Venture Capital fund Flint Capital has bought an EUR1 million minority share in Creamfinance from an Angel investor, which coupled with its original investment in the firm two years ago, makes it CreamFinance’s largest institutional investor.
According to Andrew Gershfeld, partner at Flint Capital, the Venture Capital fund decided to follow the expansion of Creamfinance as it proved to be profitable and successful.
“We are happy to double bet on the Creamfinance team that we take as one of the most efficient on this market,” says Gershield. “This deal indicates our true confidence in the company's continuous progress and belief in the expansion to the Scandinavian markets. The deal corresponds with Flint Capital strategy of accelerating our European Fintech investments.”
Matiss Ansviesulis, the CEO of Creamfinance, says: "The partnership with Flint Capital positions Creamfinance for sustained growth and continued expansion. We value relationship with Flint Capital and are thrilled to see a continuous interest in our business, which helps the company achieve its growth potential”.
Following the buyout, Gershfeld will join the Creamfinance Board of Directors.
