Barcelona-based Nemuru has closed its latest equity funding round on €2.6m to help it launch an array of new products.
The investment came from investors including InnoCells, Bankia Fintech Venture, Antai Venture Builder, Encomenda, Lánzame, Plug and Play and Scale Lab Andorra.
With the fresh equity, the FinTech is looking to hire more staff, release new products and grow the business across Spain and other countries.
Nemuru is a point of sale lending platform that enables businesses within the vehicle, travel, rental and education industries to provide customers with short-term loans.
Through the platform, a business can offer their customers a financing plan of up to €30,000 on terms that fits their financial position. Nemuru acts as an intermediary to ensure the simplicity of the process and reduce the risk.
Nemuru CEO and co-founder Pere Monràs said, “Having the commitment of InnoCells, Bankia Fintech Venture and other leading investors reinforces our commitment to universalizing point-of-sale financing in a responsible manner.
“It is also a catalyst that will allow us to continue with a solid present and a very promising future: reinforcing the quality of the product and technology and counting on a stronger arrival to the market through investment in marketing and the integration of new financial partners in the platform. ”
Previously, the FinTech has raised €2m in funding.
The rivalry of Barcelona and Madrid even transcends into the FinTech market, with the two cities both fighting for the top spot in deal activity.
Between 2015 and 2019 there have been a total of 123 FinTech investments completed in Spain, FinTech Global data shows. Barcelona has piped Spain’s capital city to the leader spot, with 40.7% of deals being raised by FinTechs in Barcelona – Madrid represents 35.8% of Spain’s deal activity.
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