Finmid, a Berlin-based financial infrastructure innovator, has emerged from stealth, raising €35 million in early-stage equity funding from Blossom Capital, Earlybird VC, and N26-founder Max Tayenthal. The funding comes as finmid also announced its partnership with Wolt, a European tech company known for its local commerce platform.
Finmid acts as a bank and offers financial services to each of its customers, be they restaurants or retailers. This brings back the personalised touch of branches and ensures SMBs get a tailored solution.
Max Schertel, Co-Founder of finmid said, “At finmid, our mission is to help every business access the capital it needs. But our approach might surprise you. How do we bring back the relationships that made banking work for so long? With just a few lines of code, finmid enables any B2B software platform to offer financing to its customers, building on existing relationships with restaurants, retailers, and traders to fuel its business growth.”
Alexander Talkanitsa, Co-Founder of finmid added, “We believe B2B software platforms are the future distribution channel for financial services as they have relationships with thousands of businesses. Moreover, these platforms have access to real-time data, enabling streamlined user interactions. By leveraging the extensive reach, data insights, and relationships these platforms maintain, alongside financial capital, we’re looking at a modern way of business financing.”
In 2023, Wolt partnered with finmid to enhance its merchant support, introducing ‘Wolt Capital,’ an easy cash advance feature to support their merchants.
Another example is finmid’s partnership with Safi, a growing marketplace that connects recycling facilities worldwide. finmid helps Safi by creating a bridge between global buyers and sellers through its flexible B2B Payments solution. This allows recyclable facilities to receive early payouts for initial materials, ensuring security and trust when trading globally.
With the latest funding, the company aims to drive sustainable growth and product innovation. It plans to expand to core markets, localise operations, and support more financing options for easier platform integration and a smoother user experience.
Source: ibsintelligence.com
