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Finmid Raises €23M to Expand Embedded Fintech Solutions

  • Finmid, a Berlin-based fintech startup, has raised €23 million ($24.7 million) in a Series A round to build out its product and enter new markets

  • The company provides embedded payment and financing solutions for marketplaces and has partnered with food delivery brand Wolt to offer cash advances to restaurants.

      • Finmid

      ProblèmeFinancial Services

      "Small and medium-sized businesses (SMBs) in Europe face challenges accessing loans through traditional channels like banks or neobanks. The process can be complex and time-consuming, and these businesses may not always receive the financing they need."

      Solution

      "Finmid is a Berlin-based startup that provides embedded fintech solutions for marketplaces to offer payment and financing options to their users. It aims to simplify the process of accessing loans for SMBs by leveraging data from the marketplaces to make more personalized financing offers. Finmid's API connects multiple data points from the platform and can also plug in other sources of information on the borrower, similar to how banks would operate."

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