Defacto provides embedded lending via API, allowing businesses on B2B marketplaces and e-commerce platforms to offer short-term credit to their customers. The firm last raised $16 million in June 2022 and secured a $167 securitization line in July 2023 with Citi and Viola Credit. Prior to this Series B round, Defacto had raised over $30 million in total funding, according to Dealroom.The firm plans to use the capital to significantly increase its lending to small and medium enterprises (SMEs) across Europe.It is targeting a tenfold increase in its lending volume, aiming to reach €10 billion over the next four years by expanding services to more industrial companies.