October provides SMEs with credit lines and a loan it guarantees to offer a few days after an application. The firm says it uses intricate data and analysis to ensure that its loans are risk-free.
It currently provides services in France, Spain, Italy, the Netherlands, and Germany.
The €200 million will focus on helping Italian SMEs in cooperation with Intesa Sanpaolo Group, while €38 million will be used for the tourism and hospitality industry, and €20 million will go towards traditional SME loans.
[CEO:] “These investors were all won over by October’s technology… [It] allows them to efficiently deploy large sums while respecting standardised processes following precise and tailor-made risk policies.”