Credimi, a Milan, Italy-based digital factoring platform, raised €10M in funding.
Backers included United Ventures SGR and Vertis SGR, as well as some of the investors who took part in the first round of €8.5m in September 2015.
The company intends to use the funds to further increase its client base, product offering and talent pool and expand into other European markets.
Led by Ignazio Rocco di Torrepadula, founder and CEO, Credimi is a digital direct lending platform that enables European companies to improve their working capital position via a variety of online products including recourse, non recourse, supplier chain credit solutions and complete confidentiality.
The company then securitizes its clients’ non-delinquent receivables and sells them on to its partner institutional investors.
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, which has been particularly popular among small- and medium-sized companies.
To date, the company has lent over €200m to 3,500 companies of all sizes, sectors and geographical locations.
It is authorized by the Bank of Italy as a financial intermediary.