24 October, Yahoo Finance
Enrico Maria Fagioli Marzocchi, Illimity SME manager, commented: “We’re delighted to work with such an innovative fintech company like Credimi. Thanks to this agreement, we’ll start already operating in the factoring segment, which was planned for the first part of 2019, through the use of a state-of-the-art digital platform”.
Ignazio Rocco di Torrepadula, Credimi founder and Ceo, stated: “We’re going to close the second year of business of Credimi. It has been an extremely positive year for us, having tripled the volumes. Italian enterprises are one of the fastest ones in Europe in adopting new models, opening to new solutions and players. For this reason, we’re very happy to start the collaboration with Illimity, an innovative bank with an exciting vision, sharing with us the objective to enhance the quality and the accessibility to the financial instruments for the growth of businesses”.
Credimi is a factoring platform dedicated to European enterprises. It has a unique business model, given by the ability to assess the credit risk through a proprietary technology, in a nearly automatic way and at very low costs.
Illimity is a new bank, entirely digital, specialised in credit services to SMEs and led by Corrado Passera. The bank will be renamed Illimity after the merger of Spaxs and its subsidiary Banca Interprovinciale. Illimity operates in some specific segments which provide high yields and are little covered by the traditional operators. It provides credit to enterprises with a high potential but with a not ideal financial structure and/or with a low or no rating, including the SME and unlikely to pay segments. The bank acquires and manages through its platform corporate NPLs, both secured and unsecured. Starting from 2019, it will also offer direct e-banking services for retail and corporate customers.
Source: Yahoo Finance
Translator: Cristina Ambrosi
Portugal 
Spain 
Greece 
