Smava to get €57 million in debt and equity from Kreos Capital, along with existing investors Earlybird, Verdane, Vitruvian Partners and Runa Capital.

Smava, a Berlin, Germany-based operator of a credit comparison platform that offers cheaper loan options to consumers, announced securing funding of €57 million.

The money represents an undisclosed combination of debt and equity provided by Kreos Capital, along with existing investors Earlybird, Verdane, Vitruvian Partners and Runa Capital.

Smava, founded in 2007 by CEO Alexander Artopé, develped a platform via which it offers an overview of 70 loans between €1,000 and €120,000 from over 20 banks and lending partners. Consumers select the loan that suits them and take it out directly. On average, Smava borrowers pay about 35 percent less interest than the German national average.