Banxware, a Berlin, Germany-based software-as-a-service provider for Embedded Financial Services, raised EUR 4m in seed financing.
Backers included High-Tech Gründerfonds (HTGF) Force over Mass, VR Ventures and several business angels.
The company will use teh funds to expand operations and its business reach.
Founded in September 2020 by Miriam Wohlfarth, Jens Röhrborn, Fabian Heiß, and Nicolas Kipp, Banxware is a provider of a software-as-a-service platform for Embedded Financial Services, which enables digital platforms such as marketplaces, payments providers, POS providers, and other aggregators to offer white label financial products, especially loans, to merchants. Its first product, white label instant lending, is fully integrated in the platform’s look and feel, the credit decision happens in real-time and pay-out happens immediately.