The Rocket Internet-backed online lender has secured $25.8m in equity and debt financing from existing backers, and revealed it has issued more than $140m in credit to SMEs.
Spotcap, a Germany-based online lending platform backed by e-commerce group Rocket Internet, received €22m ($25.8m) in equity and debt financing today from unnamed, existing shareholders.
Founded in 2014 by Rocket Internet, Spotcap provides short-term loans to small and medium-sized enterprises, using an algorithm to determine a company’s creditworthiness. Spotcap is currently active in Spain, the Netherlands, Australia, the UK and New Zealand.
The company has not specified what proportion of the capital was equity funding. The round was announced at…
