Banxware raised €4 million in a round financed by Force over Mass, VR Ventures and HTGF

Banxware, a Berlin, Germany-based software-as-a-service provider for Embedded Financial Services, announced in a press release that it secured a seed funding round of €4 million ($4.8M).

The money was raised from investors led by Force over Mass and VR Ventures, joined by HTGF and a group of angel investors such as Jan Kaniess, Carl Frederic Zitscher, Alex Urdea, CJ Lanktree, as well as Paula Blazquez Solano.

At the same time, Banxware announced that it secured a €100 million loan facility from Vereinigte Volksbank Raiffeisenbank eG, VVRB in December 2020.

The proceeds will be used to develop and grow its embedded white label financial services offering and its team, as well as expand sales to digital platforms across Europe.

Banxware, founded in 2020 by Miriam Wohlfarth, Jens Röhrborn, Fabian Heiß and Nicolas Kipp, develops software that enables any company to offer loans and other banking services to SME customers. The platfom aims to provide the link between banks, digital platforms, and merchants and enables all parties to benefit from the latest state of the art technologies and open banking. The company's first embedded product is a white label SME lending solution part of a portfolio including card-based products and other financial services, complementing its existing lending solution to business customers of platforms.