Most companies contact Karmen directly, but the startup has a hybrid distribution strategy. It partners with other fintech companies so that they can offer Karmen financing products to their own clients. Some ERPs, e-commerce marketplaces and business banks like Qonto already integrate with Karmen.

This embedded financing strategy represents 40% of Karmen’s clients right now, says the company, adding that it hopes it can raise that figure to 75% of new clients by the end of 2025.

While most companies repay their loans without any issue, companies can sometimes struggle to repay what they owe.