Expansion and Product Excellence
Berlin-based fintech Banxware has successfully raised over €15m in a Series A equity round. The embedded lending solutions provider, founded by Miriam Wohlfarth, Fabian Heiß, and Jens Röhrborn in 2020, has already partnered with 30 platforms in Germany and the Netherlands to offer financing options for their business customers. Notable clients include SumUp, JustEat, Worldline, and Qonto.
The funds raised will fuel Banxware’s plans for expanding its product offering and global presence. Co-CEO Wohlfarth emphasized the importance of product excellence and international growth. While the company aims to expand to selected countries globally, its initial focus will be on European expansion.
Aiming for Product Excellence
Wohlfarth believes that winning the lending race requires an excellent product, particularly considering the challenging economic landscape. Banxware strives to be a fantastic tech company with best-in-class underwriting. Its priority is to provide exceptional services to existing customers and expand its reach to countries with high demand, such as Germany, which is home to 3.6 million small and medium-sized enterprises.
Funding and Valuation
Banxware previously raised €4m in seed funding in 2020, and in January, the company secured an additional €10m. The recent Series A equity round was led by UniCredit and Fabrik, with participation from existing investors 13books Capital, VR Ventures, D4 Ventures, and Force over Mass. Despite a slight reduction in valuation due to market changes, Banxware’s current financing round places its valuation in the upper double-digit million euro range.