Fintech-Startup Spotcap receives EUR 22 mio financing from its investor network

10 Oct 2017

Fintech-Startup Spotcap receives EUR 22 mio financing from its investor network

Titel: Spotcap

Spotcap grants loans to small and medium-sized enterprises, with great success. The Berlin-based startup is currently active in Spain, Australia, New Zealand, the Netherlands and the United Kingdom and will invest the  EUR 22 mio into these markets. Investors involved are Rocket Internet and the Finstar Financial Group, amongst others.

Since its market entry in 2014, the fintech company has granted over  EUR 120 mio in credit lines and by the end of 2018, it is expected to have granted a total of EUR 300 mio. For customers, the application is quick and uncomplicated. A specially developed algorithm evaluates the credit default risks. Therefore, the failure rate is in the lower single-digit range.

The company's key figures speak in favour of the company and its founder Jens Woloszczak: revenues in the double-digit million-euro range, 120 employees and a tripling of the loan amounts granted. Spotcap recently entered into a strategic partnership with New Zealand bank Heartland and received a  EUR 14 mio investment.

Thus far, the company has not been active in Germany but does not rule out market entry in the future.

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