$24.7M Raised by Finmid to Facilitate Loan Access for SMBs via Platforms like Wolt

Finmid Co Founders Former N26 Employees Max Schertel And Alexander Talkanitsa
The round values the company at €100 million ($107 million), post money. But finmid believes it has the potential to lock in more business specifically in its home region. Unlike a bank, Wolt has access to the restaurants’ sales history, and finmid helps it leverage that data to decide who will see a pre-approved financing offer. The working capital doesn’t come from Wolt, but from finmid’s financing partners. For a platform like Wolt, embedding finmid is a way to make life easier for restaurants while generating additional revenue without much additional effort.