The German fintech startup Fincompare has raised €2.5 million in seed financing. The funding comes from the VC Speedinvest and Uniqa insurance, both from Austria. Several business angels from Berlin also participated in the round.
The Fincompare platform allows SMEs to receive and compare various offers for loans - anywhere from €10,000 to €5 million. Fincompare recognized that many young fast-growing startups, and also many small and medium-sized enterprises often need financing, so it created the platform to allow these companies to compare different options. The fintech startup currently provides services from 200 financing partners, including banks, service providers and other fintech companies.
Choosing the right type of financing to go for can be complicated for startups, "An entrepreneur does not want to answer 100 questions - or to do a master's degree in corporate finance," says Stephan Heller, founder of Fincompare. The platform is therefore intended to help companies make this decision easier, using a targeted questionnaire and other tools.
Read more: Gruenderszene (German)