On June 12, 2024, Banca AideXa, a fintech institution focused on facilitating credit for micro and small enterprises, declared a significant capital increase of €16 million. This announcement marks the fourth capital raise since the bank’s establishment and elevates the total capital to €96 million, a testament to the confidence investors have in its mission to innovate credit solutions through technology and artificial intelligence.
Four years have passed since AideXa's landmark first funding round of €48 million, which stands as the largest financing secured by an Italian fintech startup. Under the new leadership of CEO Marzio Pividori, who took the reins in January 2024, Banca AideXa has seen remarkable growth and an expanded investor base.
A notable highlight of this funding round is the entry of ConfCommercio, represented through its subsidiary, Axiter. "This significant entry represents further recognition of AideXa's innovative vision and its ability to effectively support Italian small businesses," said Pividori, reflecting on the new partnership.
The capital increase not only underscores the robust position of Banca AideXa but also promises to enhance its operational capabilities. By the end of the first quarter of 2024, the bank reported assets exceeding €600 million alongside a CET1 ratio of 17.5%. Post-capital infusion, projections suggest the CET1 ratio could rise to an impressive 26%.
Remarkably, while the overall context for credit access saw a 25% drop in new disbursements to SMEs during the first quarter of 2024, Banca AideXa defied the trend and reported a 25% growth in its own disbursements. This performance showcases the effectiveness of its business model amid economic challenges. As highlighted by Roberto Nicastro, Chairman and Co-Founder of Banca AideXa, "We are proud of the support and trust from our investors and partners in contributing to the industrialization of credit for Italian micro and small enterprises."
The capital raise is poised to help Banca AideXa achieve ambitious targets set for 2024, including a credit stock of €700 million, revenue of €30 million, and plans to reach break-even by the end of the year.
Giovanni Da Pozzo, Vice President of Confcommercio Enterprises for Italy, expressed a positive outlook on the collaboration, saying, "We are pleased to invest in Banca AideXa. Through the investments of Axiter and Finpromoter, following that of SEAC, the ConfCommercio system aims to develop a strategic relationship with Banca AideXa to deploy innovative tools for credit access by micro and small enterprises."
With this latest capital increase and a growing network of partnerships, AideXa is strategically positioned to continue its mission to support Italian small businesses with innovative financing solutions. While the broader credit landscape may be experiencing downturns, Banca AideXa stands out, poised for future growth and a reinforced role in the fintech sector.