New funding for European fintechs Compeon and SESAMm

New funding for European fintechs Compeon (EUR 15m) and SESAMm (EUR 7.5m)

Compeon, Germany’s largest platform for small and medium-sized enterprise (SME) financing solutions, landed €15 million, while France-based SESAMm, an analytics and artificial intelligence (AI) solutions provider for the investment sector, raised €7.5 million.

Compeon has completed its Series C round. Existing investors – Tengelmann, b-to-v Partners, and Dieter von Holtzbrinck Ventures (DvH Ventures) – were joined by three new ones: Iris Capital, NRW.BANK (Germany’s largest state development bank) and Qatar Development Bank through its investment subsidiary, Yellow Services.

“The new investors also bring exciting opportunities in terms of business development and future collaborations,” Compeon explains. “Both Iris Capital and Qatar Development Bank offer robust, wide-branching networks and enjoy tremendous international experience, which will boost Compeon’s expansion.

“As one of the leading SME catalysers in Germany, NRW.BANK is a key addition to the Compeon shareholders group as subsidies have been an important pillar of financing in the financing mix of medium-sized companies, not only since Corona. Compeon thus wants to further simplify and expand access to subsidies for companies via its platform.”

In the past four years, the company raised in total around €35 million. It provides corporate loans, and leasing and alternative financing products, with around 300 commercial banks offering financing solutions via the platform. The company says more than €1.4 billion have already been brokered through its platform to date.

SESAMm, which targets investment professionals and enterprises with its analytics and AI software, concluded a Series B funding round for over €7.5 million, led by the fintech VC fund of NewAlpha Asset Management and global investment firm The Carlyle Group. The latter is also one of SESAMm’s major clients.

Existing investors Havenrock, AngelSquare, La Caisse d’Epargne, BPI, and Banque Populaire also participated in this round.

“The investment is intended to accelerate SESAMm’s global growth, allowing it to acquire talent and expand operations in Europe, Asia and North America,” SESAMm says. Its current locations are Paris and Metz in France, New York, Tokyo, and Tunis.

“Plans for the funding also include developing AI-enabled research tools and dashboards for corporate customers, as well as continuing R&D investment in its machine learning (ML) and natural language processing (NLP) tools.”

It will also venture into new market segments, including private equity sourcing and portfolio monitoring, and environmental, social and governance (ESG) investing and risk screening.

The company’s previous funding round
took place in spring 2019 and raised €4.4 million.

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