German p2p lending service Smava has raised 4 million Euro in a new round. New investor in this round is the largest Italian private bank “Banca Sella”. Smava also joins in on Italian p2p lending service Prestiamoci saying that Smava aims to grow to a leading European p2p lending service.
This is actually the second start Smava undertakes for European expansion. Smava Poland was merged after a rather short time in operation with another Polish service.
After this round VC Earlybird holds 54%, VC Neuhaus Partner holds 20%, Banca Sella holds 10% and the founder team holds 4% of Smava shartes.
In its press release Smava stresses its successful growth. However in the past year Smava had to deal with a significant decline in new loan volume funded per month.