MidFunder Now Part of Levenue

Zurich/Breda – MidFunder has been acquired by Levenue. Levenue intends to strengthen its Swiss business and is now active in 16 European countries. Both Levenue and the Zurich-based fintech start-up focus on financing companies with recurring revenues.

Levenue, Europe's largest company for revenue-based financing (RBF), has acquired the Zurich-based fintech start-up MidFunder. Levenue, which has headquarters in Breda in the Netherlands and in London, sees this acquisition as a strategic step towards strengthening its Swiss business, according to its press release. According to Levenue CEO Benjamin Rieder, as a non-EU member, the country is a "unique market that requires a tailored approach". And MidFunder is a company with a "remarkably similar mentality, a similar technology stack and a similar business model", according to the press release. "When we spoke to Levenue, one of the world's leading RBF players operating in 16 European markets and having financed more than 500 companies with a volume of 300 million euros, we realized that we share the same mission, which is to offer new financing opportunities for companies without dilution," MidFunder co-founder Patrick Frei is quoted as saying. Frei founded MidFunder together with Zahra Alubudi, who is now COO of the company.

MidFunder has developed a platform for revenue-based financing and offers companies non-dilutive capital. One of the main advantages of this platform, according to Levenue, is that it evaluates companies within 48 hours and funds are usually received within three days of listing on the marketplace.

The underwriting process, which includes accounting data and an analysis of sales growth, ensures an unbiased assessment. The evaluation of quantitative data, for example with regard to accounting or sales growth, also contributes to this. ce/mm

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