€250m fintech fund launched to support SME lending in Europe
Fasanara Capital has launched a new €250m (£213m) fintech fund to invest in working capital financing solutions for small- and medium-sized enterprises (SMEs) across the EU.
The launch was supported by the European Investment Fund (EIF), which made a “cornerstone” investment in the fund.
According to a statement by the European Commission, the fund will seek to invest in SMEs representing more than 100,000 jobs across Europe.
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This is in line with the EIF’s remit to foster private institutional investment for market-based funding solutions for European SMEs and small mid-caps.
“It is important that businesses have access to tailor-made funding solutions that help them recover from the pandemic and kick-start their activities,” said Valdis Dombrovskis, executive vice-president for ‘An Economy that Works for People’ at the European Commission.
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“I am glad that with the EFSI Private Credit Tailored for SMEs programme, we can do exactly that: support alternative sources of financing that help to boost jobs and growth in Europe.”
Francesco Filia, co-founder of Fasanara Capital, noted that the asset manager is now active in 25 countries globally, but with a key footprint in the EU.
“We help bridge the gap between credit-starved SMEs and European institutional investors willing to support them, through the use of advanced technology, in ways that are sustainable, equitable, transparent and empowered with data,” he said.
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