Multitude SE acquires Omniveta to bolster SME lending capabilities

Multitude SE, a prominent European FinTech company, has announced its acquisition of Omniveta Finance’s business through its subsidiary CapitalBox. The deal, effective from 1st March 2024, aims to enhance liquidity for small and medium-sized enterprises (SMEs) in Denmark. While the financial terms remain confidential, this strategic move is set to expand CapitalBox's footprint in the European business lending market.

The acquisition is aligned with Multitude's growth strategy to strengthen its position as an alternative lender. This approach includes expanding through organic growth, partnerships, and further acquisitions. The inclusion of Omniveta under CapitalBox will introduce invoice purchasing into its SME lending solutions in Denmark, with plans to extend these services across other European markets.

Omniveta, established in 2012, has been instrumental in improving liquidity for Danish SMEs by facilitating better cash flows between suppliers and SME clients. Post-acquisition, Omniveta will be rebranded as CapitalBox and its team integrated into CapitalBox's Danish operations, broadening the scope and reach of their lending services.

Multitude SE's CEO, Jorma Jokela, expressed enthusiasm over the acquisition, highlighting the strategic benefits of incorporating Omniveta's expertise into their offerings across Europe. Lasse Mäkelä, Chief Strategy and IR Officer, echoed these sentiments, emphasizing the value addition and business model expansion resulting from this merger.