As an expert in embedded lending, Banxware enables platforms and payment providers to offer their customers simple and transparent online financing in real time. Founded in 2020, the Berlin-based startup thus offers fair and revenue-based business financing for small and medium-sized enterprises (SMEs), focusing on the SME’s actual performance and its future potential.
To support the respective company with the right financing decision, Banxware accesses sales data from digital platforms and payment providers on which the respective SME is active. The direct insight into the sales history enables quick evaluation and financing decisions.
The financing application at Banxware can be created within just 15 minutes thanks to a fully digital application process. After the application has been reviewed, the financing amount is usually available to the companies within 24 hours.
To support this digital application process with a secure and user-friendly identification solution, Banxware has chosen to work with IDnow. The Munich-based company’s easily scalable platform offers a broad portfolio of identity verification solutions, ranging from automated to human-assisted, from purely online to point-of-sale, each optimized for user conversion rates and security. IDnow VideoIdent and IDnow eID, which Banxware has chosen as identity proofing solutions, serve as valuable support for the Berlin-based startup’s growth and internationalization strategy.
Miriam Wohlfarth, Founder & Co-CEO of Banxware, confirms this: “In IDnow, we have found a future-proof partner to help us take our KYC processes to the next level. Especially in view of our upcoming internationalization, it was important for us to set up our verification even stronger.”
