Mars Growth, a Liquidity Group and MUFG joint venture fund, provided a $4.5 million credit facility to Kontist, a financial technology company providing banking and bookkeeping services to the self-employed and freelancers in Germany. Kontist will use the additional capital to further its expansion.
For this deal, Mars Growth utilized the ‘Liquidity Analysis’ corporate credit machine learning platform to perform due diligence instantly and to provide a term sheet in 24 hours.
“Kontist is a fintech company providing banking services at the forefront of the new economy,” Yaron Primovich, managing director of Mars Growth, said. “Its banking services are being utilized across Germany by the growing number of self-employed people. Our ‘Liquidity Analysis’ platform at the center of our funding process gave Kontist access to non-dilutive funding at an unmatched speed. We are delighted to add Kontist to our portfolio of high-potential companies and to help fulfill their ambitions and growth plans.”
“The Mars team has not only provided funding to enable further growth but validated our plans and ambitions through their ‘Liquidity Analysis’ platform,” Benjamin Esser, CEO of Kontist, said. “To have a funding partner benchmark your growth plans against our industry and competitors strengthens our ambition to achieve our goals. From the initial discussion, the entire process was effortless and took only a few days before they presented us with a term sheet. We found the financing solution a great way to assist us in fueling our growth as we expand.”
The transaction brings Liquidity Group’s deployment to companies to more than $750 million, with the group targeting $1 billion by the end of 2021.