplaces will determine the financing business in the SME sector, we are convinced of that. FinCompare has the best conditions among all players on the market in Germany. We are happy to be part of this success story and want to digitize the German SME financing market with FinCompare.”