October Provided SMEs with €1 Billion in Crowd-Investing

October, a European fintech company specializing in business lending, announces that it has reached the milestone of €1 billion in funding provided to businesses in Italy, France, Spain, the Netherlands, and Germany.

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October’s results

The financed businesses collectively represent a total turnover of €25 billion and employ more than 90,000 people across Europe.

Thanks to technology and a data-driven approach, October has been able to target more than 60 percent of its funding to micro and small businesses with fewer than 50 employees. More specifically, the average is 13 employees and the average turnover is €2.3 million.

As for Italy, since it has been present in our country, October has enabled more than 1100 Italian companies active in the most diverse economic sectors to access alternative forms of credit to traditional channels.

Sergio Zocchi, CEO of October Italia: “The results achieved once again highlight the solidity and effectiveness of October’s business model, which continues to support SMEs in a concrete way by providing the necessary capital for their growth path. A path made possible by technological innovation, investor confidence, and synergy with the different players with whom we collaborate and interact every day in order to make services more efficient and accessible for customers seeking credit.”

ESG goals

In line with its commitment to inclusiveness and sustainability, October takes a holistic approach to financing.

The platform incorporates environmental, social, and governance (ESG) criteria into its investment decisions, enabling it to classify its funds as SFDR Article 8 compliant.

In addition, October provides companies with an ESG score, empowering them to improve their sustainability practices and create a positive impact on the environment and society.

About October

Founded in 2014 in France, October began operations in 2017 in Italy supporting the growth of thousands of businesses in a simple and sustainable way.

This was made possible by the trust of more than 43,000 private lenders and major institutional investors such as EIF, CDP, Invest NL, BpiFrance, Generali, and Allianz, who believed in October’s technology.

October’s shareholders include Allianz, CNP Assurances, CIR Group, Decaux Frères Investissement, Eurazeo, Partech, Bank Wormser Frères, Matmut, and Tikehau Capital.

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(Featured image by geralt via Pixabay)

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