The Berlin fintech Banxware around founder Miriam Wohlfarth collects millions of investors – the venture arm of the Volksbanken and several scene heads invest.
The Berlin fintech Banxware has announced a first financing round of four million euros. British venture capitalist Force over Mass and VR Ventures are leading the way. VR Ventures is an investment vehicle of the Berliner Volksbank, in which other financial institutions from the banking group have also participated. Other donors are the mostly state-financed High-Tech Gründerfonds, the Payone founders Jan Kaniess and Carl Frederic Zitscher and Paula Blazquez Solano from the venture arm of Banco Sabadell.
The principle of the Berlin fintech: marketplace traders receive loans directly via their platform. Banxware works in the background and checks the merchant. A typical customer receives between 15,000 and 30,000 euros, according to the startup. After a quick credit check, the small business is paid off the loan. If the merchant generates sales through the platform, some of the money is withheld to pay off the loan.
A lender has already been found: the United Volksbank Raiffeisenbank, an amalgamation of regional banks in southern Hesse and Franconia, is providing 100 million euros that the fintech can lend via its platform, as Finance Forward reported. Now the startup still has to find a platform partner.
Banxware, which was founded by Jens Röhrborn and Miriam Wohlfarth, among others, wants to use the money from the financing round to expand the team and to offer a bank card and other services in addition to the credit product.
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