TeamSystem acquires 61% majority stake in Italian SME credit mediator Change Capital
Italian business software solutions provider TeamSystem has acquired a 61% majority stake in Change Capital, a Milan-based fintech providing AI-backed credit mediation services for SMEs.
TeamSystem acquires 61% stake in Change Capital
The acquisition, which is for an undisclosed sum, is set to add over 200 financial solutions to TeamSystem’s remit, including an enhanced position in credit brokerage services alongside an extended reach with new medium-to-long-term credit solutions.
These capabilities are to be made available to the two million customers TeamSystem claims to serve with business management software throughout Italy and Spain, consisting of predominantly SMEs and microenterprises.
“This operation strengthens our presence in fintech, which has now become a fundamental and distinctive component of our offering,” Federico Leproux, CEO of TeamSystem says in a translated statement. “Our entry into Change Capital allows us to add a new, important piece to continue growing.”
“Change Capital continues to grow with renewed support from TeamSystem,” adds Francesco Brami, CEO and co-founder of Change Capital.
“We aim to position ourselves among the market leaders in the fintech sector, through an integrated proposal of credit mediation and subsidised finance…responding with flexibility and speed to the ever-increasing demand for access to alternative sources of finance,” he continues.
Founded in 2009 with offices across Milan, Brescia, Florence, Arezzo and Viterbo in Italy, Change Capital operates a CC-Suite integrated digital platform that offers a range of services to help democratise access to financing for businesses.
These include invoice monetisation, structured finance options, immediate liquidity, purchasing inventory, and financing investments, supported by AI-powered algorithms which analyse financial data to predict cash flow requirements.
The company claims to have achieved approximately €5.5 million in turnover last year when it managed almost 1,000 transactions for over 500 clients.
