Oper Credits raises 11 million euros

Oper Credits has raised 11 million euros as part of a Series A financing round. It was led by Bessemer Venture Partners and ABN AMRO Ventures. Existing investors including Constructive Venture Fund, Pitchdrive, Kraken Ventures, Techstars and Verve Ventures were also involved in the process.

According to a blog post, Oper’s focus during this financing round was on ensuring that company is in a position to “expand our lead in digital mortgages throughout Europe. Because the mortgage space is ready for a gigantic digital leap, and banking is changing across Europe”.

With the help of smart data, Oper intends to simplify the mortgage approval process, which is complex for everyone involved, as much as possible. For example, applicants must often present stacks of paper documents and go through time-consuming credit checks at several banks. However, with the white-label solution from Oper, these aspects should now be a thing of the past as banks can integrate it into their existing digital channels. “We’re the first movers in this space and we’re signing up European banks at a rate of knots”, Oper writes in its blog post.

Oper fits in with the strategy being pursued by many retail banks in Europe that has seen branches being closed and digital processes taking their place. However, in the area of mortgages, an either/or situation is not the solution in view of edge cases that have to be clarified individually: “Based on our experience, a hybrid strategy will win out in the end”, the company concludes.