smava GmbH, a Berlin, Germany-based consumer lending platform, received a $65M growth private equity investment.
The transaction was led by Vitruvian Partners with additional participation from other investors including Runa Capital. In conjunction with the funding, Jussi Wuoristo, Partner at Vitruvian Partners, will join the advisory board of smava.
The company intends to use the funds to further accelerate product innovation and enhance its offering to consumers and lenders.
Led by Alexander Artopé, CEO and co-founder, smava provides an independent consumer lending portal which offers market overview of 70 loan offers, both third-party loans from over 25 banks as well as loans which are funded by private lenders, ranging in value from €1,000 to €120,000. Borrowers can choose the deal most favourable to them and save up to €2,000. The company, which has developed and continuously refined its proprietary credit scoring technology since 2007, has originated over $3 billion in loans through its platform.
Other investors in the smava, which has raised a total of $135m, include Verdane Capital and Earlybird.