French fintech startup Karmen has successfully raised $9.4 million in a funding round aimed at boosting its revenue-based financing products for small and medium enterprises (SMEs). The round, which includes equity and debt, was led by Seventure Partners and supported by Financière Arbevel and Bpifrance. Karmen, which has already assisted around 600 companies in managing their cashflow, offers loans ranging from €20,000 to €3 million. The company plans to enhance its data-driven approach and risk assessment technology using AI to better serve its clients and expand its customer base through embedded financing strategies.