Marketplace lending company Prestatech raises €4m in funding

Marketplace lending company Prestatech raises €4m in funding

Prestatech, which offers data collection, risk assessment and integrated finance solutions, has raised €4m in funding.

The investment was led by CDP Venture Capital Sgr, with participation coming from Alchimia Spa and Vantage 20 SA.

This capital injection will help Prestatech bolster its operations in Italy and bolster its presence in the local banking market. It will also leverage the funds to build new integrated finance products.

Prestatech aims to help financial institutions and trading platforms make better decisions through reliable alternative data. Its technology automates data gathering, lending processes and embedded finance solutions with digital products based on alternative financial data.

The platform boasts full credit and behavioural analysis based on transactional data that can be enriched with traditional data points such as credit bureaus and databases.

Prestatech CPO Luca Terragni said, “The closing of this capital increase testifies to the goodness and solidity of the innovative solutions that we offer to the market.

“The company is well positioned to continue growing in the coming years with a significant impact in the industry, providing high-tech solutions not only to financial institutions, but also to marketplaces and trading platforms.”

In other marketplace lending news, business lender TradeBridge recently secured up to £100m in a credit facility from Castlelase, a global investment manager.

TradeBridge offers revenue-based finance to National Health Service pharmacies and dental practices across the UK that wish to bolster their capital position. It leverages real-time trading data and other business information to get a clearer understanding of the company’s strength.

Elsewhere, Filipino FinTech startup Advance, which helps employees get early access to their salary, raised $16m in its pre-Series A funding round.

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