Challenger bank AideXa bags €45m in new funding

Italian neobank AideXa has secured €45m in seed capital to create a FinTech company focused on small businesses.

Roberto Nicastro, a former general manager of Unicredit, is the founder of the new challenger bank.

“AideXa was designed for entrepreneurs,” Federico Sforza, CEO of AideXa, recently told Economy Up, arguing that the company is designed to bridge the funding gap experienced by Italian SMEs.

Contrary to Italian rival illimity, AideXa will also not do any asset management and consumer credit.

“We hope to obtain the necessary authorisations to operate as a bank during 2021 and thus become the first FinTech bank in the country entirely dedicated to small businesses and VAT numbers,” Sforza continued.

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