Finmid Secures €17 Million to Expand Vehicle and Merchant Lending Services

Merchants Get a Boost: Skroutz Lending Initiative

Finmid, a Berlin‑based embedded lending platform that integrates financing into e‑commerce and gig‑economy apps, announced a €17 million capital raise on Tuesday. The funds will support a new vehicle‑financing partnership with ride‑hailing giant Bolt and a merchant‑lending program with Greek online marketplace Skroutz.

The funding round was led by Big Pi Ventures, with co‑investment from Mainset and participation from existing investor Earl Capital. The capital injection follows a Series A extension and positions Finmid to deepen its presence in the European fintech landscape. The company has already powered credit solutions for platforms such as Wolt and Delivery Hero, helping merchants and drivers access working capital without traditional bank involvement.

Finmid’s collaboration with Bolt aims to provide drivers with flexible vehicle‑financing options. By embedding credit offers directly into the Bolt app, drivers can apply for loans to purchase or lease cars, trucks, or scooters. The partnership is designed to streamline the approval process, leveraging Finmid’s data‑driven underwriting to offer competitive rates and tailored repayment plans. Finmid’s technology will also enable real‑time monitoring of vehicle usage, allowing for dynamic risk assessment and early intervention if drivers fall behind on payments.

How the Capital Is Being Used

„This partnership marks a significant step toward empowering gig‑economy workers,” said Finmid CEO. „By making vehicle financing accessible within the Bolt ecosystem, we help drivers reduce upfront costs and grow their businesses.”

In parallel, Finmid is launching a merchant‑lending program with Skroutz, Greece’s largest online marketplace. The initiative will provide sellers on Skroutz with short‑term working capital to expand inventory, manage seasonal demand, or launch marketing campaigns. Finmid’s underwriting model uses transaction data from Skroutz’s platform to assess creditworthiness, offering rapid approvals and flexible repayment schedules. The program is expected to accelerate growth for small and medium‑sized businesses that often face cash‑flow constraints.

„Finmid’s data‑centric approach is a game‑changer for merchants,” said Skroutz’s CFO. „It allows us to offer credit in a way that aligns with each seller’s sales patterns, reducing risk for both parties.”

What Does This Mean for the Fintech Ecosystem?

The €17 million will be allocated across product development, regulatory compliance, and market expansion. Finmid plans to enhance its AI‑powered risk engine, integrate new payment gateways, and hire additional data scientists and compliance officers. The firm also intends to enter two new European markets by the end of the year, targeting countries with high gig‑economy participation.

The infusion of capital underscores the growing demand for embedded finance solutions that cater to non‑bank customers. Finmid’s model demonstrates how fintech firms can partner with established platforms to deliver credit services without the overhead of traditional banking licenses. As more platforms seek to offer financial products, embedded lending is poised to become a standard feature in the digital economy.

Finmid’s expansion into vehicle financing and merchant lending signals a broader shift toward inclusive credit. By leveraging platform data, the company can offer customized terms that match the unique cash‑flow profiles of gig workers and small businesses. The move also positions Finmid as a key player in the European fintech arena, potentially attracting further investment and partnerships.

Frequently Asked Questions

Why is Finmid focusing on vehicle financing now? Vehicle ownership is a critical barrier for gig‑economy workers. By providing on‑app financing, Finmid helps drivers acquire necessary vehicles, boosting their earning potential and platform loyalty.

How does Finmid assess risk for merchant lending? The firm uses transaction data from partner platforms to model sales trends, cash‑flow stability, and repayment likelihood, enabling rapid, data‑driven credit decisions.

What markets will Finmid enter next? Finmid plans to expand into two additional European countries by year‑end, targeting regions with high platform usage and limited traditional banking penetration.