The fintech firm Sardex, the circuit that enables corporations and related professionals to exchange items and providers with one another on a credit score foundation, collected a spherical of $6.7 million (€5.eight million).
The spherical was led by CDP Enterprise Capital SGR (via its fund Italia Enterprise I, already a shareholder of the corporate since 2016) with Fondazione Sardegna, Primomiglio SGR. Innogest and Good Group additionally participated within the capital enhance. The funding was introduced by CDP Enterprise Capital final June when it offered its 2020-2022 marketing strategy and its 7 funds.
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Sardex goals to additional increase and attain new territories
With this funding, Sardex will be capable to speed up development all through Italy and attain new territories. The operation goes hand in hand with the strengthening of the administration crew, with the inclusion since final January of the brand new CEO Marco De Guzzis.
Sardex is the primary industrial credit score circuit in Italy, created in 2010 in Sardinia, and has change into a model for different circuits lively in different Italian areas. It was based in 2009 by Carlo Mancosu, Gabriele and Giuseppe Littera, and Franco Contu. In 2011, Piero Sanna joined the corporate and accomplished the group of founders.
Having began out in Sardinia, Sardex now consists of Industrial Credit score Circuits working within the different 12 Italian areas (Valle d’Aosta, Piedmont, Liguria, Emilia-Romagna, Lombardy, Veneto, Marche, Umbria, Lazio, Abruzzo, Molise-Sannio and Campania). Because it started operations in 2010, Sardex had moved sources of $464 million (€400 million) in Sardinia alone and $116 million (€100 million) within the different circuits by September 2019. All this for over a million operations carried out by 10 thousand corporations, four thousand of them in Sardinia.
Sardex has a subscription base of greater than 6,000 subscribers in fixed development (+53% since January) and has proven resilience even after the COVID-19 emergency (+88% since April 2020 by way of new subscribers and +38% in turnover).
Enrico Resmini, CEO and Basic Supervisor of CDP Enterprise Capital sgr, through the summer season version of SIOS 2020, commented: “This operation is part of the plan to relaunch the entire Italian entrepreneurial ecosystem, which is one of our priority objectives. The support to a company founded in Sardinia 10 years ago, which today is ready to accelerate its expansion throughout the country, is a concrete sign that venture capital is able to support and allow the economic development and innovation of resilient and visionary realities in our country.”
Previous accomplishments of Sardex
On the finish of 2011, the Luxembourg funding fund Digital Investments entered the capital of Sardex. In April 2016 Sardex acquired a $3.48 million (€Three million) spherical led by Innogest, supported by Invitalia Ventures and Banca Sella Holding, wherein Fondazione di Sardegna, Good Group and Stefano Meloni’s Melpart additionally participated.
In 2019, the instrument of complementary foreign money, initially designed for professionals, companies, and the workforce, additionally turned the heritage of personal residents because of Sardex Bisoo. This system permits residents to earn credit for a euro expense. Whoever buys or service in euro from one of many many actions taking part within the initiative will get a top-up in credit in response to a set share. In October 2019, Sardex bought 63% of the Venetex industrial credit score circuit from the funding holding firm VeNetWork.
(Featured picture by milesz through Pixabay)
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