Fasanara Capital has announced the completion of a €250 Million Fintech Fund. The fund was backed by the European Investment Fund (EIF) with what is now being called a “cornerstone” investment.
Fasanara Capital is a boutique alternative asset manager, as well as an investor in Europe’s fintech financing sector.
The fund., with its newly acquired capital, is looking to invest in working capital financings which will support companies that provide over 100,000 jobs across Europe. This was stated in a release issued by the European Commission.
The investment by the EIF in the Fund is said to be a part of efforts aimed at providing the needed support to European marketplace lenders and crowdlending platforms – it functions as an additional channel for the disbursement of funds to SMEs.
Francesco Filia, the co-founder of Fasanara Capital, stated: “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.”
The firm currently has operations in 25 countries across the globe, but its primary market is the EU.
The fund will provide funding to European SMEs through the financing of corporate receivables originated, assessed, and priced through fintech and Artificial Intelligence (AI).
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