CapitalBox has acquired Copenhagen-based Omniveta Finance’s business to improve lending liquidity for SMEs across Denmark.
Founded in 2012, Omniveta specialises in invoice purchasing. The deal compliments CapitalBox’s current alternative finance solutions offering. Through its KontantVedAccept programme, Omniveta has strengthened collaboration with strategic suppliers to achieve an improvement in liquidity for Danish SMEs.
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Suppliers receive cash payment, while the company’s SME clients keep the agreed credit period, which is financed by Omniveta. Better liquidity with suppliers secures delivery and eliminates requests for accelerated payment, ensuring healthy cash flows on both sides. Invoice approval and payment distribution happen simultaneously.
Additional strategic partnerships with firms like Dublin-based Supply Finance allowed Omniveta to access specialised financing platforms to secure the necessary capital base for growth.
Omniveta to rebrand as CapitalBox
Omniveta will rebrand as CapitalBox, and its entire team will be brought under the auspices of CapitalBox’s Danish division. CapitalBox launched initially in Denmark in 2016. According to CapitalBox, the deal will transform invoice purchasing for SMEs in Denmark and across all markets it currently serves.
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. It will 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.”
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By GlobalDataChristian 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.”
