Neobank FIBR launches to support European SMEs via local lenders
Digital bank FIBR has launched to give European small and medium-sized enterprises (SMEs) access to adequate funding.
Based in the Netherlands, FIBR is the new trading name of Amsterdam Trade Bank.
FIBR says its modular API Software-as-a-Service platform will allow local lenders to support small-and-medium-sized enterprises through payments, loan administration and funding services.
FIBR will also lend directly in the form of secured business loans and working capital loans as well as via local lenders throughout the Netherlands, Germany, Finland, Spain, Ireland and the UK.
During its pre-launch phase, FIBR says it lent over €20 million worth of loans to over 175 SMEs in the UK and Netherlands.
FIBR’s funds are drawn from money deposited by savers in the Netherlands and Germany and the lender intends to open for UK savers in 2022.
The firm’s CEO, Oren Bass, who has hired former Revolut, Zopa and Starling employees to develop the bank’s digital strategy, says: “Thousands of SMEs across Europe have faced intense pressure over the last 20 months and need funding to support their growth.
“On the flipside, savers want to see their money safe and to support those businesses that are the lifeblood of the community.”