Osborne Clarke has advised the British venture capitalist Force Over Mass and VR Ventures / Redstone on the investment in the Berlin-based FinTech Banxware as part of a EUR 15 million financing round.
Banxware was founded in 2020 by the well-known FinTech founder Miriam Wohlfarth, Jens Röhrborn, Fabian Heiss and Nicolas Kipp. The start-up's business model enables platform merchants in Germany and the Netherlands to offer loans to their SME B2B customers. Companies such as Just Eat Takeaway (Lieferando), the financial services FinTech Qonto and the German-British payment service provider Sumup currently use Banxware's financial solution. To date, the FinTech has granted a total of around EUR 30 million in loans in this way.
At the beginning of 2021, Force Over Mass and VR Ventures / Redstone already led Banxware's seed financing round totalling EUR 4 million; one year later, this seed financing round was extended by EUR 10 million. The existing investors are now involved in a further round, which Banxware has just successfully completed. UniCredit, Fabrick, a subsidiary of the Italian bank Banca Sella Group, and the existing investors have provided EUR 15 million in fresh capital.
With the new financial injection, Banxware plans to expand into further European markets and launch new products in order to win additional customer segments.
The Osborne Clarke team that advised Force Over Mass and VR Ventures / Redstone consisted of Maximilian Vocke and Dana Alpar (both Corporate / VC).