Earlybird's smava.de teams up with bank

The strategic collaboration between the credit provider and Fidor Bank will cater to over 80,000 registered customers. Fidor is now accredited as new banking license partner of smava.de and ensures regulatory compliance. Together, the companies seek to drive new product development.

The collaboration was initiated by Earlybird.

Earlybird first invested €4m in smava.de in May 2007. In October 2008, Earlybird and Neuhaus Partners provided €4m of additional growth funding.

smava.de is an online credit market and alternative loan provider, based in Berlin. It has more than 20,000 investors and 7,000 borrowers. The company was launched in 2007 and has a loan book of €57m. 

Fidor Bank is a German community bank that was launched in 2010. By the end of 2010, its deposits amounted to over €85m.

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• Topics
• DACH
• Financials
• Germany