- This round was led by existing investors, Tengelmann Ventures. COMPEON will use the new round to invest in its technology and platform and secure its market-leading position.
- COMPEON now has more than 250 banks and other financing partners on its platform and can provide a range of financing solutions to SMEs.
COMPEON, market leader among digital platforms for commercial financing, has received 12 million euro from its existing investors in a Series B financing. This round was led by existing investors, Tengelmann Ventures. In addition to Tengelmann Ventures, btov Partners and Dieter von Holtzbrinck Ventures also invested in COMPEON.
COMPEON provides a full-service approach to commercial financing as a brokerage platform, independent of products and providers. Customers quickly and easily find financing solutions and transparency in terms, including interest rates, equity ratios and collateral from various providers via the digital platform. COMPEON works together with more than 250 established banks, savings banks and alternative financial partners. In addition to credit, loans and leasing, the platform offers factoring and alternative financing solutions including mezzanine capital, finetrading, project financing, and private debt.
In recent months, COMPEON has significantly grown its base of clients and financing partners. COMPEON has also entered into partnerships with development banks and international vendors. The funds from this financing round will be invested in future growth and the expansion of the COMPEON technology platform. The company will also continue to push sales financing forward.
“We cover all traditional financing instruments and connect our customers to relevant providers of financing in Germany. We are already the leading digital platform for commercial financing, a position we want to secure and we are delighted that our investors have shown such commitment”, said Dr. Frank Wüller, founder and Managing Director of COMPEON.
Christian Winter, CEO of Tengelmann Ventures said: “COMPEON is a leader in the shift to digitalisation of SME financing. The COMPEON team have demonstrated that the complex requirements of commercial financing can be successfully moved to a digital platform. We are looking forward to the future growth of the businesss.”
About COMPEON
COMPEON was founded by Kai Böringschulte, Dr. Nico Peters and Dr. Frank Wüller. The platform was launched in 2013. In 2016, the fintech company processed a total of 2.5 billion euros of loan requests from commercial customers. The average loan request was approximately 700,000 euros. Depending on product class up to 50% of loan requests are financed successfully with COMPEON’s financing partners. The company currently employs more than 50 people.