CapitalBox, financing specialist for small and medium-sized enterprises (SMEs) in Europe, has announced its acquisition of Copenhagen-based Omniveta Finance’s business.
Omniveta specialises in invoice purchasing, complimenting CapitalBox’s current alternative finance solutions offering. Through its KontantVedAccept program in particular, Omniveta has strengthened collaboration with strategic suppliers to improve liquidity for Danish SMEs.
Suppliers receive cash payment, while the company’s SME clients are able to keep the agreed credit period, which is financed by Omniveta. In turn, better liquidity with suppliers secures delivery and eliminates requests for accelerated payments, ensuring healthy cash flows on both sides.
Additional strategic partnerships with firms like Dublin-based Supply Finance have enabled Omniveta to access specialised financing platforms to secure the necessary capital base for growth.
Anne Trampedach, Country Manager for Denmark at CapitalBox, said: “The Danish financial landscape is predominantly bank-centric. Introducing much needed alternative financing solutions to SMEs effectively, requires strong partnerships with the best in the industry.
“Bringing Omniveta into the fold is going to enable us to not only better serve our Danish SME clients, but also greatly benefit all the other markets we operate in. As I see it, this acquisition demonstrates just how meaningfully CapitalBox has established itself within the Danish market in an incredibly short amount of time. This is a net good for us, for Omniveta, and for all the SMEs who we help grow.”
In development since last year, this acquisition was spearheaded by CapitalBox Chief Strategy and Growth Officer Nemira Palaimienė.
Omniveta will assume the name CapitalBox moving forward, and its entire team will be brought under the auspices of CapitalBox’s Danish division and Denmark Country Manager Anne Trampedach, who has led the division since CapitalBox’s 2016 entry into the Danish market.
Christian Hierwagen, CEO of Omniveta, added: “We are thrilled to join CapitalBox’s race to the fintech top here in Denmark. Our combined decades of experience in delivering transparent and efficient financial services for SMEs is going to open up a well of opportunities.”
