French fintech startup Defacto has raised a $10 million Series A extension from Citi Ventures.
The Paris-based business, founded in 2021, provides short-term loans to small and medium-sized businesses.
However, through integrations with businesses like fellow fintechs Pennylane and Qonto, Defacto wants to lower the cost and administration for smaller businesses.
The new funding will go towards the continued growth of Defacto's platform as it pushes towards more personalized debt financing for small businesses.
Check out Defacto's 20-slide Series A extension pitch deck below:
Persons:
Pennylane, Morgan O'Hana, O'Hana, Northzone
Organizations:
Citi Ventures, Open Banking, Global Founders Capital
Locations:
Paris, integrations