Banca AideXa

Italian Banca AideXa focuses on providing credit-related products to SMEs under its own banking license solely via a web portal. The company uses AI and open banking technologies to analyze applications by directly analyzing current account data of loan applicants, without requiring documentation from applicants.

The company offers instant loans within the range of EUR 10,000 to EUR 300,000 at fixed interest rates payable across 12 monthly installments for companies that generate revenues in the range of EUR 100,000 and EUR 10 million and have been established for at least two years. Unlike traditional credit products, the company does not impose personal guarantee requirements.

The company states that loan applications can be completed within 10 minutes and that approved loans are provided to customers within 48 hours. As of July 2021, the company claimed that it financed around 100 businesses on a monthly basis.

Key customers and partnerships

The company served more than 10,000 customers as of September 2023.

Funding and financials

In November 2020, the company raised EUR 45 million (approximately USD 55 million) in seed funding backed by several investors which include Generali Group, Banca Sella, and IFIS. The funding will be used to expand the company’s operations and increase the size of its workforce. In May 2023, the company raised USD 20 million in venture funding.

As of December 2021, the company had distributed over EUR 80 million in loans and held EUR 60 million in deposits.