Berlin-based startup Smava has raised $65 million in funding to expand its loan platform outside of Germany, the company announced yesterday.
The startup will use the capital to grow its loan portal, where consumers can search for and take out loans. Smava originally started out as a P2P lender, matching borrowers with willing individual lenders via data analytics and its own credit scoring system.
The company pivoted to include bank-issued loans, and now uses those same data analytics to match borrowers with a list of loans that best fit a user’s financial history and needs.
With the addition of this $65 million, a round led by U.K.-based private equity firm Vitruvian Partners, Smava has raised over $132 million to expand its platform according to data from CrunchBase.
Read more at TechCrunch and CrunchBase.
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