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September 7, 2018

German fintech CrossLend raises €14m in new funding

CrossLend has raised €14m in new fresh funding round from ABN AMRO’s Digital Impact Fund (DIF), Earlybird and solarisBank.

The investors also agreed to form a strategic partnership with CrossLend to improve access to international capital for Dutch companies.

ABN AMRO Digital Impact Fund director Hugo Bongers said: “CrossLend is an established player that has found a way to handle Europe’s complex cross-border capital market flows more efficiently.

“We believe that this solution will set a possible new industry standard. In addition, this investment further broadens and strengthens our local relationships in Germany, being one of the leading fintech countries in Europe.”

The CrossLend digital platform focuses on facilitating capital movement across the EU region in order to develop a transparent credit market.

Additionally, it provides the lenders additional opportunities to expand their footprint and credit portfolio.

CrossLend CEO Oliver Schimek said: “Our aim is to make the whole international lending ecosystem more efficient, more transparent and more profitable. And to make sure that we serve both banks and entrepreneurs – a win-win-win.”

ABN Amro has created the DIF as a corporate venture capital fund that will support promising fintechs to scale up operations.

Besides CrossLend, the DIF has funded six additional companies including Germany’s solarisBank, US fintech firms Cloud Lending Solutions and BehavioSec.

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