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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.

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