Spotcap Issues Quarter of a Billion in Credit Lines to Businesses

Spotcap Issues Quarter of a Billion in Credit Lines to Businesses
11.09.2018 09:21 am

Spotcap Issues Quarter of a Billion in Credit Lines to Businesses

Alternative Finance

Global fintech lender Spotcap has issued more than EUR 250 million in credit lines since its launch in 2014.

The company combines robust credit assessment principles with innovative technology to offer a smooth and straightforward loan experience. The fintech undertakes cash flow based, rather than credit-score based underwriting, resulting in a fair assessment of the real-time performance of a business.

In the last 12 months, Spotcap experienced more than 100 percent year-on-year growth in the volume of credit lines it provided, growing at a faster pace than the alternative finance industry, which recently experienced 41 percent year-on-year growth in Europe.

Jens Woloszczak, Founder and CEO of Spotcap says:

“We are delighted to have issued a quarter of a billion in credit lines to businesses across our five markets. Spotcap has experienced tremendous growth in the past year thanks to our enhanced product offering, the dedication of our team and businesses exploring new ways to access finance. Our goal is to have issued EUR 500 million in credit lines in the near future.”

Spotcap’s customers are primarily established businesses in the capital development stage, showing signs of stability or sustainable growth:

  • Half of its customers have been in business for more than 10 years (50%)

  • Almost two thirds of its customers turnover more than EUR 2 million in annual revenue (65%)

  • Three quarters of its customers are 40 years or older (75%)

  • Spotcap serves businesses from a wide range of industries, with services (26%), manufacturing (19%) and retail (17%) topping the list

“We will continue to grow our lending activities by continuously developing our technology to offer our customers and partners the best possible experience. Additionally, we will strengthen existing and enter into new strategic partnerships with select enterprises and banks”, adds Woloszczak.  

Spotcap operates as a direct lender in the United Kingdom, the Netherlands, Spain, Australia and New Zealand and earlier this year entered into a market-leading strategic partnership with BAWAG Group to give Austrian SMEs access to same-day finance.

For further information, please visit: www.spotcap.com.

Related News

Linedata to transform the lending experience with Loansquare’s digital platform

Linedata (Euronext Paris: LIN) announces the acquisition of French start-up Loansquare, whose portal digitalizes relationships between borrowers and lenders. By acquiring... Read more »

UK consumers cast their vote on the future of the high street

Divido, the multinational white-label platform for point of sale lending, has today unveiled the results of its UK-wide research into how consumers approach high-value... Read more »

Sageworks rolls out new Loan Automation tool

Sageworks, a financial information company that offers lending,... Read more »

Assetz Capital celebrates success with cashback offer

Leading peer-to-peer business lender, Assetz Capital, has launched a new promotion which rewards its investors with a 1% or 2% cashback bonus on newly lent funds.

To... Read more »

Assetz Capital Rewards Investors with New Refer-a-friend Scheme

Leading peer-to-peer business lender, Assetz Capital, is launching a refer-a-friend scheme designed to reward its new and existing investors.

The scheme, which is... Read more »

Colendi Card Launches to Empower Financial Inclusivity and Seamless Transactions

Colendi, the microfinance and credit scoring protocol for the unbanked and underbanked, today announced the... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App