Germany-based online lending platform Billie has closed a €10m ($11.8m) series A round that included e-commerce holding group Rocket Internet, Deutsche Startups has reported.
Venture capital firm Creandum led the round with participation from Avala Capital, Picus Capital and Speedinvest. The round also featured Global Founders Capital, according to AltFi News.
Billie has developed a business financing service that provides automated instant credit scoring for small and medium-sized enterprises, allowing customers to move from registration to full approval in under seven minutes.
The company has also formed a referrals partnership with Postbank, a subsidiary of financial services firm DeutscheBank, which will begin referring its smaller clients to Billie.
The startup had previously raised $4.1m in seed financing from Rocket Internet, Speedinvest, Avala Capital and Picus Capital in February 2017.