The lending platform has closed a new funding round as it looks to scale its operations in Italy.
CashMe, the Italian invoice trading platform based in Milan, Mantova andBrescia, has raised €1.5m in its latest round of funding.
The startup provides working capital financing solutions to fund SMEs growth addressing the Italian market, the fourth largest in Europe.
The company, which finances SMEs with funding against outstanding trade receivables, intends to use the funds to continue to expand operations and its business reach.
It says investors can receive returns ranging from 8 - 12 per cent.
Marcello Scalmati, CEO of CashMe said: “Thanks to the round and the partnership with the first Italian player in the subsidised financing industry, we expect huge increase in volumes and origination. Additionally we are confident the risk management area will be positively affected with new skills and expertise.”
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