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Banco Sabadell's InnoCells invests in point-of-sale credit startup Nemuru

Banco Sabadell's InnoCells invests in point-of-sale credit startup Nemuru

Nemuru, a fintech platform that allows for the generation of personalised consumer loans of up to €30,000 at the point of sale, has raised €2.6 million in a funding round led by Banco Sabadell's InnoCells and Bankia Fintech Venture

Nemuru acts as an intermediary that enables service sales professionals in the renovations sector to offer instant and flexible financing options to their customers at the point of sale.

Founded in 2018, Nemuru formally launched in January 2019, during which time it has surpassed the one million euros barrier managed monthly to renovate homes. The personal loans managed by the startup range from €1,000 to €20,000 to be repaid up to 36 months.

Banco Sabadell concluded an agreement with Nemuru in November last year to offer its platform to SME clients, promising tailor-made financing at the point of sale and in just three minutes via a mobile phone.

Pol Navarro, Managing Director of InnoCells, states: “Our commitment to Nemuru’s technology platform reinforces Banco Sabadell’s commitment to offering the best customer experience at the point of sale, in multiple activity sectors”.

The startup says the Pre-Series A round will be put to use to scale its business in Spain and expand to other EU countries.

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