Thursday, 30 October 2014

Spotcap receives EUR 13 million in funding just a few weeks after launch

Tech start-up provides the fastest online credits for small business owners

Just a few weeks after launch, Spotcap, the fastest online credit platform, secures EUR 13 million in funding. The group of investors includes Access Industries, the privately-held industrial group controlled by Len Blavatnik, and Holtzbrinck Ventures, one of Germany’s most successful VC firms. This additional backing confirms that fast and flexible financing for small companies is in high demand and the Spotcap business model has a bright future. Spotcap will use the funding to grow further in Spain and expand to other markets.

Toby Triebel, co-founder of Spotcap: “We are delighted with the funding we received. We now have the backing to expand into new markets and take on new challenges. Our goal is to offer our credit lines to all small businesses in Spain as well as other promising markets where financing alternatives are needed. The support from established venture capital firms proves that Spotcap has an attractive business model and presents an exciting opportunity.”
Spotcap uses an innovative credit scoring technology that directly evaluates the clients’ real-life business data to offer credit lines. The company’s mission is to enable business owners to invest and grow without having to worry about how to finance their projects. Applying for Spotcap’s credit lines takes as little as five minutes - making it the fastest and easiest online credit.