Massive fintech fund for SMEs launched

Massive fintech fund for SMEs launched

Massive fintech fund for SMEs launched.

A massive €250 million fintech fund for SMEs has been launched by Fasanara Capital with EU backing.

The fund target size will be up to €250 million and will aim to invest in working capital financing for European businesses, representing more than 100,000 jobs across Europe.

Executive Vice-President for An Economy that Works for People, Valdis Dombrovskis, said, “It is important that businesses have access to tailor-made funding solutions that help them recover from the pandemic and kick-start their activities.

“I am glad that with the European Fund for Strategic Investments Private Credit Tailored for SMEs programme, we can do exactly that: support alternative sources of financing that help to boost jobs and growth in Europe,” he added.

Fasanara Capital was launched in 2011 as an inventive, tech-powered investment house, looking at disruptive new technologies to advance the legacy financial infrastructure.

“We help bridge the gap between credit-starved SMEs and European institutional investors willing to support them, through the use of advanced technology, in ways that are sustainable, equitable, transparent and empowered with data. We are active in 25 countries globally, but with a key footprint in the EU,” added Francesco Filia, co-founder of Fasanara Capital.

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Deirdre Tynan

Deirdre Tynan is an award-winning journalist who enjoys bringing the best in news reporting to Spain’s largest English-language newspaper, Euro Weekly News. She has previously worked at The Mirror, Ireland on Sunday and for news agencies, media outlets and international organisations in America, Europe and Asia. A huge fan of British politics and newspapers, Deirdre is equally fascinated by the political scene in Madrid and Sevilla. She moved to Spain in 2018 and is based in Jaen.