Finmid, a German financial infrastructure provider focused on B2B marketplaces, has officially launched after securing €35 million in early-stage equity funding.
Blossom Capital, Earlybird VC, and N26 founder Max Tayenthal participated in this funding round for the Berlin-based fintech company, which was established in 2021 by former N26 employees.
Finmid highlights the growing disconnect in banking services, particularly for small and medium-sized enterprises (SMEs). It believes that B2B software platforms can bridge this gap with their assistance.
The company enables these B2B platforms to provide their SME customers with access to tailored financing solutions through a few lines of code. This system leverages real-time data to facilitate lending decisions that can be made in just a few hours.
Recently, Finmid partnered with Wolt, a tech firm known for its local commerce platform, which has introduced a cash advance feature for its merchants. Vincent Huang, Wolt’s Chief Product Officer, stated, “Together with Finmid, we’re able to provide easy and flexible access to additional financing, helping our partners develop their businesses and have a safety net during tough times.”
The new funding will enable Finmid to expand into core markets, localize its operations, and offer more financing options for smoother platform integrations and enhanced user experience.
Max Schertel, co-founder of Finmid, expressed, “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 business growth.”