With this finance, the company has raised a total of €96 million. It has also expanded its investor base to include ConfCommercio, the largest business organization in Italy.

According to Banca AideXa, the additional funding will help the company meet its goals for the upcoming year, which include breaking even, acquiring credit stock valued at €700 million, and bringing in €30 million.

Banca AideXa, a 2020 startup with its headquarters located in Milan, uses open banking and artificial intelligence (AI) to provide financing and foster the growth of micro and small enterprises.

The company's recent success has led to the new capital boost, which comes four years after it obtained the "largest financing ever made for an Italian fintech start-up" of €48 million. Despite the "credit crunch," Banca AideXa reports that its disbursements increased by 25% in the first quarter of 2024.

Giovanni Da Pozzo, VP of Confcommercio Imprese for Italy, states in a translated article about the investment that the company hopes to “develop a strategic relationship with Banca AideXa” in order to deploy new solutions that would improve the micro and small enterprises in the nation's ability to obtain financing.