Banxware raises ten million euros
The fintech wants to drive embedded financial services in Germany. This has convinced investors like Element Ventures.
In the course of an extended seed financing, the Berlin-based start-up Banxware receives ten million euros. The round was led by Element Ventures. Also joining as investors are D4-Ventures, FinVC and Varengold Bank AG. Existing investors Force over Mass, VR Ventures and HTGF also increased their investments.
"In such a short time, they have already acquired a number of major customers and delivered a phenomenal product," says Element Ventures, explaining its investment. With the newfound capital, Banxware plans to grow its team and drive product development, sales and marketing on digital platforms across Europe.
Banxware is a Lending-as-a-Service provider for embedded financial services, offering payment and financing options on digital platforms. This aims to close a link between banks, platforms and merchants to benefit from open banking. Well-known customers of Banxware include Penta and Lieferando.
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