Levenue snaps up MidFunder to broaden financing in Switzerland
Dutch revenue-based financing marketplace Levenue is looking to boost its operations in Switzerland by acquiring MidFunder for an undisclosed sum.
Levenue acquires MidFunder for undisclosed sum
Based in Zurich, MidFunder provides non-dilutive capital for digital businesses through its revenue-based financing platform, which leverages data from accounting and revenue growth to power its underwriting process.
With a focus on delivering funds at speed, the fintech says this approach is targeted at companies which might otherwise face “enormous difficulty in securing funding from traditional financial institutions” by increasing the scope of the platform’s credit decisioning.
For Levenue, its acquisition of MidFunder is set to broaden the footprint of its financing marketplace across Europe, where it now currently services subscription-based companies in 16 countries.
Since launching its offering in 2021, Levenue claims to have enabled investors to provide over €300 million in total financing.
The purchase follows its previous acquisition of fintech Cake in November, a move which enhanced the accuracy of its underwriting abilities with the Belgium-based start-up’s open banking and data enrichment solutions.
Describing Switzerland as “a significant market for both sides of our marketplace”, Benjamin Rieder, CEO and co-founder of Levenue, says the acquisition of MidFunder “allows us to accelerate and solidify our operations” and “contribute to reshaping the landscape of business financing in this key market”.
