TeamSystem expands into financial services for SMEs with the purchase of Change Capital

TeamSystem expands its presence in financial services serving small and medium-sized enterprises. The tech company specialising in digital solutions for managing the business of companies and professionals has announced the acquisition of 61% of the capital of Change Capital, a fintech that aims to simplify access to credit and subsidised finance for SMEs through a proprietary platform offering credit mediation services, supported by tools based on artificial intelligence.

The deal allows TeamSystem to enter the fast-growing credit mediation segment with a direct presence, adding to its portfolio more than 200 financial solutions, including state-of-the-art tools for researching, selecting and obtaining the most suitable financial facilities and grants to boost business competitiveness, while also facilitating access to new solutions on medium- and long-term credit.

This set of tools will be made available to TeamSystem's customer base of more than two million VAT accounts, mainly SMEs, micro-enterprises and professionals, which issue more than 500 million invoices annually for a cumulative value of almost EUR 1 trillion.

Change Capital has developed according to a "phygital" model, as a digital platform augmented by artificial intelligence that can count, on the one hand, on the experience of 65 qualified professionals operating from offices in Milan, Brescia, Florence, Arezzo and Viterbo and on a wide network of partners and institutional associates and, on the other, on an integrated CC-Suite proprietary digital platform for credit and facilitated finance solutions based on innovative AI solutions. The fintech closed 2023 with a turnover of around EUR 5.5 million, with a Cagr 2019-2023 of +131%, and now boasts over 500 loyal customers for whom it handled almost a thousand transactions last year.

"This operation strengthens our presence in fintech, which has now become a fundamental and distinctive component of our offer. In our industrial development plan, fintech represents one of the four strategic development areas, alongside artificial intelligence, cloud and security,' commented Federico Leproux, CEO of TeamSystem. Already today TeamSystem is the first Open Banking operator in Europe in the Corporate world. Our entry into Change Capital allows us to add a new, important building block to continue growing in this direction'.