German online lending platform Spotcap reports EUR120 million provided in loans to SMEs

9 October 2017

Spotcap Spotcap, a Berlin-based fintech startup providing access for SMEs in Germany to online loans, reported a milestone of €120 million issued in loans to small to medium sized businesses nationwide. The company also unveiled that it had been invested €22 million through its current investor network with the total funds raised to date achieving €100 million since the inception three years ago.

Spotcap alleges to be one of the most intensely financed startups across Germany. Jens Woloszczak, a founder and CEO of Spotcap, notes that over the past three years the company has seen a substantial growth, which proves that SMEs in Germany need access to affordable credit. Spotcap has built a strong network of over 10,000 intermediaries, which includes consultants, accountants and finance brokers.

Spotcap believes that further cooperation with the intermediary partner network will help it increase the market share on a global scale. Spotcap also plans to continue establishing and expanding ties and relations with the partners to achieve strategic goals.

Earlier this year the online lender announced its cooperation with Heartland, a New Zealand-based bank, which is the only bank listed by NZX, the only registered securities exchange in the country. Heartland invested €14 million into the business and this partnership has eventually developed into a dynamic strategic cooperation.

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