Spotcap, a Berlin, Germany-based online lender, raised an additional €22m in equity and debt funding.
Existing investors participated in the funding round which brought total capital raised to €100m.
The company intends to use the funds to continue to work with its intermediary partner network to increase its global market share.
Launched in September 2014 by Jens Woloszczak, Founder and CEO, Spotcap leverages its proprietary credit platform and risk algorithm to provide credit lines and loans to SMEs. It has issued more than €120m in credit lines to small and medium-sized enterprises (SMEs).
The company has established a distribution network of more than 10,000 intermediaries including financial advisors, accountants and finance brokers.
Earlier this year, Spotcap announced a partnership with Heartland, a New Zealand-based NZX-listed bank. The partnership began with the bank investing €14 million (A$20M) of debt in the business, and expanded into the United Kingdom.
The company now operates in Spain, the Netherlands, the United Kingdom, Australia and New Zealand and has a total of 120 people.