Finmid, the Berlin-based FinTech innovator, has announced a significant €35m funding round as it emerges from stealth mode.
The company, which specialises in creating seamless embedded financing solutions, is set to enhance how small and medium-sized businesses (SMBs) across Europe can access financial services through B2B platforms.
The substantial investment was spearheaded by Blossom Capital, with contributions from Earlybird VC and N26 founder Max Tayenthal. Additionally, the funding announcement coincides with news of strategic partnerships, most notably with Wolt, a leading tech company renowned for its robust local commerce platform.
Finmid is fundamentally transforming the way B2B software platforms serve their business clients. Traditionally, banks have been the primary source of business financing, but their approach has become less personal and more cumbersome over the years. Finmid addresses these challenges by enabling platforms such as Wolt and Safi to offer tailored financing directly to businesses like restaurants and retailers, thereby reinstating the personal banking relationships that were once the norm.
The new funds are earmarked for several strategic initiatives aimed at expanding Finmid’s impact. The company plans to broaden its reach into key European markets, localise its services to meet regional needs, and enhance its product offerings to ensure smoother integration with partner platforms and an optimised user experience.
Max Schertel, Co-Founder of Finmid, explained. “At finmid, our mission is to help every business access the capital it needs. But our approach might surprise you. How do we bring back the relationships that made banking work for so long? With just a few lines of code, finmid enables any B2B software platform to offer financing to its customers, building on existing relationships with restaurants, retailers, and traders to fuel its business growth.”
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