Silvr, the France-based fintech startup who says to be re-inventing the financing for e-businesses has recently raised €3 million (£2.6 million approx) in funding. Silvr will use the funding for further development and expansion of its financing platform across France.
Silvr, which is a year-old company raised the funds from leading investors such as ISAI, Serena Capital and Idinvest and Business angels like Marc Menasé (Founder of Founders Future), Didier Valet (Former COO of Société Générale), Matthieu Stefani (Co-founder of CosaVostra, podcast Generation Do It Yourself) and Michaël Diguet (Co-founder of Algoan).
Founded by two serial entrepreneurs, Nima Karimi and Grégory Tappero, Silvr finances the e-businesses, who can’t access bank loans and are looking forward to raising equity capital.
Revenue based financing model
The companies in need, register on Silvr with their digital campaigns accounts, get the finance in 24 hours and reimburse Silvr according to turnover. Silvr accounts for 6% to 9% commission of the financed amount with the guarantee of 100% capital retention.
“We noticed online businesses are not very well-served by financing options available on the market today: banks prefer asset finance and raising funds is not the most suitable solution for all companies. Silvr paves a fresh path by offering a financing scheme that is new to France, simpler, and more transparent. It relies on the companies’ performance and scalability,” says Nima Karimi, CEO and co-founder of Silvr.
Thierry Vandewalle, General Partner at ISAI:
“We impressed by how well Silvr positioned and the innovativeness of its co-founders’ vision. Silvr offers an alternative to companies that rely on financing their online campaigns in order to grow and sustain their business. We are delighted to be part of this first round of financing, which will allow Silvr to broaden its approach and position itself as the leading player for financing e-businesses’’.
Around 15 online retailers have already multiplied their turnover in just 3 months with Silvr financing their digital campaigns. Further, the Paris fintech aims to spread a new financing scheme, by hiring a dozen new employees and onboard a hundred customers within 18 months.