fulfin, the platform for working capital financing of e-commerce companies and digital business models, was built 2 years ago by alternative lending experts Nathan Evans and Dr. Alfred Gruber. The last pre-seed round is now already a year ago - but now follows the next investment for the fintech startup from Munich, which was able to expand its business tenfold within the last year.
fulfin is an alternative lending platform that redefines working capital financing for e-commerce companies. fulfin's proprietary risk scoring and collateral model assesses creditworthiness by evaluating bank and e-commerce data to find the optimal financing for work capital. Banks struggle with such flexible financing options for online brands. "Moreover, it is very important for our clients to grow as fast as possible and reach their full potential without wasting critical months looking for investors" describes fulfin Co-Founder Dr. Alfred Gruber, "and even if they succeed, fulfin's approach usually leaves more for the entrepreneur in the end."
Since the outbreak of COVID-19, online trade has been booming, which is why fulfin was able to increase sales impressively during the crisis period. In addition, fulfin was able to bring well-known partners on board and has recently started cooperating with Penta Bank, among others.
Experienced investors continue to back the business model and support expansion
With an investment in the seven-digit middle range, the company wants to take the next steps and continue to grow.
Hevella Capital, which, as an experienced fintech investor, is the fulfin team has supported since the beginning, participates, as does the Lakeside Beteiligungs AG With this new round of financing, fulfin is financially well positioned to continue developing its product and team in a targeted manner and to continue on its growth path.
"We are very pleased with fulfin's successes to date and look forward to supporting the fulfin team in continuing the company's impressive development. The team has the right combination of expertise in non-bank financing, e-commerce and risk management ", says Markus Kreipl of Hevella Capital. "Last but not least, the proprietary developed platform as well as the risk scoring model provides the essential foundation to reshape working capital financing for e-commerce merchants in an innovative and sound way."
Further products for online companies already in development
fulfin will use the funding to further develop its lending platform and proprietary scoring algorithm and continue to establish itself as a leading financial partner for the e-commerce industry.
"Our strong growth proves that there is a strong need for an innovative finance partner that specialises in online business. We see an exciting opportunity here to help thousands of e-commerce businesses across Europe improve their liquidity and sustainably finance their growth," explains fulfin co-founder Nathan Evans.