CREDIMI: 10 MILLION EUROS IN NEW FUNDING FROM UNITED VENTURES SGR AND VERTIS SGR
Continental Europe’s largest-volume digital factoring platform kicks off its second phase of development, eyes European markets
MILAN, November 13, 2018 – Continental Europe’s largest-volume digital factoring platform* Credimi has received a 10 million euro capital increase from investment funds United Ventures SGR and Vertis SGR, as well as some of the investors who took part in the first round of 8.5 million euros in September 2015.
Since it was founded less than two years ago, Credimi has lent over 200 million euros to 3,500 companies of all sizes, sectors and geographical locations. These companies have discovered how Credimi gives them a competitive edge over traditional banking and factoring solutions by offering more power, speed and flexibility. Credimi is authorized by the Bank of Italy as a financial intermediary. In 2018 Credimi has added new features and functionalities to its lending platform, including giving clients direct access to non-recourse financing for their unpaid invoices – something which has been particularly popular with small- and medium-sized companies. Credimi will use the new 10 million euros in funding to further expand its client base, product offering and talent pool, while continuing with its mission to help companies improve their ability to manage their working capital and their client networks and supplier chains. This new development phase will enable Credimi to lay the groundwork to expand into other European markets. *Source: AlfFi Markets Data Ignazio Rocco di Torrepadula, Credimi founder and CEO: “Credimi’s initial startup phase has been exhilarating, with results that have far exceeded our expectations. Being able to succeed in just a few months, and without any sort of commercial intermediary, in becoming a go-to solution for so many companies of so many different types all across Italy is really a remarkable achievement for such a young company. We are proud to announce that two funds as important as United Ventures and Vertis have decided to support us in this new phase that will be crucial for our future growth. We have set some very challenging goals: we aim to grow in Italy and start expanding in foreign markets. The confidence our new backers have shown in us underlines how much we have delivered so far, and is also a new starting point. This transaction means we can help an ever-wider range of companies, giving them access to factoring in a quick and simple way, thanks to our proprietary technology.”
Paolo Gesess, Co-founder and Managing Partner of United Ventures SGR: “Our goal at United Ventures II, our second fund launched in December 2017, is to invest in companies that use technology to innovate and transform important sectors of our economy like business lending. With Credimi we have found a team that stands out for its entrepreneurial ability and for its expertise, with the target of creating a leading player in the digital factoring field capable of succeeding in Italy and elsewhere in Europe.”
Mauro Odorico, Investment Director, Vertis SGR: “With Credimi we have found a group of entrepreneurs who have the ambition and the skill set to revolutionize the corporate credit sector. We hope that this investment will further accelerate Credimi’s domestic and international development. On our side, the investment is not only a recognition of the work carried out so far, but also a wager that this technology will be effective in supporting the development of Italian companies going forward.”
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