European On-line Lender October Makes it on French Tech Subsequent40 Rating 2021 which lists Most Promising Startups and Unicorns

European on-line lender October notes that on February 8, 2020, they acquired an excellent shock once they came upon that they’d been ranked within the French Tech Subsequent40 2021 rating.

October had additionally been acknowledged for its companies in 2020, however claims it wasn’t anticipating to be on the record once more.

The Subsequent40 was launched a few years in the past. As defined by the October group, it goals to provide an summary of the 40 “most promising” and “modern” French startups with the potential to turn into tech leaders sooner or later.

To be able to make this rating, the French Tech bases its evaluation on “financial efficiency.” It is going to embrace Unicorns (unlisted companies valued at €1 billion or extra) and startups which have secured over €100 million in capital.

October confirmed that they didn’t elevate any funds final yr, nonetheless, they’ve “bolstered their assist to European SMEs because of the funds lent by their worldwide traders (+300 million euros raised) and the mobilization of personal people.”

October has “already benefited in 2020 from the assist of the Subsequent40,” the corporate acknowledged. This has enabled it to extend its “visibility and profit from facilitated dialogue with authorities companies.”

October’s administration added:

“We’re delighted to have the ability to profit as soon as once more from this assist and to deliver our communities of lenders, debtors and traders on board on this journey.”

As reported just lately, October has issued a warning concerning monetary crimes that are on the rise following the COVID outbreak together with cash mules.

Cassa Depositi e Prestiti SpA (CDP), an Italian funding financial institution based in 1850 in Turin that’s largely owned by the Italian authorities, just lately determined to spend money on digital lender October’s SME fund. In keeping with an announcement by CDP, the financial institution has dedicated €20 million to the October SME IV fund designed to assist Italian SMEs and small/mid-caps.

As coated final month, October secured €295 million in funding, as of December 2020, to finance companies, the biggest quantity it has ever raised.

In December 2020, the October group defined how institutional traders and personal lenders “lend facet by facet” on its platform.