Parisian fintech scaleup Silvr has secured an extra €200 million in debt funding. The working capital is aimed toward supporting additional development within the firm’s home market of France in addition to building upon the acquisition of German competitor Uplift1 earlier this yr.
There’s no denying that funding ranges are down from the splashy heights of some years prior, and in keeping with the European Commission’s SME performance review report, when requested how they price their present access to funding from a scale of 1 to 10, European SMEs give a mean rating of 4.2.
Like different revenue-based finance gamers, or neolenders, as they now wish to be referred to as, Silvr is stepping in to fill the hole with regards to offering access to development capital.
“Silvr currently originates loans for SMEs registered in France and Germany. However, our legal infrastructure from the very beginning has been set up with a European expansion in mind. Now that we signed a new securitised facility, we will be exploring that,” commented Silvr co-founder and CEO Nima Karimi. “We have seen great demand for our short-term loans in Germany, in the first 6 months after entering the market this year. We’re now on a mission to offer that same service to SMEs across Europe.”
