News28.01.2021
15 million Euro Series C for COMPEON
Our portfolio company COMPEON, Germany’s largest platform for SME financing solutions, raised € 15 million in Series C funding. The European venture capital specialist Iris Capital, the largest state development bank in Germany, NRW.BANK and Qatar Development Bank through its investment subsidiary Yellow Services are joining this financing round alongside Dieter von Holtzbrinck Ventures and all other existing investors.
“We are very happy to welcome new investors who bring extensive experience and market knowledge in addition to capital for the further scaling of our business model, as well as the commitment of all existing investors. This new round will allow us to keep on investing in growth and consistently expand our market leadership,” says Dr. Frank Wüller, co-founder and managing director of COMPEON.
The new investors also bring exciting opportunities in terms of business development and future collaborations: both Iris Capital and Qatar Development Bank offer robust, wide-branching networks and enjoy tremendous international experience, which will boost COMPEON’s expansion. As one of the leading SME catalysers in Germany, NRW.BANK is a key addition to the COMPEON shareholders group as subsidies have been an important pillar of financing in the financing mix of medium-sized companies, not only since Corona. COMPEON thus wants to further simplify and expand access to subsidies for companies via its platform.
"Compeon has succeeded in digitizing the granting of corporate loans on a broad scale. SMEs benefit through a better comparability of loan conditions from different banks and a significantly accelerated approval process. Financial service providers, on the other hand, benefit from the technology- and data-driven acquisition of suitable loan volumes. Even in 2020, a turbulent year for SMEs, Compeon has proven to be an extremely valuable partner to financial service providers and SMEs. We look forward to continued strong growth in the coming years."
In the past four years, COMPEON raised in total around € 35 million. In the meantime, the B2B tech company has built the leading digital financing platform for companies in Germany. The existing investors are Tengelmann, b-to-v Partners, and Dieter von Holtzbrinck Ventures. Its offer includes corporate loans, leasing and alternative financing products, providing a comprehensive coverage of all typical financing projects for companies on one single-stop, the COMPEON platform.
Today, around 300 commercial banks as well as other financial service providers are offering financing solutions via the platform. More than € 1.4 billion have already been brokered to companies via various financing products through the COMPEON platform.