CapitalBox, a Stockholm, Sweden-based alternative financing company for small- and medium-sized enterprises (SMEs), acquired Omniveta, a Copenhagen, Denmark-based invoice purchasing company.
The amount of the deal was not disclosed.
Led by CEO Christian Hierwagen, Omniveta is an invoice purchasing company dedicated to improving lending liquidity for SMEs across Denmark. Through its KontantVedAccept™ program in particular, Omniveta has been able to strengthen collaboration with strategic suppliers to achieve an immediate improvement in liquidity for Danish SMEs. Suppliers receive cash payment, while the company’s SME clients are able to keep the agreed credit period, which is financed by Omniveta. Invoice approval and payment distribution happen simultaneously. Additional strategic partnerships with firms like Dublin-based Supply Finance allowed Omniveta to access specialized financing platforms to secure the necessary capital base for growth.
Omniveta will assume the name CapitalBox moving forward, and its entire team will be brought under the auspices of CapitalBox’s Danish division and Denmark Country Manager Anne Trampedach, who has led the division since CapitalBox’s 2016 entry into the Danish market.
CapitalBox provides alternative funding solutions to businesses for European economy. Founded in 2015 as part of Multitude Group’s growth platform, the fintech lender provides an automated online business loans up to €2M that can be delivered in minutes following a successful application.
The company has offices in Sweden, Denmark, the Netherlands, and Lithuania.
FinSMEs
05/03/2024