Dutch revenue-based financing startup Levenue acquires Zurich fintech MidFunder: Know more
Summary
Benjamin Rieder, CEO & co-founder of Levenue, says, “We believe that combining our strengths with MidFunder’s expertise will not only benefit our Swiss clients but will also contribute to reshaping the landscape of business financing in this key market.” “We are excited about the possibilities this acquisition unlocks and look forward to the positive impact it will have on our mission to revolutionise how businesses are analysed and financed in Switzerland and beyond.” Patrick Frei and Pascal Schumperli, founders of MidFunder, observed the challenge entrepreneurs face in obtaining funding from traditional banks. To address this, they created MidFunder, offering fair and non-dilutive capital to business owners, allowing them to focus on growth without the hurdles of personal guarantees and lengthy approval processes. Additionally, underwriting decisions at MidFunder are based partially on quantitative data like accounting records and revenue growth, ensuring impartial financial evaluations. Founded in 2021 by Benjamin Rieder and Zahra Alubudi, Levenue helps subscription-based businesses leverage their prime asset: future cash flows. Patrick Frei, Founder of MidFunder, says, “When we spoke to Levenue, as one of the leading players in the RBF space globally, operating in 16 European markets, having funded over 500+ companies with ~300m in facilitated trade, it was clear to us that we share the same mission of providing a new way of funding for businesses without dilution.” Levenue co-founder, Rieder, adds, “As we enhance our operations in Switzerland, a significant market for both sides of our marketplace, we recognised the need for a strategic move to strengthen our presence.” “Switzerland, by its nature and legislation, stands separated from the EU, making it a unique market that demands a tailored approach.” “Acquiring MidFunder, a self-regulated company with a remarkably similar mindset, tech stack, and business model, presented us with an amazing opportunity.” “This strategic move allows us to accelerate and solidify our operations in Switzerland, demonstrating our commitment to providing innovative and efficient financing solutions to businesses in the region.”