Banco Sabadell, a Barcelona-based bank, has entered into a partnership agreement with Nemuru – a Fintech that aims to make it easier for professionals in the renovation sector to offer their customers instant loans at the point of sale. Banco Sabadell reports that the system is already in place and the first transactions have started.
Banco Sabadell specifies that SMEs in the renovation sector can benefit from tailor-made financing at the point of sale and in just three minutes via a mobile phone. Users can improve their access to finance and service professionals have a digital tool to generate instant loans to acquire new business.
Joaquin Subira, Deputy Managing Director of Sabadell Consumer Finance, says:
“The collaboration of banks and [Fintech] startups is essential in the path of innovation and open banking, as well as to broaden the dissemination of the financial offer. Thanks to our technology implementation with Nemuru, we are even better prepared to offer products on third-party platforms, thus providing wider and better customer access.
Pere MonrÃ s, CEO and co-founder of Nemuru, states that personalized loans can be provided immediately:
âHaving Sabadell Consumer Finance is a catalyst that will allow us to increase the scalability of the business and grow exponentially, as well as build the confidence of our customers. “
Nemuru acts as an intermediary that provides instant and flexible financing options to their customers at the point of sale, helping them grow their business through the ability to close more quotes and a higher average amount, and at no cost. operational for them, as it is managed directly with the client and the bank. In addition, the platform would digitally replicate the usual service progress certification process, reducing the operational burden for the renovator, who does not have to follow up with their customers and easily receives payment.
Nemuru was founded in 2018 and currently boasts more than 350 professionals registered on the platform. Fintech has crossed the million euros mark managed monthly to renovate housing. Personal loans managed by the startup range from â¬ 1,000 to â¬ 20,000, repayable up to 36 months.