FinCompare, a Berlin, Germany-based marketplace for corporate financing, raised its €2.5m in seed funding.
Backers included SpeedInvest, Uniqa ventures, and business angels from the banking and finance industry such as Gerrit Seidel, Matthias Sohler (both yabeo capital), Marcus Börner (OptioPay, reBuy), Kilian Thalhammer (Izyco), André M. Bajorat (figo), Alex Graubner-Müller (Kreditech).
The company intends to use the funds to grow the business, improve the product offering, and expand marketing and staff.
Founded by Stephan Heller, CEO, Nicolay Ofner, COO, Sarp D. Demirel, CTO, and Paul Weber, CCO, FinCompare provides small and medium sized enterprises (SME) with financing options starting from €10k. Through the online platform www.fincompare.de, companies can find, compare and close Germany-wide offers from renowned banks, fintechs and financial service providers – for free and in a vendor-agnostic manner.
They can choose from a pool of more than 200 finance partners (e.g. Commerzbank, UniCredit, Volksbank), alternative financial service providers (e.g. Arvato Bertelsmann, Grenke) and fintechs (e.g. bezahlt.de, Lendico, iwoca).
Currently, the startup employs a team of 25 people, of which half of is IT and development.