CapitalBox, the Stockholm based alternative financing specialist for small- and medium-sized enterprises (SMEs), announced its acquisition of Copenhagen-based Omniveta Finance. 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.

In development since last year, this acquisition was spearheaded by CapitalBox Chief Strategy and Growth Officer 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.”

This article first appeared on fintechbaltic.com

Featured image credit: Edited from freepik