Spotcap, a Berlin, Germany-based provider of an online lending platform, closed its €31.5m third financing round.
The round was led by international private equity firm Finstar Financial Group, with participation from previous investor Holtzbrinck Ventures.
The company, which had precviously raised €13m in funding from Rocket Internet, Access Industries and Holtzbrinck Ventures as well as €5m in debt capital from Kreos Capital, intends to use the funds to expand its operations globally and to finance its online business lending activities in Spain, the Netherlands, and Australia.
Led by Toby Triebel, CEO, and Dr. Jens Woloszczak, COO, Spotcap leverages a credit scoring technology platform that directly evaluates real-time performance of businesses to provide short-term credit lines and loans meeting the needs of small companies efficiently.
Launched in September 2014 by Rocket Internet, the company has local offices in Madrid, Amsterdam, and Sydney.
The team currently consists of 70 credit and online experts.