Berlin, 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.
FinSMEs
04/11/2016