Commercial financing platform COMPEON has closed its series B round on more than €12m.
The investment was led by Tengelmann Ventures other participants to the round included btov Partners and Dieter von Holtzbrinck Ventures.
Launched in 2013, COMPEON is a commercial financing platform and brokerage platform. The solution helps customers to find funding options with transparent terms including interest rates, equity ratios and collateral. Currently the company works with over 220 established banks, savings banks, and alternative financial partners.
Not only does the platform offer credit, loan and leasing products, but it also has mezzanine capital, finetrading, project financing and private debt. Currently the platform has over 220 banks and other financing partners using its network, providing a range of financing solutions.
This new injection of capital will be used to boost its technology and platform, so it can provide a range of financing solutions.
COMPEON founder and managing director Frank Wüller said, “We cover all traditional financing instruments and connect our customers to relevant providers of financing in Germany. We are already the leading digital platform for commercial financing, a position we want to secure, and we are delighted that our investors have shown such commitment.”
This new injection of capital brings the total funding in to COMPEON to around €14.5m, with it closing a €2.5m Series A round in 2015.
Other investments in Tengelmann Ventures’ portfolio include personalised investment management platform Scalable Capital, smartphone payment provider SumUp and payment solution platform Klarna.
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