Construction rental startup YardLink raises funding from Speedinvest Networks

YardLink allows construction companies to obtain critical equipment faster than traditional equipment rental companies. It’s now raised a £1.7m seed round, bringing the total it’s raised to date to £2.4m. The round was led by Speedinvest Network Effects, with participation from FJ Labs.

Construction sites often have to hire equipment, but the centralized nature of the traditional hire market means suppliers can be slow to deliver, leading to downtime on-site, and delayed projects. Traditional suppliers include HSS Hire, Travis Perkins, Speedy Hire, Sunbelt Rentals. But YardLink aims to speed this process up with a digital-first, marketplace approach. It has a network of 100 suppliers with over 1,400 equipment depots across the UK.

The construction industry faces new guidelines to prevent the spread of coronavirus, such as having to provide portable site cabins and accommodation for its workforce. This, coupled with tight availability in the market and more demand for renting equipment, rather than buying it.

The global market for construction equipment rental is around $70bn.

The team consists of Neeral Shah (Founder and CEO), Matt Bloor (CCO) and Daniel Morris (CTO) .

#ceo, #cto, #economy, #europe, #fj-labs, #money, #renting, #tc, #united-kingdom

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GAIA Design has raised more capital to become the West Elm of Mexico

Designing higher end furniture for Mexico’s rising middle and upper-middle class consumers has netted the Mexico City-based GAIA $15 million in a new round of funding.

The bridge round will take the company through to a much larger capital raise planned for 2021 as the company capitalizes on the growth of e-commerce in Mexico.

A 2019 report from JP Morgan put the e-commerce market in Mexico at around $22.6 billion, and that’s with online sales only accounting for just 1.7% of the overall retail market. JP Morgan expects the market to increase at a 12.6% growth rate annually.

As with everything else, the COVID-19 pandemic has accelerated the adoption of digital services as the country’s population looks to practice safe social distancing and reduce the spread of the virus. For those consumers who can afford to shop online — even for high value products like furniture — they are, according to GAIA chief executive Philippe Cahuzac.

At GAIA the new funding will be used to add new features to the company’s online service, including consultations with interior designers, the development of curated looks, and the ability for customers to create design sketches and visualizations for products in the home. The company expects to also double down on its sales and marketing efforts with the new cash.

GAIA’s funding also helps extend the company’s vision of supporting small and medium-sized Mexican furniture producers through financial products, training and revenue management tools and educational offerings.

With its investment, IDB Invest joins existing investors in the company including Rise Capital, Capital Invest, VARIV
Capital, French Partners, FJ Labs, and Warby Parker co-founder David Gilboa .

Launched by Raffaello Starace, Hassan Yassine, and Cahuzac the company started as an online retailer exclusively, but now has expanded to 15 showrooms in Monterrey, Mexico City, Guadalajara, Puebla and Queretaro.

“We want to offer a branded and frictionless urban experience to the modern Mexican consumer,” said Cahuzac in a statement. “In five years we built the leading digital player in the home category in Mexico.”

#david-gilboa, #fj-labs, #gaia, #mexico, #mexico-city, #rise-capital, #tc, #warby-parker

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#DealMonitor – Dance bekommt 15 Millionen – About You plant IPO – UVC Partners legt 150 Millionen-Fonds auf


Im aktuellen #DealMonitor für den 22. Oktober werfen wir wieder einen Blick auf die wichtigsten, spannendsten und interessantesten Investments und Exits des Tages. Alle Deals der Vortage gibt es im großen und übersichtlichen #DealMonitor-Archiv.

INVESTMENTS

Dance
+++ Holtzbrinck Ventures investiert 15 Millionen Euro in das junge Berliner Mobility-Startup Dance, das von den Soundcloud-Gründern Alexander Ljung und Eric Quidenus sowie Jimdo-Macher Christian Springub gegründet wurde. Hinter Dance verbirgt sich ein Subscription-Service für E-Bikes. Schon vor dem Start investierte der Berliner Kapitalgeber BlueYard in Dance.  Zudem investierten auch Szeneköpfe wie Ilkka Paananen (Supercell), Jeannette zu Fürstenberg (La Famiglia), Kevin Ryan (Alleycorp, Doubleclick und MongoDB), Neil Parikh (Casper) und Bjarke Ingels (BIG Architects) in das sehr junge Unternehmen. Das Unternehmen ging im Juli mit einem Invite-only-Programm in Berlin an den Start.

Limehome
+++ Holtzbrinck Ventures, Lakestar und Picus Capital investieren weitere 10 Millionen Euro in das Münchner Startup Limehome. Das junge Unternehmen, das 2018 von Lars Stäbe und Josef Vollmayr gegründet wurde, mietet Wohnungen an und richtet diese als Apartments zur kurz- und langfristigen Miete ein. Lakestar, Holtzbrinck Ventures, Picus Capital und Global Growth Capital investierten erst Anfang dieses Jahres 21 Millionen Euro in Limehome.

Schrott24
+++ Statkraft Ventures, der Wagniskapitalableger des norwegischen Energiekonzerns, investiert gemeinsam mit FJ Labs sowie Gisbert Rühl, Vorstandschef des Duisburger Stahlhändlers Klöckner, 2,8 Millionen Euro in Schrott24 – siehe WiWo Gründer.  Der Altmetall-Marktplatz wurde 2016 von Alexander Schlick und Jan Pannenbäcker gegründet. Das Grazer Unternehmen sicherte sich zuletzt auch eine EU-Förderung in Höhe von 1,2 Millionen Euro.

breathe ilo
+++ Der aws Gründerfonds investiert 3 Millionen Euro in das österreichische Femtech Carbomed Medical Solutions, das den Fruchtbarkeitstracker breathe ilo anbietet. Entwickelt wurde das Gerät von dem Reproduktionsmediziner Ludwig Wildt und Medizintechniker Horst Rüther. “Nur ein Jahr nach dem Marktstart liegt der Exportanteil bei bereits 80 Prozent – mit 75 Prozent davon ist Deutschland der Hauptabsatzmarkt, wo breathe ilo seit Januar diesen Jahres verfügbar ist”, teilt das Startup mit.

Acapela
+++ Visionaries Club, Entrepreneur First und Business Angels wie Christian Reber (Pitch und Wunderlist) sowie Taavet Hinrikus (Transferwise) investieren 2,5 Millionen US-Dollar in das Berliner Startup Acapela. Das Berliner Unternehmen, das von Dubsmash-Gründer Roland Grenke und Heiki Riesenkampf, zuletzt Google, gegründet wurde entwickelt eine asynchrone Meeting-Plattform. Über die Plattform sollen Unternehmen flexibler als per Videobotschaft und persönlicher als per Slack kommunizieren können.

Peter Park
+++ Ein deutsches Family-Office investiert eine siebenstellige Summe in das Münchner IoT-Startup Peter Park. Das 2019 von Maximilian Schlereth, Florian Schaule, Patrick Bartler und Stefan Schenk gegründete Unternehmen entwickelt ein modulares Betriebssystem für Parkflächen. “Mit der neuen Finanzierung wird der Fokus auf das konsequente Wachstum des Teams gelegt, was als Fundament für die anstehende Internationalisierung dient”, teilt die Jungfirma mit.

Novum
Dr. Hettich Beteiligungen und der High-Tech Gründerfonds (HTGF) investieren eine siebenstellige Summe in Novum. Das 2014 in Dresden gegründete Startup entwickelt eine Technologie, die das Großspeichermonitoring von Batterien auch offline möglich macht. “Mit dem frischen Kapital soll das Produktportfolio im Bereich Großspeicher und 2nd life Schnelltests für die Automobilindustrie erweitert werden”, teilt das Unternehmen mit.

EXIT

OOTP Developments
+++ Der südkoreanische Spiele-Entwickler Com2Us, bekannt für Summoners War, übernimmt das deutsche Studio OOTP Developments. Seit 1999 setzt OOTP mit Sitz in Hollern-Twielenfleth auf PC-Sportsimulationen wie Out of the Park Baseball und Franchise Hockey Manager. OOTP stieg erst im Januar beim The Walking Dead-Studio Skybound Entertainment. Weitee Zukäufe sind geplant.

Grapevine
+++ Das Wiener Startup Orderlion, eine Bestell-App für Gastronomen und Lieferanten, übernimmt das Wein-Startup Grapevine. “Mit Grapevine kommt nun ein Startup dazu, dass bisher (der Name verrät es bereits) im Weinsegment unterwegs war und etwa 200 Winzer als Kunden aufgebaut hat” – berichtet Trending Topics. Orderlion wurde 2017 von Stefan Strohmer und Patrick Schubert gegründet. Die Jungfirma konkurriert mit Startups wie Choco, Rekki und Co.

IPO

About You
+++ Der Modeversender About You bereitet seinen Börsengang vor – siehe manager magazin. “About You, bei der letzten Finanzierungsrunde 2018 mit knapp einer Milliarde Euro bewertet, soll beim Börsengang einen Marktwert von mindestens drei Milliarden Euro anstreben. Wächst man weiter wie bisher, hoffen manche gar auf fünf Milliarden Euro”, heißt es im Bericht. Als Termin ist März 2021 anvisiert.

VENTURE CAPITAL

UVC Partners
+++ Der Münchner Kapitalgeber UVC Partners legt seinen dritten Fonds (150 Millionen Euro) auf. “Die Investorenbasis des neuen Fonds ist breit gestreut und reicht von erfolgreichen Startup-Unternehmern wie den FlixBus-Gründern über institutionelle Investoren und Family Offices bis zu Familienunternehmen und Corporates”, teilt der Geldgeber mit. UVC Partners investiert vorrangig in “herausragende europäische B2B-Startups”. Im zweiten UVC-Fonds waren 82 Millionen.

Achtung! Wir freuen uns über Tipps, Infos und Hinweise, was wir in unserem #DealMonitor alles so aufgreifen sollten. Schreibt uns eure Vorschläge entweder ganz klassisch per E-Mail oder nutzt unsere “Stille Post“, unseren Briefkasten für Insider-Infos.

Startup-Jobs: Auf der Suche nach einer neuen Herausforderung? In der unserer Jobbörse findet Ihr Stellenanzeigen von Startups und Unternehmen.

Foto (oben): azrael74

#about-you, #acapela, #aktuell, #breathe-ilo, #carbomed-medical-solutions, #com2us, #dance, #dr-hettich-beteiligungen, #dresden, #entrepreneur-first, #femtech, #fj-labs, #grapevine, #graz, #hamburg, #high-tech-grunderfonds, #holtzbrinck-ventures, #ipo, #kapital, #lakestar, #limehome, #novum, #ootp-developments, #orderlion, #peter-park, #picus-capital, #schrott24, #statkraft-ventures, #uvc-partners, #venture-capital, #visionaries-club, #wein, #wien

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Nuvemshop, a Latin American answer to Shopify, raises $30 million

After several failed startup attempts and nine years spent building Nuvemshop into Latin America’s answer to Shopify, the four co-founders of the company have managed to raise $30 million in venture capital funding as they look to expand their business.

The new funding came from previous investor Kaszek Ventures and new lead investor Qualcomm, with participation from FJ Labs, IGNIA, Elevar Equity and Kevin Efrusy, from the longtime Accel Partners investor’s personal wealth.

It’s been a long road since Santiago Sosa, Alejandro Vazquez, Martin Palombo, and Alejandro Alfonso first began working together in Buenos Aires The quartet started off on their entrepreneurial journey trying to develop a marketplace software product for Latin America, but when that didn’t take off, they turned their attention to a more basic problem — how to get small and medium-sized businesses selling online.

Now the company boasts 65,000 businesses that use its platform providing everything from billing and payment processing to logistics and shipping solutions transacting over $100 million per month in sales. Operating as Nuvemshop in Brazil and Tiendanube in the rest of the region, the company has offices in São Paulo, Buenos Aires, and Mexico City with plans to expand into Colombia and Peru in 2021.

Nuvemshop began as more of a consulting business and evolved into the suite of software tools that have managed to attract attention from investors like Qualcomm Ventures.

“Nuvemshop’s platform accelerates a company’s digital transformation and has enabled thousands of SMBs across Latin America to go digital by tapping into the company’s one-stop shop of seamlessly integrated solutions,” said Alexandre Villela, senior director of Qualcomm Technologies Inc. and managing director at Qualcomm Ventures Latin America. “We share their strong engineering focus and look forward to helping them scale their business with our investment.” 

Nuvemshop raised its first money in 2015 from Kaszek Ventures (a $5 million investment) and as the business picked up steam raised $7 million more from local investors.

It makes money by charging a subscription fee that begins at $3 per month and a transaction fee that decreases as customers buy more expensive subscription packages.

Now that the company has an established footprint in the region, it’s going to focus on three new areas of growth, according to chief executive, Santiago Sosa.

Nuvemshop chief executive, Santiago Sosa. Image credit: Nuvemshop

The company plans to launch a payment processing and logistics gateway of its own. That marketplace will give customers access to more robust shipping solutions thanks to the power of bundling lower demand into a single delivery and ordering system. Nuvemshop also pitches its customers an app store for connecting them to new developer tools.

Finally, the company intends to offer a broader array of financial services. It already offers payment processing, but will look to develop additional services around lending based on revenue.

Like Shopify, Nuvemshop provides a necessary ballast to the big e-commerce aggregation sites like MercadoLibre and Amazon . “Everything they do they try to optimize for the buyer,” Sosa said. That places incredible pricing pressure on retailers and Nuvemshop offers a direct sales alternative, with lower fees, according to Sosa.

The pent up demand that Sosa sees, is fairly astonishing.

“People are talking about e-commerce penetration going from [roughly] 10% over total retail sales to [roughly] 20%, as it has happened in other countries. We see it differently, as we envision a massive disruption around commerce in the next 15 years, and are pretty confident that [roughly] 90% of retail will be somehow tech-enabled,” said Sosa, in a statement. 

 

#amazon, #fj-labs, #kaszek-ventures, #kevin-efrusy, #mercadolibre, #qualcomm, #qualcomm-ventures, #shopify, #tc

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Hoping to be LatAm’s top digital bank for SMBs, Xepelin launches a lending and revenue management service

There’s another entrant in the startup race to provide financial services to Latin America’s small and medium-sized businesses.

Financial services have been a huge opportunity for startups coming out of Brazil, Colombia, and Mexico in recent years, and now Xepelin, a new company from Chile, is looking to join the fray.

Xepelin’s founders, Sebastian Kreis and Guillermo Molina Carvallo, launched their company with the vision of creating a new kind of online bank for Latin America’s small businesses.

Sebastian Kreis, chief executive officer, Xepelin. Image Credit: Xepelin

The company’s pitch to business owners depends on a variation of the lending tool known as factoring, where small businesses can take out loans based on the income they’re expecting to receive. In Latin America, where small businesses have limited avenues to traditional loans, according to Kreis, factoring represents a novel solution.

Xepelin already has a multi-million dollar credit line on the books in addition to a small round of initial financing and the company will be using both the credit line to bring customers in and the equity infusion to continue developing revenue management and resource planning tools for its customers.

Starting in Chile and Mexico, where the two founders have a long history in the financial services world, the company expects to become a player across the continent in line with the growth of private debt services for small businesses.

Other startups, like Portal Finance and Marco Financial are also targeting the lending markets. Like Xepelin, the two companies have secured multiple lines of credit to support their businesses.

Kreis estimates that debt financing in Latin America could grow to 70 times its current size given changes to the regulatory environment and increasing demand for digital financial services over the next decade.

In the first stage we developed the new standard for SMBs’ working capital financing in LatAm, focusing on our client’s user experience, financial needs (not only transactions) and the way they manage their working capital. Xepelin gives SMBs access to capital in an easy and efficient way.

Mexico is a good indicator of the potential size of the market, according to Kreis. There only 300,000 businesses — out of more than 6 million registered companies — have sales and account executives offering revenue management and credit lines.

These money managers ahve a portfolio of 300 companies that they work with, while mid-market companies may work with as many as 1,000 to 5,000 small businesses.

So far, Xepelin has raised $3.5 million in early stage funding from investors including Oskar Hejertonsson, Manutara Ventures, Ignacio Canals, Gonzalo Rojas, FJ Labs, Diego Fleischmann, and Daniel Undurraga. The most recent capital infusion, a $2.5 million round led by Impact Ideas VC closed earlier this month.

 

#fj-labs, #mexico, #tc

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Investors drop off $33 million for Chowbus, a delivery service for ‘mom and pop’ Asian restaurants

When big platforms have carved out large swaths of the delivery market, the best thing for an upstart company to do is to specialize.

For Chowbus, that meant building a food-delivery business that finds restaurants whose cuisines specialize in regional cuisines from Northern and Southern China, Japan, Korea, Taiwan, Thailand, and Vietnam.

It’s a strategy that has now netted the company $33 million in financing led by the Silicon Valley-based investment firm Altos Ventures and New York’s Left Lane Capital. Hyde Park Angels, Fika Ventures, FJ Labs and Silicon Valley Bank also participated in the round.

Founded four years ago in Chicago by Suyu Zhang and Linxin Wen, the company said that its goal was to connect people with authentic Asian food that’s not easy to find on delivery apps. Over the past year, the company touted significant growth in its business, a traction that can be reflected in its decision to bring on the former chief operating officer of Jump Bikes, Kenny Tsai, as its chief operating officer, and Jieying Zheng, a former Groupon product leader as its head of product.

“When we say we’re true partners to the restaurants we work with, we mean it. By eliminating hidden fees, helping them showcase their best dishes, and other efforts we make on their behalf, we really go the extra mile to help our restaurant partners succeed,” said Wen, Chowbus’ chief executive, in a statement. “We only succeed if they do.”

And seemingly, Chowbus is succeeding. The company raised $4 million in its first round of institutional funding just last year and its rise has been precipitous since then.

The Chicago-based company said it would use its new funding to expand to more cities across the US and add new products like a “dine-in” feature allowing diners to order and pay for their meals on their phone for a contactless experience at restaurants in cities that have flattened the curve of COVID-19 infections and are now reopening. 

Chowbus pitches its lack of hidden fees and footprint across 20 cities in North America including New York, Boston, Philadelphia, Chicago, Atlanta, Los Angeles, the Bay Area, Seattle, and many other cities across North America. In Los Angeles, the company offers menus in Mandarin and Cantonese and allows its users to bundle dishes from multiple restaurants in a single delivery.

Other companies are experimenting with specialization as a way to differentiate from the major delivery services that are on the market. Black and Mobile, which launched in Philadelphia but is in the process of expanding across the country, is a delivery service focused on Black-owned restaurants and food stores.

Founded by David Cabello, Black and Mobile was started in 2017 by the 22 year-old college dropout. The company launched its first operations outside of Atlanta earlier this month and is available on iOS.

“The market is experiencing a permanent shift from offline to online ordering, a trend that Chowbus is actively driving,” said Harley Miller, Managing Partner at Left Lane Capital . “Focusing on this large and loyal constituency with a vertical-approach to supporting Asian restaurants and food purveyors has allowed Chowbus to differentiate itself on both sides of the marketplace. The capital efficiency with which they have operated, relative to the scale achieved, is extraordinarily impressive, and not something we often see.”

#altos-ventures, #chicago, #china, #chowbus, #fika-ventures, #fj-labs, #food, #food-delivery, #groupon, #jump-bikes, #left-lane-capital, #los-angeles, #online-food-ordering, #philadelphia, #seattle, #silicon-valley-bank, #taiwan, #tc, #united-states

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#DealMonitor – #EXKLUSIV Market One Capital, Redalpine und Co. investieren in Magaloop


Im aktuellen #DealMonitor für den 7. Juli werfen wir wieder einen Blick auf die wichtigsten, spannendsten und interessantesten Investments und Exits des Tages. Alle Deals der Vortage gibt es im großen und übersichtlichen #DealMonitor-Archiv.

INVESTMENTS

Magaloop
+++ Market One Capital, Redalpine Capital, Atlantic Food Labs, Bestandsinvestor Piton Capital und FJ Labs investieren einen unbekannte – sicherlich aber eine siebenstellige Summe – in Magaloop. Das Berliner Startup, das von DaWanda-Gründer Michael Högemann und dem Handelsmanager Uwe Hölzer gegründet wurde, positioniert sich als “Marktplatz für unabhängige Einzelhändler”. Späti-, Büdchen- und Kioskbetreiber können über Magaloop, das man auch als transaktionalen Messengerdienst beschreiben kann, direkt bei Lieferanten bestellen. #EXKLUSIV – entdeckt über Startupdetector

Penta
+++ S7V und Presight Capital, der Geldgeber von Christian Angermayer, sowie zwei nicht genannte Family Offices investieren 4 Millionen Euro in Penta. Holtzbrinck Ventures, finleap, RTP Global, ABN Amro Ventures und VR-Ventures investierten zuletzt – im März – 18,5 Millionen in das Berliner FinTech. Unternehmen können über Penta ein Geschäftskonto beantragen. Das Startup wurde 2014 von Luka Ivicevic und Lav Odorovic gegründet.

Zksystems
+++ Finlab, Carsten Maschmeyer, Brandenburg Kapital und der Technologiefonds OWL (Ostwestfalen-Lippe) investieren 3 Millionen Euro in das junge Berliner Blockchain-Startup Zksystems – siehe Business Insider. Das Startup, das 2018 von den beiden Gründerinnen Diana Rees und Amine Ünal gegründet wurde, entwickelt eine Software, die es Maschinenbauern ermöglicht, zusätzlich zu ihren Anlagen auch Abo-Modelle zu verkaufen.

EXITS

We Pulse
+++ Das Berliner E-Healt-Startup Humanoo übernimmt seinen französischen Konkurrenten We Pulse. Humanoo, eine App, die individuelle Coachings – Stichwort: Corporate Health –  anbietet, wurde im 2016 von Philip Pogoretschnik und Rheingau Founders ins Leben gerufen. Creathor Ventures, DvH Ventures, Rheingau Founders, Rocket Internet und investierten 2018 mehrere Millionen in die Jungfirma. Humanoo kommt nach eigenen Angaben bei der Deutschen Bank, Axel Springer und Media Saturn zum Einsatz.

VENTURE CAPITAL

Cavalry Ventures
+++ Der junge Berliner Kapitalgeber Cavalry Ventures verkündet das Closing seines zweiten Fonds. Im Topf sind 80 Millionen Euro. Zielgröße waren zum Start 75 Millionen. Im ersten Fonds von Cavalry, das sich als Seed-Fonds positioniert, waren gerade einmal 20 Millionen Euro. “The increased volume provides more opportunity to continue supporting portfolio companies with follow-on financing. This is especially relevant as Cavalry leads more than 80% of its portfolio companies from angel/seed phase to a successful Series A, which is 4x European industry average”, teilt der Geldgeber mit.

Achtung! Wir freuen uns über Tipps, Infos und Hinweise, was wir in unserem #DealMonitor alles so aufgreifen sollten. Schreibt uns eure Vorschläge entweder ganz klassisch per E-Mail oder nutzt unsere “Stille Post“, unseren Briefkasten für Insider-Infos.

Startup-Jobs: Auf der Suche nach einer neuen Herausforderung? In der unserer Jobbörse findet Ihr Stellenanzeigen von Startups und Unternehmen.

Foto (oben): Shutterstock

#aktuell, #atlantic-food-labs, #berlin, #cavalry-ventures, #e-health, #finlab, #fintech, #fj-labs, #humanoo, #kapital, #magaloop, #market-one-capital, #penta, #piton-capital, #presight-capital, #redalpine-capital, #s7v, #venture-capital, #we-pulse, #zksystems

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B2B challenger bank Finom raises $7M Seed from Target Global and General Catalyst

Just as challenger banks have appeared in the B2C space, so to have B2B startup banks aimed small businesses, among them startups like Qonto (Fr), Tide (UK), Penta (GER) and CountingUp (UK).

Today another such firm, Finom, has closed a €6.5m ($7M) seed funding round led by Target Global, with participation from General Catalyst. Further investors include FJ Labs, Raisin founders Tamaz Georgadze, Frank Freund and Michael Stephan, and Ilya Kondrashov, the founder of MarketFinance. The company will primarily use the fresh capital to develop its product, and to expand further into Italy and France in the summer of 2020.

Finom puts accounting, financial management and banking functions for early-stage businesses and SMEs into one ‘mobile-first’ product. Businesses can set up an online account, with accounts payable and account receivable from both the app and the site in fairly short order. The company was started by the team that also launched Modulbank, ‘neobank’ for SMEs in Russia.

Konstantin Stiskin, co-founder of Finom, told Techcrunch: “The EU SME banking market size is more than €100bn. But according to McKinsey research, European entrepreneurs spend 74% of their time on non-core activities and pay for expensive and inconvenient products. Our goal is to enable small businesses in Europe to become more efficient and to thrive.”

He added: “We are not just a card with an account. We aim to be a foundation for SME’s and their everyday business, covering banking, accounting and financial management within one product.

Finom is now live in France, Italy and Germany and started with e-invoicing in Italy, which allowed it to gain market knowledge and collect the data for accounting/payments and lending.

Mike Lobanov, General Partner and COO at Target Global said: “At Target Global we are great believers in the SME segment… The team of exceptional entrepreneurs standing behind Finom shares our view, and has already built a new standard for offering financial services to SMEs.”

Although Target Global is headquartered in Berlin, it has more than €700m in assets under management, with offices in London, Tel Aviv and Barcelona. Poortfolio includes companies such as Auto1, Delivery Hero, Omio (formerly GoEuro), TravelPerk, Rapyd and WeFox.

#banking, #barcelona, #berlin, #challenger-banks, #co-founder, #coo, #countingup, #delivery-hero, #europe, #european-union, #financial-management, #financial-services, #fj-labs, #founder, #france, #general-catalyst, #germany, #goeuro, #italy, #london, #omio, #penta, #qonto, #rapyd, #russia, #target-global, #tc, #techcrunch, #tel-aviv, #travelperk, #united-kingdom, #wefox

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