Paris-based business financing platform Karmen has raised an additional €50 million in debt financing from London-based alternative asset management company Fasanara Capital.
Karmen first raised €22 million comprising €3 million in equity and €19 million in debt financing in a seed round led by Fasanara in January 2022, allowing the company to increase its headcount to 20.
Founded in 2021, Karmen started by offering non-dilutive, revenue-based financing to recurring revenue companies and has now extended its scope to include digital SMEs in France.
The platform allows companies to share data from their billing, accounting and banking services to assess their credit risk and eligibility for financing in less than 48 hours.
Karmen, which provides financing between €10,000 to €5 million, says that it has funded some 60 companies in the past year and that the new credit line gives it an annual deployment capacity of €150 million.
“We are proud to support Karmen, our first investment in France, in their mission to democratise access to instant capital for French SMEs,”
said Daniele Guerini, Partner at Fasanara Capital.
“The need for digital SMBs to access instant, fair, and digital credit solution has never been so strong. I’m beyond proud of what the Karmen team has achieved in only 10 short months,”
said Gabriel Thierry, CEO and Co-Founder of Karmen.
