Online Lender Spotcap Expands into UK

spotcapBerlin, Germany-based, Rocket Internet-backed online lender Spotcap is expanding into the UK market.

Niels Turfboer – who has nearly 20 years of experience in European banking and business finance – will lead the UK operations with a credit license from the Financial Conduct Authority (FCA).

Led by Jens Woloszczak, CEO and founder, Spotcap provides SMEs with credit lines and business loans of up to £150k through an online application process, which uses a proprietary credit algorithm to get access to insight into the financial condition of a business, enabling quick decisions.
To date, the company has raised £56m in equity (Rocket Internet, Finstar Financial Group, Access Industries, Holtzbrinck Ventures) and debt funding (Kreos Capital) and issued more than £45m in credit lines in Spain, the Netherlands and Australia.



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