finmid raises €17M to expand with Skroutz

Berlin-based embedded-lending startup finmid announced on Oct. 6 that it had raised a €17 million Series A extension to deepen its marketplace and vehicle-financing products. The round was led by Big Pi Ventures, with Mainset joining as a co-investor and existing backer Earlybird participating again.

The company said the financing brings its total funding to €52 million and will help support expansion of asset-financing products, multi-source financing infrastructure and credit-risk assessment capabilities. finmid also said part of the new capital will fund an Athens hub, which it described as a way to tap local talent and strengthen its presence in Southeastern Europe.

What is finmid building?

finmid provides embedded lending infrastructure that lets digital platforms offer financing through a single integration. The company said its system can route funding capital from the platform itself, a bank partner or finmid refinancing partners, while finmid handles credit assessment, regulated origination, management and refinancing.

That model has already been used in programs associated with Wolt, Delivery Hero and myPOS, according to reporting from Retail Tech Innovation Hub and Naftemporiki. finmid said it has made financing offers totaling more than €4 billion across 30 European markets since launch.

The company is now broadening that infrastructure beyond working-capital finance. Mononews and Cyprus Mail both described the new launch as a move into larger and more complex business-finance use cases, while Newmoney said finmid plans to expand into more platform categories including mobility and e-commerce.

How do the Skroutz and Bolt partnerships work?

finmid said Skroutz Funding will allow about 9,000 merchants on the Greek marketplace to access loans funded by Skroutz Group capital. finmid provides the infrastructure for credit-risk assessment, compliant loan origination, management and refinancing.

Naftemporiki said this is finmid’s first partnership where its credit infrastructure uses capital from the platform itself. Capital.gr reported that Skroutz Funding is designed so the marketplace funds the loans directly, while finmid handles the operational and regulatory plumbing behind them. For founders, the implication is that finmid is not just embedding debt products; it is helping platforms operate their own lending programs with a single integration.

The Bolt program extends that same approach into vehicle financing. Reporting from Capital.gr and Business Daily said Bolt Vehicle Solutions gives fleet-management businesses access to vehicle financing tailored to their needs. Customers can browse vehicles on Bolt’s platform, then connect to finmid to review financing options and complete an application. Terms reported by Capital.gr include fixed monthly installments and title transfer after the final payment.

Why do the lenders see this as an expansion?

finmid’s co-founder Alexander Talkanitsa said the company’s infrastructure now supports multi-year vehicle loans and a marketplace’s own balance sheet, according to Capital.gr and Retail Tech Innovation Hub. Co-founder Max Schertel said Bolt finances fleet vehicles while Skroutz puts its own capital behind merchants, according to Capital.gr.

Big Pi Ventures partner Nick Kalliagkopoulos described finmid as having a capital-light structure and a licensing and geographic footprint that marketplaces can plug into once and scale broadly, according to Naftemporiki and Business Daily. That framing helps explain why the company is adding an Athens hub: finmid said Greece is already one of its most important markets through efood, Wolt and Skroutz, and the new office is meant to deepen its Southeastern Europe presence.

The company also highlighted self-reported operating metrics that about 85% of borrowers return for additional financing, and that financed merchants have increased revenue on partner platforms by as much as 45%. Those figures were presented as finmid’s own claims, not independently verified performance data. Still, they suggest the startup is pitching repeat usage and merchant growth as part of the value proposition for platforms deciding whether to offer financing.

This was finmid’s first fundraising announcement since its original €23 million Series A in April 2024, according to reporting from Naftemporiki and Capital.gr. The latest extension appears aimed at scaling a model that is moving from working capital into fleet finance and marketplace balance-sheet lending, with the new Athens hub as the operational next step.