The Swedish fintech scale-up, which was founded in 2017 and is also backed by the European Investment Fund, secured the financing from UK bank NatWest and the American investment firm Värde Partners.
Dubbed the largest funding transaction into the growing Nordic SME lending space to date, DBT says the funding will help it meeting growing demand in response to the ongoing European energy crisis, fuel price increase and inflation surge faced by millions of people and businesses alike.
The Swedish fintech company says its proprietary tech platform for risk assessment and lending has allowed DBT to lend more than 2 billion Swedish crowns in the past six years.
"Stable access to credit is crucial to the success and growth of SMEs and their positive impact on the economy. Our backing of DBT represents a further step towards our commitment to remove barriers to enterprises andallow them to grow. DBT shares our commitment to serve the growing SME market and we are pleased to further support DBT’s ambition and work with them", said Olmo Montesanti, Co-Head of Private Financing Sales Europe at NatWest.