Italian fintech Banca AideXa secures €16m capital raise
Italian fintech Banca AideXa, a digital lender specialising in providing credit to micro and small businesses, has secured €16 million in fresh capital.
Banca AideXa secures €16 million in new capital
The funding, which brings the company’s total capital raised to €96 million, sees the company add Italy’s largest business association, ConfCommercio, to its roster of investors.
Banca AideXa states that the new financing will enable the firm to achieve its objectives for the coming year, which include breaking even, obtaining €700 million in credit stock, and generating €30 million in revenues.
Launched in 2020 and headquartered in Milan, Banca AideXa utilises artificial intelligence (AI) and open banking to offer credit and support the growth of micro and small businesses.
The new capital increase, which comes four years after the company secured the “largest financing ever made for an Italian fintech start-up” of €48 million, comes off the back of recent success for the firm. Banca AideXa claims to have recorded a 25% increase in its disbursements in Q1 2024, despite what it refers to as the “credit crunch”.
In a translated post on the investment, Giovanni Da Pozzo, VP of Confcommercio Imprese for Italy, says the organisation wants to “develop a strategic relationship with Banca AideXa” with the aim to implement new tools to provide better access to credit for the country’s micro and small businesses.
