ING backs FinCompare, the German comparison platform for SME financing
Summary
FinCompare , the German fintech startup that offers a comparison platform for SME financing, has closed €10 million in Series A funding.The comparison site currently only operates in Germany and since entering the market in February 2017 says it has attracted more than 2,500 customers and has processed more than one billion Euros.The FinCompare platform itself follows a pretty traditional price comparison model, letting small to medium-sized businesses find, compare and even close a variety of financing options such as credit, leasing, factoring and finetrading.The fintech is also keen to talk up its independence in light of backing from ING Ventures, noting that remaining neutral in terms of the products it pushes is essential for any comparison platform.Netherlands and Poland are also on the list, along with the U.K. “We are planning to launch in the U.K. in 2019, perhaps even through an acquisition,” FinCompare founder and CEO Stephan Heller tells me.