Spotcap issues €120m to SMEs

Spotcap has issued more than €120m (approximately £107m) in credit lines to small- and medium-sized enterprises over the past three years.

The SME lender has also raised an additional €22m (approximately £20m) of funding from its existing investor network.

Spotcap has now raised €100m (approximately £89m) of investments since its launch in September 2014.

Jens Woloszczak, founder and CEO at Spotcap (pictured above), said: “We’ve experienced significant growth over the past three years, which is a testament to the fundamental need SMEs have for flexible and accessible financing.”

The lender has established a global distribution network of more than 10,000 intermediaries, including financial advisers, accountants and finance brokers.

Jens added: “With close to 60% of our current loan book being attributed to our global partner network, it’s fair to say our partners have had a significant hand in our success.”

Earlier this year, Spotcap announced a partnership with Heartland, New Zealand’s only NZX-listed bank.

Jens explained: “Our partnership with Heartland was an important milestone for Spotcap, and one that we’re very proud of.

“We’re now exploring new ways – including white-labelling – to provide our technological expertise to established players and to work with them to explore new markets and underserved SME communities.”

Spotcap has expanded into the United Kingdom and New Zealand within the last 12 months, and now has 120 employees, a 50% increase since 2016.

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