Twinco Capital, an Amsterdam, The Netherlands- and Madrid, Spain-based provider of a supply chain finance solution that covers the production cycle from purchase order to final invoice payment, raised $12M in Equity and debt financing.
The round was led by Quona Capital, with participation from Working Capital, Mundi Ventures, Finch Capital, and Zubi Capital (which provided the venture debt portion).
The company intends to use the funds to accelerate its expansion within the major sourcing countries and strengthen its technology and data capabilities, in particular in relation to ESG.
Led by CEO Sandra Nolasco, and COO Carmen Marin Romano, Twinco engages with large corporate partners to reduce financing costs and improve supply chain reliability by offering their suppliers access to affordable funding. Through its data analytics-powered platform, the company engages with large corporations—mostly in the retail and apparel sectors—and offers funding to their suppliers worldwide, advancing up to 60% of the purchase order value upfront and paying the remainder upon delivery. The process is designed to be a fully transparent, and provides the suppliers with funding for its purchase orders within 48 hours.
Since its inception, Twinco has launched programs serving European and LatAm retailers who buy more than $10 billion per year of manufactured products, mostly from SMEs in emerging markets. The company has onboarded more than 100 suppliers, located in 12 different countries including Bangladesh, China, Pakistan, South Korea, Turkey, Thailand, Vietnam, Indonesia and Spain.
Sandra Nolasco (CEO) is an experienced banker and specialist in trade finance with an international career spanning over 20 years in major European commercial banks. Carmen Marín (COO) has over 16 years of management experience in both equity investing and project finance at Banco Santander.
FinSMEs
24/01/2023