French startup Karmen has raised $9.4m in a funding round to enhance its instant financing products aimed at small businesses facing working capital challenges.
The round includes a mix of equity and debt, with Seventure Partners taking an equity stake in the company, while Financiere Arbevel and Bpifrance contributed debt funding, according to a report from TechCrunch.
Karmen operates in the competitive space of instant financing for SMEs, facing competition from other French firms such as Silvr, Defacto, Unlimitd, and Hero.
This funding follows Karmen’s earlier announcement of securing a €100m debt vehicle, which serves as the foundation for its short-term loan offerings.
In the past six months, the company has seen significant uptake, with around 1,000+ businesses utilising its financing solutions. Its offerings include lines of credit to finance business growth and factoring to finance customer invoices. Loan sizes range between €20,000 and €3m, with repayment terms spanning from two to 24 months.
Karmen co-founder and CEO Gabriel Thierry said, “This is part of our job as a lender. But we limit these risks through our data-driven approach, which allows us to have very granular visibility into the financial and operational performance of our clients.”
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