Germany-based consumer loan portal smava has received a $65m funding round led by Vitruvian Partners.
Runa Capital also took part in the company’s funding round. Following the investment, Vitruvian Partners partner Jussi Wuoristo will join smava’s advisory board.
smava is an online loan portal which offers consumers an overview of 70 loans, which include third-party loans from more than 25 banks, and offers from private lenders. The platform allows users to compare different loan products, with loans available for retirees, personal, car financing and many others.
With the new batch of funding, the company hopes to develop its technology and expand in to new market segments.
Vitruvian Partners partner Jussi Wuoristo said, “As a thought leader in this space, smava has proven that its marketplace model combined with continuous technological innovation materially enhances the experience and alternatives available to consumers. smava also adds significant value to the product providers by offering an attractive direct online channel to high quality prime customers.â€
This funding round comes over a year since its previous funding round, with the company picking up a $34m Series C in 2016. The previous investment was led by Runa Capital, with commitments also coming from mojo.capital, Verdane Capital and Earlybird Venture Capital.
With the latest funding, it brings the company’s total investments up to $124m.
Earlier this week, fellow Germany-based FinTech Price f(x) closed its own funding round, as it looks to boost global growth. The price management solution raised $8.3m from Credo Ventures, Talis Capital and Reflex Capital, to support the company increasing international presence.
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