Spotcap was launched in September 2014 by Jens Woloszczak and uses a proprietary credit platform and risk algorithm to provide credit lines and loans to SMEs. It has issued more than €120m in credit lines and has established a distribution network of more than 10,000 intermediaries including financial advisors, accountants and finance brokers. Spotcap operates in Spain, the Netherlands, the United Kingdom, Australia and New Zealand and employs a total of 120 people. The company intends to use the newly raised funds to continue working with its intermediary partner network to increase its global market share. Earlier this year Spotcap announced a partnership with New Zealand–based Heartland, which invested €14m of debt and helped expand the company into the United Kingdom. Following the most recent round Spotcap has brought total capital raised to about €100m. Spotcap operates a platform that issues short-term business loans and credit lines to small and medium-sized enterprises. The company has issued €65 million in credit lines to SMEs to date. Spotcap is expanding internationally and has launched operations in the UK, and is also operating in Spain, the Netherlands, and Australia. With the new partnership and funding it is launching its SME loan platform in New Zealand, its fifth market. Management says it will focus on growing existing operations, improving products and services, and accelerating growth in Australia. The company anticipates the partnership to potentially evolve into knowledge-sharing and joint product offerings for SMEs over time. Spotcap is a Rocket Internet-founded fintech that provides online lending and credit lines to small businesses, both online and brick-and-mortar. Its credit scoring technology plugs into a business’s accounting software and bank account, using thousands of data points to automate underwriting. Loans and credit lines typically run for over 12 months and are positioned as flexible financing for needs like seasonal inventory or construction upfront costs. The company currently lends in Spain, the Netherlands and Australia. Spotcap says it will use new capital to fund further international expansion, improve the service’s UX and provide more liquidity on the platform. The business is headquartered in Berlin and led by CEO and co-founder Toby Triebel. Spotcap is an online lending platform that provides small businesses with alternative financing solutions. Launched in Madrid in September 2014 and based in Berlin, the company uses credit scoring technology that directly evaluates real-life business data to provide fast and flexible financing. The team consists of 50 credit and online experts and is led by CEO Toby Triebel and COO Jens Woloszczak. Spotcap plans to use the new debt capital to finance its online business lending activities in Spain and the Netherlands. The company also intends to expand operations globally to at least three additional markets during 2015. Financially, Spotcap raised €5m in debt financing from Kreos Capital and had previously raised €13m from a group of investors including Rocket Internet, Access Industries and Holtzbrinck Ventures. Spotcap operates an online credit platform that uses an innovative credit scoring technology to evaluate clients' real-life business data and offer credit lines. The company was co-founded in Madrid in September 2014 by Toby Triebel and Jens Woloszczak and is based in Madrid, Spain. Spotcap is backed by Rocket Internet and runs Spanish operations headed by Pablo Pastega. The team consists of over 30 credit and online experts. Spotcap recently secured €13m in funding and intends to use the proceeds to grow further in Spain and expand into other markets. The article does not disclose the financing instrument or additional financial metrics.

Total raised

$97M

Funding rounds

6

Latest round

Equity

Latest activity

Oct 2017