CapitalBox acquires Omniveta’s business to boost liquidity for SMEs
CapitalBox, the alternative financing specialist for small- and medium-sized enterprises (SMEs) in Europe, proudly announces its acquisition of Copenhagen-based Omniveta Finance’s business today. Omniveta is an invoice purchasing company dedicated to improving lending liquidity for SMEs across Denmark.
Founded in 2012, Omniveta specialises in invoice purchasing, complimenting CapitalBox’s current alternative finance solutions offering. Through its KontantVedAccept™ program in particular, Omniveta has been able to strengthen collaboration with strategic suppliers to achieve an immediate improvement in 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 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 specialized financing platforms to secure the necessary capital base for growth.
In development since last year, this acquisition was spearheaded by CapitalBox chief strategy and growtofficer 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. This acquisition will transform invoice purchasing not only for SMEs in Denmark but across all the markets CapitalBox 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, 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.”
Christian Hierwagen, CEO of Omniveta, says: “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.”
