Ebury was selected as the first financial institution, that is not a bank, to distribute SME funding for the Italian government. The fintech company has experience in operating during uncertain financial times, as it was created shortly after the financial crash of 2008. The fintech company will work to distribute SME funding as part of the governments 'Italian Guarantee' mandate, which will look to provide financial assistance to companies operating with under 5,000 people.
Previously, Ebury was involved in SME funding in the UK, and also received approval from the Dutch and Spanish governments.
The Ebury CEO, Juan Lobato, spoke about collaborating with the Italian government, "We are delighted to be assisting the Italian SME community and government by helping to maximise the impact of this scheme during the coronavirus crisis. We are now assisting governments in Spain, The Netherlands and Italy in the race to provide the necessary funds to thousands of businesses stricken by the fight against the coronavirus."
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What's Driving This Trend
- Fintech SME Funding
- Fintech companies are being selected to distribute SME funding for governments, presenting opportunities for further innovation in the fintech industry.
- Government Financial Assistance
- Governments providing financial assistance to small and medium businesses presents opportunities for disruption in the financial services industry.
- Fintech Collaboration with Governments
- Collaboration between fintech companies and governments to provide financial assistance to small and medium-sized businesses presents opportunities for disruptive innovation in the fintech industry.
Who This Affects Most
- Fintech
- Fintech companies have the opportunity to collaborate with governments and distribute SME funding, allowing for disruption in the financial services industry.
- Government
- Governments have the opportunity to provide financial assistance to small and medium businesses through fintech collaborations, presenting opportunities for disruptive innovation in government financial services.
- Small and Medium-sized Enterprises
- Small and medium-sized enterprises are the beneficiaries of government financial assistance and fintech collaborations, presenting opportunities for disruptive innovation in the SME funding industry.
