German credit broker Smava today announced that it has closed a 34 million US$ investment which was led by growth investor Runa Capital, with additional participation from Verdane Capital and mojo.capital. Runa Capital is a venture capital firm with other investments in Zopa, Lendingrobot and Lendio. Verdane Capital is a Scandinavian private equity firm. Existing investors including Earlybird Venture Capital also participated in the investment. This series C round follows the previous round in 2015 which was 16 million US$. In total Smava, which launched in 2007, has raised about 64 million US$ so far.
Smava wants to use the funding to expand the customer base, hire additional talent and continue enhancing our scoring technology according to CEO Alexander ArtopÃ©.
Smava connects private borrowers with a broad selection of banks andÂ private investors on its marketplace. Smava offers personal loans ranging from 1,000 to 120,000 Euros. The company states that has originated a cumulative loan volume of more than 1.75 billion US$ since inception.Â Currently, more than 180 employees work for the Berlin based company. Smava started as a p2p lending startup but later concentrated on loan comparison and loan brokering.