💳 Backing Silvr Again
Overlooked #100
Hi, it’s Alexandre from Eurazeo (ex. Idinvest). I’m investing in seed & series A consumer and consumer enablers startups all over Europe. Overlooked is a weekly newsletter about venture capital and underrated consumer trends. Today, I’m thrilled to share that our portfolio company Silvr has raised a €130m series A.
We're delighted to share that our portfolio company Silvr is raising a €130m Series A (€18m in equity & €112m in debt) with Xange, Otium and BPI France to pursue its mission to become the European leader in revenue based financing!
High-profile entrepreneurs including Alexandre Prot and Steve Anavi (co-founders of Qonto), Raphaël Vullierme (co-founder of Luko), Louis Chatriot (co-founder of Alma) and Pierre Dutaret (co-founder of Libeo) are also participating in the round.
Silvr is contributing in building a modern financial ecosystem. Digital businesses struggle to get financing from traditional banks which don't understand their business (e.g. most of them don't have tangible assets that can be used as collateral by banks) and have extremely long processes to grant funding. Silvr is building an horizontal tech platform to provide financing to all tech business models (SaaS, CSS, e-commerce) in less than 24 hours.
We've been working with Nima, Greg and the whole Silvr's team for more than a year and we're super impressed by how fast they've been executing on all fronts. When we backed the company at seed stage, the team was only composed of the two founders who had managed to launch a MVP on ecommerce with a dozens merchants. Fast forward to today, Silvr has:
Built a strong team of 25 people attracting rockstars like Pierre (ex. Stripe) as head of sales and Benjamin (ex. UBP) as head of capital.
Shipped a scoring model leveraging tools used by Silvr's customers to monitor their business (e.g. Google Analytics, Chartmogul, Stripe, Shopify, etc.) and their banking data (via PSD2-based API connections) to evaluate their past performance and forecast their future credit worthiness.
Launched a SaaS offering in September to turn monthly recurring revenues into upfront and immediate cashflow.
Funded 200 loans (€320k on average in ecommerce and €480k on average in SaaS) and 100+ companies (e.g. Pixpay, Cuure, Poiscaille, Lovys or Partoo) with a direct business impact on their customers as ecommerce merchants (64% average revenue growth 2 months after funding) and SaaS businesses (reinvesting the cash into product, sales & marketing) can accelerate their growth.
Silvr will use the funding to recruit 100 top talents across all functions (sales, marketing, tech, product), to expand into other European countries and to strengthen its tech platform!
If you're looking for a new challenge in your career, you should definitely check their job offers on Welcome to the Jungle! If you're interested and want to know more about the company, please do send me an email at adewez@eurazeo.com!
Thanks to Julia for the feedback! 🦒 Thanks for reading! See you next week for another issue! 👋