What Endeka SGR does

Endeka SGR S.p.A. is an Italian Alternative Investment Fund Manager (Società di Gestione del Risparmio) authorized by the Bank of Italy on 5 October 2021 (registration No. 15438) and headquartered in Milan. The company manages a portfolio of three reserved alternative investment funds (Fondi di Investimento Alternativi riservati) that provide direct lending to Italian small and medium enterprises (SMEs): Endeka Credito Italia I (medium/long-term lending, SFDR Article 8, ~€72M disbursed to ~220 SMEs between October 2022 and March 2025), Endeka Credito POS I (short-term working capital, fully digital), and the acquired Fondo Magellano (~€77M disbursed to ~230 SMEs, EFSI-supported).

The platform combines a fully digital loan origination process (application, credit analysis, disbursement) with the proprietary Gate Endeka credit assessment model, which integrates qualitative information, financial statements, centrale rischi (Italian credit registry) data, external rating/Probability-of-Default outputs, and CRIF ESG scores. All disbursed financing is backed by Italy's Fondo Centrale di Garanzia public guarantee, supplemented by Confidi guarantees where applicable. Fund investments benefit from EU co-financing through InvestEU and EFSI programs.

Endeka generates revenue through management and performance fees on the funds it manages for Professional Investors (institutional and qualified investors under TUF). Its distribution and origination is structurally reinforced by mutual ownership links with multiple Confidi guarantee consortia (Finèrgis, Asconfidi Lombardia, Fidi Impresa & Turismo Veneto, Fin.Promo.Ter.). The company's strategic focus is on closing the Italian SME credit gap through rapid digital decisioning, ESG-aligned investing, and the systematic use of public guarantee mechanisms.

Name

Endeka SGR

Legal name

Endeka SGR S.p.A.

Website

https://endekasgr.it

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Endeka SGR is a Milan-based, Bank of Italy-authorized Italian asset manager (SGR) that operates reserved alternative investment funds providing direct lending to Italian SMEs. Its three funds combine digital origination, proprietary credit scoring, ESG screening, and public guarantee backing via Fondo Centrale di Garanzia.

Ownership category

akta.pro rank

Product category

Alternative Investment Fund Management

NAICS

Mortgage and Nonmortgage Loan Brokers (52231)

SIC

Miscellaneous Business Credit Institution (6159), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Middle-Market Lending (FSANADAI)

akta.pro secondary industry

Private Credit / Direct Lending (FSAAAHAG)

Keywords

• Alternative investment funds
• SME direct lending
• Asset management services
• Credit assessment fintech
• Reserved fund management

Headquarters

HQ city

Milan

HQ country

Italy

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Alternative Investment Fund Management Fees: Endeka SGR generates revenue by managing alternative investment funds (FIAs) that provide financing to Italian SMEs. As an authorized SGR (Società di Gestione del Risparmio), the company charges management fees to fund investors (Professional Investors) for overseeing fund operations, credit analysis, and loan portfolio management.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Endeka SGR S.p.A. is an Italian asset management company (SGR) authorized by Banca d'Italia that manages alternative investment funds (FIA) reserved for Professional Investors. These funds provide medium-term direct lending financing of 100,000 to 500,000 euros to Italian SMEs with annual turnover of 0.6 to 30 million euros, with all loans backed by the Fondo Centrale di Garanzia public guarantee. The company's core offering combines a fully digital, fintech-driven loan origination and credit assessment process with traditional credit committee review and ESG screening via its proprietary Gate Endeka credit scoring model.

Product overview

Endeka SGR operates as a multi-fund management platform (Società di Gestione del Risparmio) managing alternative investment funds that provide financing to Italian small and medium enterprises (SMEs). The portfolio consists of three distinct funds: Endeka Credito Italia I (medium/long-term direct lending to ~220 SMEs, €72M disbursed, SFDR Art. 8 classified), Endeka Credito POS I (short-term working capital financing, fully digital), and Fondo Magellano (acquired medium/long-term portfolio, ~230 SMEs, €77M disbursed). The company combines digital lending processes with ESG screening criteria and leverages public guarantee mechanisms (Fondo Centrale di Garanzia) to provide accessible credit to Italian SMEs.

Differentiator

Problem solved

Functional benefit

Products and services

• Endeka Credito Italia I Flagship alternative investment fund (FIA) reserved for Professional Investors that provides medium/long-term direct lending financing to Italian SMEs with annual turnover between 0.6 and 30 million euros. Between October 2022 and March 2025 it supported approximately 220 Italian SMEs, disbursing approximately 72 million euros. All loans are covered by the Fondo Centrale di Garanzia public guarantee and the fund is classified as SFDR Article 8, directing financing toward environmentally and socially responsible companies.
• Endeka Credito POS I Alternative investment fund (FIA) reserved for Professional Investors that provides short-term financing to support working capital needs of Italian SMEs through a fully digital loan origination and disbursement process with rapid response times. Classified as SFDR Article 6.
• Fondo Magellano Acquired alternative investment fund (FIA) reserved for Professional Investors that provides medium/long-term direct lending to Italian SMEs. The fund financed approximately 230 Italian SMEs, disbursing approximately 77 million euros in total. All loans are covered by the Fondo Centrale di Garanzia, and investments benefit from EU financial support under the European Fund for Strategic Investments (EFSI).

Quantifiable outcome

• 220 Italian SMEs supported with ~72 million euros disbursed (October 2022 - March 2025)
• +3 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

One partnership is on record.

• CRIF S.p.A.coreTechnology or IntegrationThird-party ESG scoring provider that assigns synthetic ESG scores (scale 5 to 1) to loan applicants. Endeka only provides financing to companies with ESG scores up to 4. CRIF provides credit information and scoring used in the Gate Endeka credit assessment process.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Banca Finint: Italian financial group encompassing banking, a SGR (Finint Investments), and specialized SME/institutional credit services. Comparable as an Italian group combining SGR activity with SME credit distribution.
• Azimut Holding: Major Italian independent asset manager with diversified funds including credit and SME financing strategies. Endeka CEO Sergio Vicinanza previously served as CEO of Azimut SGR; comparable at the broader asset management level rather than the SME credit niche.
• Banca Ifis: Italian challenger bank with a dedicated SME lending and factoring franchise serving underserved Italian SMEs. Comparable target customer and ticket size, but operates as a regulated bank rather than an alternative fund manager.
• Illimity Bank: Italian challenger bank with a dedicated SME and NPL credit division, offering digitized financing to Italian SMEs similarly to Endeka's value proposition. Comparable in product and channel, but operates on bank balance sheet rather than third-party fund AUM.
• Amundi (Italy): European asset management leader with significant Italian retail and institutional fund presence, including credit and private debt strategies. Comparable as a large-scale SGR/asset manager with EU distribution, though Endeka operates at a materially smaller and more specialized scale.

Direct peers

• Etica SGR: Italian SGR focused on ESG and sustainability-themed funds, with operations head Livio Colombo previously heading ICT and organization there. Comparable as a domestic SGR peer managing reserved alternative investment funds for Italian investors.
• Symphonia SGR: Italian SGR managing private debt and alternative investment funds for institutional investors. Endeka CEO Sergio Vicinanza previously served as CEO of Symphonia SGR, giving it directly comparable fund structures, investor base, and SME lending focus.
• Anthilia Capital Partners SGR: Italian SGR managing closed-end alternative funds (Anthilia Bond Impresa, Anthilia BIT) that provide direct financing to Italian SMEs, supported by public guarantees. Directly comparable in fund structure, ticket size, and target borrower profile.
• Mediocredito Centrale: Italian state-backed financial institution intermediating Fondo Centrale di Garanzia support and providing direct and indirect financing to Italian SMEs. Comparable end-market and leverage on the public guarantee system.
• Epsilon SGR: Italian alternative asset management company (SGR) historically focused on private credit and structured financing for SMEs. Endeka's CEO Sergio Vicinanza and Head of Operations Livio Colombo both led Epsilon SGR, making it the most operationally overlapping Italian SGR peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/endeka-sgr-s-p-a

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Endeka SGR