French fintech Defacto has secured an additional €10m as an extension of its Series A funding round.
In brief:
-The funding round adds to a €167m securitisation just four months ago for the Paris-based startup
-The instant embedded lending platform, founded in 2021, provides short term loans to small and medium-sized businesses.
-The funding round saw new investor Citi Ventures join existing investors Northzone, Headline and Global Founders Capital.
What does this mean?
“Lack of access to working capital is the number one cause of small business bankruptcy in Europe. That’s why we built Defacto specifically for SMBs with speed and flexibility as our guiding principles,” Defactor co-founder and CEO Jordane Giuly said.
