Azimut has signed an agreement to provide up to $108 million (€100 million) to SMEs through the Italian fintech platform dedicated to loans for SMEs, BorsadelCredito.it. The platform is owned by P101 SGR, the Azimut group itself, and GC Holding, the holding company that controls the shipping company Italmondo. The loans in question will be guaranteed by the Mediocredito Centrale Guarantee Fund for 90% of the amount disbursed.
The Italian fintech sector allows the creditworthiness of companies to be analyzed through a completely digital procedure in just 48 hours, ensuring speed and distance in the financing application process.
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The partnership between the Azimut Group and Borsa del Credito
Ivan Pellegrini, CEO of Borsa del Credito, said: “We believe that the path of collaboration is the best way to really innovate the world of finance and make it more efficient and more functional to the needs, even those emerging, of the real economy. On the other hand, in order to grow, the fintech sector needs the traditional front from which it emanates. The alliance with Azimut is a solid and structural one: it is an evolution for us. We are no longer just lenders to the real economy, but technology enablers for traditional finance. We would like to see other similar agreements with banks or other intermediaries other than SGRs.”
Pietro Giuliani, Chairman of the Azimut Group, commented: “Small and medium enterprises are the most affected by the economic emergency and often have difficulty finding credit, even though they deserve it. Our commitment to bring savings closer to businesses is strengthened, in a particularly critical economic phase, by bringing innovative investment solutions with a high technological content. We want, through the development of specific skills, products and services, to use different fintech platforms dedicated to financing the real economy. This will allow us to offer our customers positive returns in the medium term also through the management of products that until now were not accessible to retail investors.”
Azimut launched a crowdfunding campaign on Mamacrowd to help companies cope with the crisis
To support companies in financial crisis due to the coronavirus pandemic, Azimut has already launched an equity crowdfunding campaign on Mamacrowd for Azimut Crescimpresa srl, an investment vehicle whose commercial brand is Azimut Sostieni Italia. It was launched to support businesses paralyzed by the coronavirus emergency with private capital.
The campaign has a minimum target of $540,000 (€500,000) and a maximum of $8.64 million (€8 million), based on a pre-money valuation of $172,000 (€160,000), and provides for a minimum investment of $1,620 (€1,500). To date, the campaign has raised $355,700 (€329,500) from 83 investors.
Borsa del Credito launched a six-month bullet loan called Cash Anti COVID-19
For its part, last March, the Borsa del Credito launched Cash Anti COVID-19: a 6-month bullet loan designed to cover the current expenses of SMEs (such as wages and salaries, rents, utilities, etc.) for the next six months. Through this product, Borsa del Credito will advance up to $540,000 (€500,000) for companies with an annual turnover greater than $10.8 million (€10 million), and up to $324,000 (€300,000) for companies below this threshold. The company will repay the advance received only after 6 months, through an additional installment loan of 12 months or more.
Borsa del Credito was founded in October 2013 by Antonio Lafiosca, Alessandro Andreozzi, and Ivan Pellegrini as a digital brokerage platform for corporate credit. In 2015 it opened its P2P lending channel. Specialized in micro and SME credit, it boasts over 25,000 corporate clients, 4,000 lenders, and more than $86.3 million (€80 million) intermediated.
Borsa del Credito is owned by the holding company Business Innovation Lab spa, which controls two other companies: Mo.Net spa, authorized to perform peer-to-peer lending services; and Art SGR spa, which manages alternative investment funds reserved for professional investors who invest on loans offered on the platform. In particular, ART SGR manages the Colombo fund, launched in October 2017 with the support of the shareholders of BorsadelCredito.it, and the Systema Credit Fund, launched in April 2019 by Confidi Systema! and Prader Bank.
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First published in BeBeez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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