Flint Capital, a venture capital firm based in Barcelona, Spain, paid 1 million euros ($1.11 million) for a minority stake in Creamfinance, a consumer finance services provider based in Warsaw, Poland. Flint invested 5 million euros ($5.55 million) in the company two years ago. Andrew Gershfeld, Partner at Flint, will join the Creamfinance board.
WARSAW, Poland–(BUSINESS WIRE)–On 25th of February, an international Venture Capital fund Flint Capital, investing across United States, Israel and Europe, bought a minority share from Angel investor in Creamfinance. Flint Capital, which has invested €5 million in Creamfinance two years ago, has accomplished €1 million worth transaction making them the largest institutional investor in Creamfinance. The action has been taken to support the expansion of Creamfinance into Scandinavian market and increase the shareholding of Flint Capital.
According to Andrew Gershfeld, partner at Flint Capital, the Venture Capital fund decided to follow the expansion of Creamfinance as it proved to be profitable and successful. “We are happy to double bet on the Creamfinance team that we take as one of the most efficient on this market. This deal indicates our true confidence in the company’s continuous progress and belief in the expansion to the Scandinavian markets. The deal corresponds with Flint Capital strategy of accelerating our European Fintech investments”, Gershfeld commented.
Matiss Ansviesulis, the CEO of Creamfinance, said, “The partnership with Flint Capital positions Creamfinance for sustained growth and continued expansion. We value relationship with Flint Capital and are thrilled to see a continuous interest in our business, which helps the company achieve its growth potential”.
Following the buyout, Andrew Gershfeld will join the Creamfinance Board of Directors.
Consumer finance services provider Creamfinance was founded four years ago in Latvia and has achieved consistent growth since. The company is currently operating in six countries. Utilizing advanced algorithms and machine-learning capabilities to quickly evaluate and score, Creamfinance offers a highly customized approach to the personal loan process in a speedy and reliable manner and aims to become a one-click loans provider to consumers globally.
The company has recently been ranked as the second-fastest growing company in Europe by the prestigious Inc.5000 Europe ranking.
For additional information about Creamfinance: www.creamfinance.com
For additional information about Flint Capital: www.flintcap.com