Israeli fintech platform Creditplace expands its international network to the Netherlands
Tel-Aviv based fintech Factoring Platform Creditplace acquires Dutch invoice auction trading platform Debiteurenbeurs in order to expand their European footprint. The acquisition is subject to approval from the Financial Markets Authority of the Netherlands (AFM). Founded in 2014, Creditplace operates an online peer-to-peer debt trading marketplace. Creditplace successfully grew its activity, financing more than EUR 200m of Trade Receivables in 2019. Creditplace raised a total of $10m, of which the last round of $8m was led by OM2 Ventures in 2018, in order to expand its international operations and further develop its platform. The company also has offices in Brussels, Paris and Amsterdam.
Debiteurenbeurs.nl, located in Enschede, the Netherlands, operates a similar kind of platform as Creditplace aiming at small and medium sized enterprises. Starting its activity in 2016 the company financed around €10 million of trade receivables. Debiteurenbeurs operates in a unique model of auction, allowing market price to be determined by Investors and Businesses.
“I’m very excited to have Debiteurenbeurs joining Creditplace group. Debiteurenbeurs build an impressive market, with unique business offer and robust underwriting processes. Together with Debiteurenbeurs, Creditplace really have a strong and unique offer to European SMEs, especially those underserved by banks.”, says Itamar Morad, the CEO of Creditplace Europe. “We are proud to become part of the Creditplace network and are looking forward to further build and improve our offer to SME’s, exploiting the many synergies between the companies.”, added Bernd Vinke, the Director of Debiteurenbeurs. Bernd Vinke will stay on as director of Debiteurenbeurs. The acquisition is subject to approval of the Financal markets authority (AFM).
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