Spotcap, a Berlin, Germany-based lending platform for SMEs, raised €5m in debt financing.
Kreos Capital provided the resources. This is Spotcap’s second round of financing having raised €13m in funding by a group of investors, including Rocket Internet, Access Industries and Holtzbrinck Ventures last October.
The company plans to use the debt capital to finance the online business lending activities in Spain and the Netherlands and expand its operations globally (at least three additional markets during 2015).
Launched in Madrid in September 2014 and is led by CEO Toby Triebel and COO Jens Woloszczak, Spotcap provides small businesses with alternative financing solutions.
It does it by using credit scoring technology that directly evaluates real-life business data to provide fast and flexible financing.
The team currently consists of 50 credit and online experts.
03/03/2015: Spotcap, Interview with Toby Triebel