France-based fintech Silvr has announced preparations to enter the German market.
France-based fintech Silvr has announced preparations to enter the German market.
Silvr uses AI-supported analytics to predict the future business development of companies. By offering European entrepreneurs an “as-a-service” financing model, Revenue Based Financing (RBF), Silvr allows companies to finance themselves quickly. These companies can retain 100% of their capital and get paid back according to their turnover to meet their need for flexibility.
Cooperation with DFKP
To this end, ING Germany will cooperate with financier DFKP, an intermediary for corporate financing in Germany. The goal is to make it easier and more accessible for digital companies to raise capital in the future. This is particularly important for SMEs, as cash flow optimization is of great importance to these companies.
As a DFKP representative explains, Silvr will receive pre-screened financing requests from DFKP’s corporate financing platform, and in return they will expand their service offering to include a financing solution specialized for growth companies. This is Silvr’s first step in Germany to establish itself in the local market in the long term.
DFKP’s offer
The concept of DFKP is based on technology-based advice and on the DFKP financial engine, which covers the further process up to data transfer to potential lenders. The engine includes elements designed to make the financing process scalable, including a lending database, rating and interest rate monitoring, account and balance analysis, document management and automated data transfer via API. For the loan application, a credit potential analysis is carried out on the basis of current profit and loss accounts and balance sheet figures. The result shows the possible credit volume as well as alternative financing options.
DFKP collaborates with ING Germany
Recently, DFKP connected ING Germany, its first major bank, to its proprietary banking API. The aim is for the bank to receive pre-checked inquiries from DFKP financing advice directly in its credit analysis within a few seconds. This collaboration is also new for ING Germany, as it has not yet had an API link to an independent financing platform.
