German crowdfunding platform Kapilendo has raised ?7m in a Series B round of funding led by the pension fund for the Berlin Chamber of Dentists.
The round also saw participation from fintech incubator FinLab and VC Comvest Partners.
Kapilendo platform offers both small business loans and equity crowdfunding investment allowing it to cater to a greater range of business in search of financing.
The company claims that its site holds the record for the fastest money-raising campaign in Europe to date, with Bundesliga team Hertha BSC reaching ?1m in less than 10 minutes.
Companies listed on the platform are subject to a credit checks prior to being presented.
It claims that many of its campaigns with successful business models raise more than ?200,000 in 42 hours.
Kapilendo CEO and founder Christopher Gr?tz said, ?With the fresh capital, we want to become the leading full-service provider in the field of crowdfunding in Germany.
?We are very pleased to have just won a new financial investor with the utility of the Chamber of Dentists in Berlin, but above all also an entrepreneurial investor, whose extensive network will open up many opportunities for us in the future.”
The Berlin-based company says it will use the capital to continue its expansion.
Director of the supply department of the Chamber of Dentists in Berlin Ralf Wohltmann said, ?The investment in Kapilendo is more than just a strategic investment for us.
?Kapilendo offers us the ideal platform in the area of SME financing to make our own investments accessible to a broad public and to invest successfully together here.p>
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