Give it access Greek fintech company Wemetrixwhich is actively involved in the processing of accounting data and the assessment of credit risk for businesses and consumers, acquires Italian group Cervedspecializing in the purchase and management of red loans, providing business information and certified valuations throughout Europe.

So far, Wemetrix has evolved in the financial technology (fintech) industry by providing software solutions for credit scoring (customer value management and financial/accounting compliance). After collaborating with an Italian group, it is expanding its range of services in the areas of certified credit ratings (ratings) and sophisticated business information services to, as the company notes in its announcement, “respond to the ever-growing demand of the Greek market for custom arrangements, mainly the energy market, as well as in general in business-to-business (B2B) and business-to-consumer (B2C) transactions. The company has developed and is already offering a cardless or loanless credit sales solution (Buy Now, Pay Later) to an ever-increasing number of merchants who have already accepted this type of purchase and payment method, as well as industry credit. risk management solutions, for example in the energy sector (energy credit bureau).

The participation of the Italian group in the Greek fintech company is 40%, while the remaining 60% is controlled by Wemetrix managing director Panos Michalopoulos, who is one of the founders and shareholders of the company. It is recalled that Wemetrix was 60% owned by Intrasoft, which transferred its share. The Italian group’s investment in Wemetrix and the resulting synergies, as emphasized by Panos Michalopoulos, “will bring significant benefits to the entire business community”, while on the Cerved side, CEO Andrea Mignanelli points out in a statement to the strategic role of Greece for the development of the group, noting that “investing in a fast-growing company will make a significant contribution to the development of Cerved’s services so that Greek enterprises have at their disposal solutions with increased added value.”

The Italian group Cerved has developed its presence in Greece through Cerved Properties, an evolution of Eurobank Property Services, which the Italian group acquired in 2019 to provide specialized property management solutions. The group is currently 100% owned by ION Group, which has expressed interest in acquiring the 27% stake in Piraeus Bank held by the Financial Stability Fund.

Cerved Group is the largest information provider in Italy and one of the largest credit rating agencies in Europe, and through its subsidiary Cerved Credit Management is also one of the leading independent providers of credit rating and risk management solutions. Cerved owns 100% of the equity capital of C Rating Agency, an Italian rating agency specializing in assessing the creditworthiness of non-financial companies, and is registered as a European rating agency.