Italian fintech lender Credimi sees huge lending growth during coronavirus pandemic
Credimi was one of the first players to promote transactions aimed at quickly freeing up liquidity for Italian SMEs whose business was impacted by the Covid-19 emergency.
Italian digital lender Credimi has lent more €450m in 2020, with originations growing 39 per cent compared with the same period in 2019 thanks to a pivot to providing government-backed loans to SMEs.
Like in the UK and many other countries around the world, Italy’s government stepped in to provide assurance to loans to firms during the pandemic. Credimi has been one of the main suppliers of loans backed by Italian State-guarantees.
This has brought the Italian lender to hit the record figure of €1.2 bn of lending since its foundation in 2017.
Ignazio Rocco, Founder & CEO of Credimi, says the first nine months of 2020 were “very challenging”
“Not only have we supplied a very high amount of funding, both this year and since the beginning of the activity (in June we reached one billion euros supplied since our birth), but we also reached breakeven.”
"Credimi's growth is on a par with, if not faster than, that of other European fintechs, born a few years earlier, and this fills us with pride, because it means that Italy is catching up quickly.