Infinitec unleashes digital finance solution for German SMEs
Germany-based Infinitec has unveiled a Software-as-a-Service (SaaS) solution for integrated finance management for SMEs.
Its offering is designed for banks, insurance firms and corporations who are targeting SMEs. According to the company, there are more than 2.5 million SMEs registered in Germany, “many of which are partly digitised” and who provide online services to their customers via a website or app.
Infinitec says: “At the moment entrepreneurs have to either manage their finances manually or use various different providers for each individual service. Revenues and cash flow statements have to be tediously calculated, therefore loan applications are time consuming and often analogue processes.”
The “CFO-as-a-Service-cockpit-solution” lets SMEs plan and manage company finances with direct access to custom-made banking and insurance products. Infinitec pools all finances in a digital form – “it is a solution from SMEs for SMEs”.
The company was founded by Helmut Kranzmaier (MD) and Emilio De Lazzari. The 40-person Infinitec team worked for around 12 months developing the product.
Prior to joining Infinitec, Kranzmaier worked in banking and consulting, holding a management position in, amongst others, the Deutsche Bank business and investment division for ten years.
It got the help of fintech incubator FinLeap. The latter has also recently assisted digital account exchange provider FinReach and cybersecurity start-up Perseus.
FinLeap was founded in Berlin in the summer of 2014 by HitFox Group and Ramin Niroumand as a company builder specialised in fintechs.
Each venture gets seed funding from €500,000 up to €5 million – and access to a network of investors, an integrated development platform and advice on best practice processes. FinLeap’s team is made up of over 500 employees from more than 40 countries.
