Baemingo launches lending arm to support struggling EU restaurants

Baemingo has launched a lending division to provide financial support to restaurants across Europe as they continue to face economic pressures.

The hospitality sector in Europe, and particularly in Sweden, has been severely affected by inflation, ongoing labour shortages, and a challenging financing environment. In Sweden, 943 restaurants filed for bankruptcy in 2024, as reported by Statistics Sweden, with the hospitality trade association Visita predicting zero growth in the sector for 2025. Similar trends are being observed in other European countries as restaurants struggle with rising costs and changes in consumer behaviour.

Baemingo, a Swedish restaurant technology firm recognised for its point-of-sale (POS) systems, is now offering loans of up to €50,000 to restaurants. The lending service offers lower fees compared to traditional banks, aiming to provide accessible and flexible financing options tailored to small and mid-sized businesses. The lending initiative is designed to support cash flow management, investment in upgrades, and to help some establishments simply remain operational.

"I'm a serial entrepreneur, but I've also been a restaurant owner for the last ten years," said Baemingo's founder and Chief Executive Officer, Faje Gani. "I've spoken with restaurant owners in Sweden and abroad, and they all say the same thing: the industry is fighting to survive, but no one is listening."

The company reports that it has already issued loans to dozens of restaurants across Sweden and other European countries since launching its lending division. Baemingo's target is to lend between EUR €5 million and EUR €10 million in 2025, with a longer-term objective to grow the programme's reach.

Baemingo was established in 2017 and now serves over 4,000 restaurant and café customers across Sweden, Norway, Denmark, Spain, and the UK. Its product range includes POS and operational software for a variety of business sizes, from fine dining to quick-service, franchises, and independents. The company's technology is designed to streamline operations, facilitate inventory and sales tracking, and support data-driven decision-making for hospitality operators.

In 2024, Baemingo was named on Deloitte's Sweden Technology Fast 50 list, which recognises the country's rapidly growing technology companies. Faje Gani sees the move into lending as an extension of the company's relationship with the industry. "We already have deep relationships with thousands of restaurants through our POS systems. We understand their business models, their challenges, and their cash flow patterns. That gives us a unique advantage when it comes to assessing risk and offering tailored financial solutions," he explained.

Recent trends in the technology and financial sectors have seen an increasing number of companies integrating financial services with software, particularly in the form of embedded lending. Baemingo's approach involves offering lending directly through its POS platform, enabling restaurant owners to apply for loans, track repayments, and manage finances from a single interface, thereby reducing administrative burden and saving time for business owners.

"We're not just offering loans - we're offering a lifeline," said Gani. "Our mission is to empower restaurants with the tools and support they need to survive today and thrive tomorrow."