BillFront announces new cooperation with Raisin Bank and expands into new digital economy verticals

Berlin / Frankfurt / London, September 28, 2020 - BillFront and Raisin Bank have agreed on a new credit cooperation for the financing of innovative business models in the technology and media sector.

Concurrently, BillFront is broadening its vertical industry focus, which until now was the AdTech industry, to the digital economy more broadly. This includes all companies that sell their products or services digitally, from e-commerce shops to software and media companies.

The new partnership with the credit and fintech expert Raisin Bank AG enables BillFront to provide credit facilities to German corporates for working capital and growth financing.

Raisin Bank AG replaces Solarisbank AG, BillFront's previous partner for Credit-Fronting in Germany.

Every year, BillFront arranges around 100 million euros in receivables-backed loans to companies from the technology and media industry in Germany and abroad. The new partnership with Raisin Bank AG will enable BillFront to expand into additional verticals within the Digital Economy.

Its clients benefit from BillFront's industry knowledge and technology-based Fintech Lending Platform, as well as Raisin Bank's years of experience working with numerous Fintechs at home and abroad.

BillFront’s financing product clearly stands out from other solutions available on the market as it offers many advantages:

  • Financing of innovative business models without requiring the issuance of equity or personal guarantees
  • Swift completion of financing process (usually within two weeks of submitting the application), for sums of up to 10 million euros
  • Lending against global receivables is possible

BillFront founder and CEO Greg Dimitriou emphasizes: “After five years of successfully focusing on companies in the AdTech sector, the time has come to open up our service to the digital economy more broadly, i.e. to companies that have innovative and digital business models. In this industry, there are specific strategic and financing requirements that are being insufficiently addressed by traditional finance providers, lending platforms or factoring providers. For this expansion of our target group we have found the right partner in Raisin Bank AG."

Andreas Wolf, Chief Commercial Officer of Raisin Bank AG, adds: “We are delighted to work with our new partner BillFront. There is increasing credit demand for growth financing by Technology Companies in Germany and Europe. The BillFront Group, which we are happy to support with our credit and regulatory expertise, is therefore addressing a real need in the market."

About BillFront

BillFront was founded in 2015 by Greg Dimitriou and finleap GmbH, Europe's leading fintech ecosystem. The FinTech is focused on providing innovative, tailor made financing solutions to the “digital economy”. BillFront GmbH is headquartered in Berlin, with branches in London and New York.

About Raisin Bank AG

Raisin Bank AG supports Europe's fast growing fintech community with a wide range of innovative, tailor-made and reliable services. Since it was founded in 1973, the Frankfurt based Bank has focused on serving business customers. It offers competent advice and efficient solutions, particularly for processing loan portfolios. As a fronting and service bank with a full banking license, Raisin Bank supports the implementation of fintech business models that require a banking license (such as Weltsparen, BillFront and Exporo), family offices and funds in the areas of Credit, Deposits, Accounts and Payment transactions. Since April 2019 Raisin Bank, formerly MHB-Bank, is a fully owned subsidiary of Raisin GmbH and operates under this Name since August 2019.

September 2020