Italian fintech Banca AideXa secures €16m capital raise

Banca AideXa Secures €16 Million in New Capital: Key Points

1. New Funding and Total Capital:
   • Secured €16 million in fresh capital.
   • Total capital raised now at €96 million.
   • New investor: Italy’s largest business association, ConfCommercio.
2. Company Objectives:
   • Break even within the coming year.
   • Achieve €700 million in credit stock.
   • Generate €30 million in revenues.
3. Company Background:
   • Launched in 2020, headquartered in Milan.
   • Specializes in providing credit to micro and small businesses.
   • Utilizes AI and open banking technology.
4. Previous Financing:
   • Four years ago, secured €48 million, the largest financing for an Italian fintech start-up.
5. Recent Success:
   • Recorded a 25% increase in disbursements in Q1 2024, despite the “credit crunch.”
6. Strategic Relationship:
   • ConfCommercio aims to develop a strategic relationship with Banca AideXa.
   • Focus on implementing new tools for better access to credit for micro and small businesses.