Neo-lender Silvr lands €200m securitised facility deal

Neo-lender Silvr lands €200m securitised facility deal

Silvr, an innovative neo-lender focused on serving small and medium-sized enterprises (SMEs), has achieved significant strides in the past few years since its inception in 2020.

The company has underwritten its 100th loan within its first year and deployed €100m towards SMEs by its second year, earning its place as the fastest-growing neo-lender in continental Europe. Now, in celebration of its third anniversary, Silvr has revealed a groundbreaking milestone; the signing of a new securitised facility of up to €200m with Citi and Channel.

The raised funds are intended to accelerate Silvr’s growth and expand its lending capacity. Silvr’s Chief Capital Officer, Benjamin Soussan, stated his excitement about the concluded transaction, which he described as a resilient source of debt capital that the company has been nurturing since its early days.

Silvr’s mission is centred around providing SMEs with accessible and timely funding, helping them scale in a challenging European market. The company uses real-time data-scoring algorithms to approve loan applications within hours, effectively enabling quick, easy and reliable financing. Silvr’s innovative model aims to bridge the growing funding gap for SMEs, a problem underscored by the European Central Bank’s recent survey that predicts a 2.7% contraction in corporate lending in 2023.

With the newly raised €200m, Silvr plans to offer up to €200m worth of new loans, potentially aiding thousands of businesses in securing funds within 48 hours. This strategy aims to tackle the significant issue of limited funding access, as indicated by European SMEs’ average rating of their current funding access being a mere 4.2 out of 10.

Nima Karimi, co-founder and CEO of Silvr, shared the company’s expansion aspirations. Although Silvr currently originates loans for SMEs registered in France and Germany, their infrastructure has always been established with a pan-European expansion in mind. Following the newly signed securitised facility, the company will explore further expansion possibilities.

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