Parisian fintech scaleup Silvr has secured an additional €200 million in debt funding. The working capital is aimed at supporting further growth in the company’s home market of France as well as building upon the acquisition of German competitor Uplift1 earlier this year.
Technically classified as a credit facility “up to” €200 million, Silvr’s newest round of working capital was provided by Citi and Channel. To date, Silvr has raised over €300 million, the vast majority of which is debt funding used as working capital.
There’s no denying that funding levels are down from the splashy heights of a few years prior, and according to the European Commission’s SME performance review report, when asked how they rate their current access to funding from a scale of 1 to 10, European SMEs give an average score of 4.2.
Like other revenue-based finance players, or neolenders, as they now like to be called, Silvr is stepping in to fill the gap when it comes to providing access to growth capital.
“Silvr currently originates loans for SMEs registered in France and Germany. However, our legal infrastructure from the very beginning has been set up with a European expansion in mind. Now that we signed a new securitised facility, we will be exploring that,” commented Silvr co-founder and CEO Nima Karimi. “We have seen great demand for our short-term loans in Germany, in the first 6 months after entering the market this year. We’re now on a mission to offer that same service to SMEs across Europe.”