Digital Magics (symbol: DM), a Milan-based certified incubator for innovative startups, received a medium-term loan of €1m from Banca Sella Group, assisted by the Guarantee Fund for SMEs.
The transaction aims to strengthen Digital Magics’ incubation and acceleration services aimed at fintech startups of its own portfolio, which currently are 6 out of 40.
The Banca Sella Group collaborates with Digital Magics and more than 100 selected partners in its angel network, comprised of private investors, institutional funds and industrial operators, who provide mentorship activities and co-invest in digital startups.
Led by Enrico Gasperini, Digital Magics builds and develops Internet startups, working alongside founders, providing capital and acceleration services including the research of new Italian, international, private and public investors to fund the successive stages of development. To date, it has invested approximately €14.8m (of which €5m come from exits) in 40 companies, achieved 6 exits and 4 write-offs. The average investment is around €300k.
FinSMEs
22/12/2014