French fintech startup Silvr works with the mission to help entrepreneurs succeed. To support this mission, the company has created the most founder-friendly financing solution.
Now, Silvr just completed its Series A funding round by raising €130 million. This includes €18 million in equity financing and €112 million in debt led by XAnge, Otium, Bpifrance, Eurazeo, ISAI and business angels, including Alexandre Prot and Steve Anavi (co-founders of Qonto), Raphaël Vullierme (co-founder of Luko), Louis Chatriot (co-founder of Alma) and Pierre Dutaret (co-founder of Libeo).
This is the largest fundraising operation in the Revenue Based Financing (RBF) sector in Europe. With this, Silvr becomes the European Operating System for financing digital companies. Also, it is hiring as many as 100 employees this year to support its growth and develop its financing platform.
“We are proud to announce this new fundraise, which is a great sign of confidence in the Silvr model. This reinforces our vision and ambition: to contribute to the growth of the digital economy in Europe thanks to our unique financing platform,” said Nima Karimi.
Cyril Bertrand, Managing Partner at XAnge said: “In our view, Silvr is clearly the leader in France and we are delighted to accompany Nima’s team to other European countries”.
Jérémie Bordier, Venture Partner at Otium Capital said: “Silvr fills a real gap in the financing chain. In our business, we see everyday beautiful companies that the banks do not know how to finance and that unfortunately do not always fit our criteria. We are very proud to support Nima, Gregory and the entire Silvr team in this mission to make financing more accessible.”
Tuan Tran, Senior Investment Director and Quentin Mayolle, Investment Officer at Bpifrance’s Digital Venture division added: “We are therefore delighted to support the European leader in its sector in this new stage of its development and consider strong synergies between our businesses.”
Offers new form of financing
Silvr was founded by serial entrepreneurs – Nima Karimi and Grégory Tappero in 2020. It lets companies access a new form of financing and has financed a dozen companies in equity for a million euros. In 2021, the company bagged €3 million seed capital and has recruited nearly twenty employees. Also, it financed over 100 companies, Pixpay, Cuure, Poiscaille, French Bandit, Almé Paris and Emma&Chloé.
Revenue Based Financing is the “next big thing” in the fintech sector. It is an innovative financing model, which enables companies to finance their growth while preserving their capital.
Some of the competitors in the capital-as-a-service sector in Europe include Karmen and Uncapped offering similar products.
“I founded Silvr to democratise RBF in Europe, promote fairer access to capital and allow tens of thousands of entrepreneurs who create tomorrow’s services to unlock their growth potential”, says Nima Karimi, CEO and co-founder of Silvr.
Helps founders access funds
With its founder-friendly financing solution, Silvr’s mission helps entrepreneurs succeed and access funds easily to accelerate the growth of their business, without having to pay onerous counterparties. The Silvr platform allows it to adapt to all digital business models: SaaS, subscription model, e-commerce, mobile apps, etc.
Financing offers are calculated using a model developed by the startup to assess the performance of companies and their growth potential by analysing thousands of complex data. These include single visitors, turnover, average basket, return on ad spent of paid media campaigns, attrition rates, etc. and industry-specific data as well.
With this system, Silvr can forecast the company’s future revenues and provide the necessary financing within 24 hours. And unlike traditional banks, Silvr can finance riskier businesses that do not have assets.
When a business applies to access credit from Silvr, it gets access to various data sources, including the corporate bank account, Google Analytics, a platform for payments such as Stripe, an e-commerce platform such as Shopify, etc.
Silvr offers different ways to receive money, including traditional wire transfers, virtual cards or direct payments. In terms of repayments, clients can pay back using a traditional monthly plan or allocate a portion of their revenue to repayments.