Flint Capital bought a €1m minority stake in Creamfinance, a Warsaw, Poland-based consumer finance services provider.
In conjunction with the investment, an unnamed angel investor sold its stake in the company, which will use the funds for expansion into Scandinavian market.
Flint Capital had already invested €5m in Creamfinance two years ago. Andrew Gershfeld will join the Creamfinance Board of Directors.
Led by Matiss Ansviesulis, CEO, Creamfinance technology-driven consumer loans company that leverages advanced algorithms and machine-learning capabilities to evaluate and score consumers, speed up the personal loan process and offer multiple credit products.
The company, which is currently operating in six countries, has raised debt financing from Mintos and Blackmoon Financial Group as well as a public bond issue on the Warsaw Stock Exchange.
Flint Capital is now the majority investor in Creamfinance.
FinSMEs
15/03/2016