Phenomen leads $16m round for Smava

The investment will allow the company to invest in product development, with a particular focus on credit-scoring technology, as well as to expand its team.

Russia-based Phenomen is an active player in the German market. In 2014 it took part in a $20m round for Foodpanda, a $50m series-D round for HelloFresh and a €13.5m series-A for Helpling.

Existing backers Earlybird Venture Capital and Neuhaus Partners also took part in the latest round for Smava. Earlybird first invested in the company in May 2007 and was joined by Neuhaus in a €4m round the following year. 

Company
Headquartered in Berlin, Smava is a peer-to-peer lending platform. The business has a headcount of around 80 and has processed $600m of loans in the past three years.

People
Igal Weinstein, a general partner at Phenomen Ventures, will take a seat on the board at Smava. Christian Nagel is a partner at Earlybird. Alexander Artopé is CEO of Smava.

Advisers
Company – GP Bullhound (Corporate finance).

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• Topics
• Expansion
• Financials
• DACH
• Germany