Fintech Ecosystem STEP 4 Business Raises Over €8.5 Million in Seed Funding

STEP 4 Business SpA, the developer of the first fintech ecosystem designed for small and medium-sized enterprises (SMEs), has raised over €8.5 million in a seed funding round that was oversubscribed. The company also announced its international expansion strategy, with plans to launch in Spain by the end of 2021, followed by Portugal and Brazil in early 2022.

The funding round saw participation from key investors including Azimut Group, a European asset management firm, and CRIF, a company specializing in credit information systems and digital solutions. Gellify, an innovation platform, also invested.

STEP 4 Business developed its IT infrastructure in collaboration with Be Digitech Solutions. Technology partners integrated into the platform include Microsoft Azure for cloud services, Mia-Platform for scalability, and Salesforce for CRM. CRIF provides digital onboarding, business financial management advisory tools, and account aggregation services.

The existing Italian platform, Azimut Marketplace by STEP, offers services such as instant lending, invoice trading, and international payments. STEP 4 Business intends to expand its service offerings and will seek local partners to address specific needs in its new international markets.