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They might not be swimming in it, but there certainly doesn’t seem to be a shortage for money at fintech scale-up Spotcap. For the second time this year they raised millions in an investment round. This week they announced they closed yet another funding round of €14 million. This money will be primarily used for the Dutch market.
€63,5 million in total
It is the fourth big funding round from the fintech scale-up in the past 22 months, bringing the total to €63.5 million, backed by Rocket Internet, Access Industries and Holtzbrinck Ventures. The last investment of €31,5 million dated from last February, only four months ago. Who the new investors are, hasn’t been made public. Only thing they want to say about it, is that there are ‘two major investors’ at play.
Dutch demand on the rise
The new funding will be solely used to grow in the Dutch market, says Spotcap. According to them, the demand for flexible credit for small and medium sized enterprises in The Netherlands is on the rise. Since January 2016, the fintech company grew 200 percent in this country. They expect to provide €50 million in credit to Dutch companies.
“This fourth funding round shows the power our company has, and the success of the chosen strategy”, says Niels Turfboer, director of Spotcap Benelux and UK. “We more and more serve the Dutch SMEs, in most of these cases with a stacked financing solution. This extra funding clears the way for further growth in The Netherlands.”
Spotcap provides financing for SMEs. Companies looking for additional funding can get it within one day through the website of Spotcap. The height of the funding starts with €5000. Spotcap recently increased the maximum funding to €250.000.
Spotcap originally is a German company, with the headquarters in Berlin. But they are rapidly expanding, all over Europe. They have an office in Amsterdam, as well as in Madrid and Sydney. The fintech scale-up currently employs 80 people, 15 of which are based in The Netherlands.
Pictured: Niels Turfboer, Spotcap