CapitalBox acquires Omniveta to boost SME lending in Denmark

CapitalBox, a business unit of Multitude SE, a leading European FinTech company, has announced the acquisition of Omniveta Finance, a Danish invoice purchasing company, effective from 1st March 2024. The deal will enhance CapitalBox’s alternative finance solutions for small and medium-sized enterprises (SMEs) in Denmark and other European markets.

Omniveta, founded in 2012, provides invoice purchasing services to improve the liquidity of Danish SMEs. The company collaborates with strategic suppliers to offer cash payment to them, while financing the credit period for the SME clients. This ensures smooth cash flows and reliable delivery for both parties.

CapitalBox, a specialist in alternative financing for SMEs in Europe, will integrate Omniveta’s team and brand into its Danish division. The acquisition will expand CapitalBox’s product portfolio to include invoice purchasing, as well as secured instalment loans, which the company recently launched.

The acquisition is part of Multitude’s new strategy of strengthening its position as an alternative lender alongside banks and growing its business model through organic growth, partnerships, and acquisitions. Multitude will fund the transaction from its strong earnings and high profitability.

Scott Donnelly, CEO of CapitalBox, said: “We are delighted to welcome Omniveta to the CapitalBox family. This acquisition will enable us to offer more diverse and flexible financing options to SMEs in Denmark and beyond. We share Omniveta’s vision of improving the liquidity and growth of SMEs, which are the backbone of the European economy.”

The terms of the transaction were not disclosed.

“We are delighted that Omniveta will be part of Multitude going forward. With the acquisition of Omniveta, we are not only strengthening CapitalBox’s position in the European market, we are also reaffirming our ambition to become the leading provider of non-bank loans in Europe,” said Jorma Jokela, CEO of Multitude SE.

“Omniveta is the perfect add-on to our existing product offering. By combining CapitalBox and Omniveta, we are consistently expanding our business model and our added value. We will be able to make Omniveta’s expertise available not only in the Danish market, but to all our customers across Europe,” said Lasse Mäkelä, Chief Strategy and IR Officer.

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