Germany's leading loan comparison, Smava, receives capital for expansion
The Background The crowd-funding philosophy has long since taken hold of the lending sector (the key word being: kickstarters). Smava, who was one of the first online providers, is expanding its service offering by introducing a comparison tool.
The Deal Smava's equity capital is being increased by a total of 34 million dollars. The largest contribution of capital comes from the venture capital investor, Runa Capital and large sums are also being provided by Verdane Capital, Mojo Capital and Earlybird. IEG initiated and advised the investment from Mojo Capital.
The Partners Founded in Berlin in 2007, Smava is endeavouring to establish a market-leadership position in peer-to-peer lending in Germany and is also establishing itself as a loan comparison portal. The financiers come from Silicon Valley – Runa Capital – and Europe: Verdane Capital is based in Stockholm, Mojo Capital in Luxembourg and Earlybird in Munich. The IEG is acting as a financial advisor to Smava.
The Prospects Smava is developing its scoring technology, in order to bring lenders and borrowers together at the most attractive possible rates. This injection of capital will be used to expand its customer base and recruit new personnel. Smava is dedicated to executing its mission to provide fully automated personal loans at the best possible interest rates.