Capitec Bank Invests €21M in European Fintech Creamfinance
Today, Creamfinance, a leading consumer finance provider and the fastest-growing European fintech , announced the closure of a €21 million deal in Series B financing with Capitec Bank Holdings Limited (“Capitec”). This round follows a €5 million in Series A investment from international venture capital fund Flint Capital . Capitec is listed on the South African stock exchange and is the parent company of Capitec Bank that played a major role in revolutionizing banking in South Africa. The funds will be used to accelerate the company’s international expansion and introduction of a full product portfolio in existing markets. Following the investment, Capitec will nominate up to two directors on Creamfinance’s board.
"Given their expansion and focus on operational excellence, Creamfinance has emerged as a leading personal finance provider in Europe”, said Gerrie Fourie, CEO of Capitec. “We are impressed by Creamfinance’s focus on Smart Data scoring and its business model which was developed in such a way that new countries can be entered swiftly and efficiently, requiring limited investment in local infrastructure”.
Creamfinance anticipates that the investment will allow the company to expand even more rapidly and will facilitate delivery on their world mission to make finance more accessible.
"We are excited about this investment from a leading bank that, like ourselves, emphasizes technology and operational efficiency and the acknowledgements of our ability to scale fast", said Matiss Ansviesulis, Co-Founder & CEO of Creamfinance. “This investment also marks a potential new beginning in fintech and banks‘ cooperation, especially since so many hold opposing views“.
Consumer finance services provider Creamfinance was founded in 2012 in Latvia and has achieved consistent growth gaining top 3rd – 5th position in each of the operating markets. The company is currently operating in six countries both within and outside of Europe. Utilizing advanced smart data algorithms and machine-learning capabilities to quickly evaluate and score, Creamfinance offers a highly customized approach to the personal loan process in a speedy and reliable manner and aims to become a one-click loans provider to consumers globally.
The company has been ranked as the second-fastest growing company in Europe by Inc.5000 Europe ranking.
For additional information about Creamfinance: www.creamfinance.com
For additional information about Capitec: www.capitecbank.co.za
Georgijs Ustinovs, +371 294 241 75
Viktorija Gorcakovaite, +371 206 557 02
Information om Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Følg pressemeddelelser fra Business Wire
Skriv dig op her og modtag pressemeddelelser på mail. Indtast din mail, klik på abonner og følg instruktionerne i den udsendte mail.
Flere pressemeddelelser fra Business Wire
MYKRONOZ22.3.2018 17:34 | pressemeddelelse
Swiss Wearable Brand MyKronoz Breaks Worldwide Records with its Hybrid Smartwatch ZeTime, on the Sidelines of a Challenging Baselworld 2018
NC-REDWOOD-SOFTWARE22.3.2018 16:01 | pressemeddelelse
Redwood Software Announces First Industry Robotic Licensing Model to Revolutionize Transparent Marketplace Pricing
L&T-TECHNOLOGY-SERVICES22.3.2018 15:36 | pressemeddelelse
German Chemical Major Covestro Awards L&T Technology Services Multi-Million Dollar ER&D Project
SAGA-FOUNDATION22.3.2018 14:02 | pressemeddelelse
The Saga Foundation Announces Its Plan to Create a Non-Anonymous, Reserve-Backed Digital Currency
CA-BOOHOO.COM22.3.2018 13:50 | pressemeddelelse
boohoo.com Celebrates the Launch of Their Spring Collection & the Zendaya Edit with a 90s Throwback Block Party!
NJ-SYNCHRONOSS22.3.2018 13:02 | pressemeddelelse
Synchronoss Renews Agreement to Power Verizon Cloud
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum