Silvr secures up to €200m credit facility to close European SME funding gap
French start-up Silvr has secured a new credit facility of up to €200 million to close Europe’s SME funding gap.
Silvr increases credit facility to support SMEs
Having closed a securitised financing transaction with Citi and Channel Capital, an alternative investment funds manager (AIFM), the initial facility will be for €67 million, backed by the loans Silvr originates to SMEs, with increases subject to lenders’ consent.
The increased financing capacity of the French digital business lending platform comes one year after it raised its first debt facility for €112 million and 17 months after its €130 million Series A funding round.
With its second regional office launched in Berlin in November 2022, the company’s statement describes the new facility as “instrumental” to its scheduled expansion across the continent.
As demand for loans among European SMEs rises amid the ongoing cost-of-living crisis, Silvr’s latest development seeks to connect more business owners to capital.
“Demand for loans has increased significantly across Europe,” comments Nima Karimi, co-founder and CEO of Silvr.
Karimi adds that by providing “more flexible options tailored to their needs”, Silvr can make it easier for European SMEs to access the funding “they need to grow”.
For Paul Wilson, Channel Capital’s chief investment officer, “Given the current economic uncertainty, it is increasingly clear there is a significant need to support the liquidity needs of the alternative lending community.”
