Small and medium-sized enterprise (SME) financing provider Creditshelf Aktiengesellschaft has agreed to buy Germany-based digital financing services producer Valendo for an undisclosed sum, enabling media company ProSiebenSat.1 to exit.
Founded in 2015, Valendo offers digital financing technology for SMEs which can utilise its collateral to borrow between €500,000 and €5m ($650,000 to $6.5m).
The company has not revealed the amount of funding it has raised but its investors include ProSiebenSat.1 Accelerator, which is operated by ProSiebenSat.1, as well as Finleap and Rheingau Founders.
Creditshelf CEO Tim Thabe said: “With the acquisition of Valendo, we are systematically driving our growth strategy of software development, cooperations and the expansion of the product portfolio.
“At the same time, we gain access to Berlin as a leading fintech hub and thereby its talent pool. Valendo will make an important contribution to the further establishment of digital SME financing in the market.”
