Finmid Expands SME Financing to Eight New European Markets

In a significant move to bridge the financing gap for small and medium-sized enterprises (SMEs) across Europe, finmid, a leading financial infrastructure provider, has announced its expansion into eight new markets. This strategic move, which comes amidst a €400bn funding gap for SMEs, will enable B2B platforms like Wolt and Glovo to offer the broadest geographical coverage for merchant financing in the region.

finmid's expansion into Austria, Cyprus, Czechia, Greece, Italy, Latvia, Lithuania, and Slovenia extends its footprint to 20 European countries, further cementing its position as a key player in the European financial services landscape. The company's platform-powered financing network, which enables software platforms to become personalized and convenient points of finance for SMEs, is set to revolutionize the way SMEs access capital.

Founded in 2021 by Max Schertel and Alexander Talkanitsa, finmid aims to address the critical financing needs of SMEs by offering modular and customizable financing infrastructure. This approach enables B2B platforms to provide SMEs with fast, flexible access to capital, particularly in Central, Southern, and Eastern Europe, where financing options have historically been limited or fragmented.

By embedding fast, personalized, and convenient financing directly into their software platforms, finmid empowers B2B platforms to transform SME finance. This innovative approach connects platforms, SMEs, and capital providers, creating the first platform-powered financing network designed for small businesses. As a result, finmid has extended capital to tens of thousands of merchants through pre-approved funding based on their sales, leading to a 39% increase in GMV, a 70% reduction in churn, and a Net Promoter Score of over 80 for leading platforms.

finmid's expansion into new markets is a testament to its commitment to addressing the critical financing needs of SMEs across Europe. By offering tailored financing solutions through B2B platforms, finmid is not only helping SMEs grow and thrive but also opening new revenue streams for B2B providers and fostering platform loyalty. As finmid continues to grow and expand its reach, it is poised to become a driving force in the European financial services landscape, bridging the financing gap for SMEs and empowering B2B platforms to offer seamless, branded financing options to their business customers.

In conclusion, finmid's expansion into eight new European markets is a significant step towards addressing the €400bn financing gap faced by SMEs across the continent. By offering modular and customizable financing infrastructure, finmid enables B2B platforms to provide SMEs with fast, flexible access to capital, fostering platform loyalty, boosting customer retention, and opening new revenue streams for B2B providers. As finmid continues to grow and expand its reach, it is set to become a key player in the European financial services landscape, empowering SMEs and B2B platforms alike.