finmid, a Berlin-headquartered embedded lending firm that powers financing for platforms including Wolt and Delivery Hero, has secured €17m in fresh capital as it rolls out a vehicle financing scheme with Bolt and a merchant lending offering with Skroutz.

Big Pi Ventures led the Series A extension, with Mainset co-investing and existing backer Earlybird also taking part. The latest injection lifts the amount finmid has raised to date to €52m.

The company plans to channel the money into growing its asset-finance offering, its infrastructure for drawing on multiple funding sources and its underwriting capabilities. It will also back a push into new types of platforms, with mobility and e-commerce among the target categories.

The first of the two launches, Bolt Vehicle Solutions, sees the ride-hailing company team up with finmid to give fleet operators access to vehicle financing built around their needs. According to the announcement, the European ride-hailing market is expected to be worth €157bn by 2034. However, operators supplying vehicles to meet this demand often struggle to secure funding, as conventional lenders have limited insight into how fleet businesses actually perform, while carmakers’ standard finance packages are not suited to vehicles that are driven intensively for commercial purposes.

Under the new scheme, operators can browse vehicles on the Bolt platform before being passed to finmid to compare financing options and submit an application. Repayments are set at a fixed monthly amount, and the operator takes ownership of the vehicle once the final instalment is made, converting an ongoing expense into an asset held over the long term.

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