Berlin-based fintech Banxware closes a €4M seed round

Banxware announced that it closed a €4 million seed round of funding led by Force over Mass and VR Ventures. HTGF and a group of angel investors also participated.

Founded in September 2020 by Miriam Wohlfarth, Jens Röhrborn, Fabian Heiß and Nicolas Kipp, Banxware provides software-as-a-service for embedded financial services that enable any digital platform such as marketplaces, payments providers, and other aggregators to offer white label financial products, especially loans, to SME customers.

“While traditional bank loans take up to three months and even the most innovative product-based finance up to five days, we were able to drastically reduce this time thanks to newest technologies and artificial intelligence. With us, platforms can offer loans, and within 15 minutes the customer has the money in the bank. This is a new record time which does not exist in the market so far,” Wohlfarth said.

Banxware’s first product was a white label SME lending solution, and in December the fintech received a €100 million loan facility from Vereinigte Volksbank Raiffeisenbank eG and VVRB for its implementation.

The fresh capital will allow the startup to develop and grow its embedded white label financial services offering with card-based products and others. Banxware will also expand sales to digital platforms across Europe and its team.