What happened: German embedded lending provider Finmid announced that it had added eight new countries to its supported country list, bringing the total to twenty (Yahoo Finance). With the launch in Austria, Cyprus, Czechia, Greece, Italy, Latvia, Lithuania, and Slovenia, the company focused on closing the gap in Eastern and Southern Europe and now covering most of Europe. The one missing country that stands out is France, apparently a tougher nut to crack.
My comment: Finmid enables fintech companies and non-financial brands to offer financing products to their SME customers. Its most well-known partner is the food delivery platform Wolt, which allows thousands of restaurants to apply for financing directly through Wolt. However, the company also works with various B2B niche marketplaces and software providers for the travel industry.
While some infrastructure providers can expand “rather easily” from one EU market to another (e.g., banking-as-a-service in some cases), lending tends to be more challenging, as local regulations matter a lot. This probably also explains why Finmid is covering Cyprus but not France. That being said, covering twenty countries is pretty impressive, but I would also like to know the revenue breakdown for each country in 12-24 months.
