Aidexa, a challenger bank focusing on SMEs, has raised €45mn seed funding.
Aidexa uses AI and Open Banking to support SMEs.
It targets the seven million businesses in Italy with a turnover less than €10mn.
The funding comes from Generali Group, Banca Sella, IFIS as well as others.
What does this mean?
The Fintech says it wants to break even in three years and have 100,000 customers by the end of 2025. While it currently offers loans and some other services, it wants to have a full banking licence by the end of next year.